Enable xio.app/claim to be used as a "decentralized wallet"

Hello, everyone.

I’m not sure if “decentralized wallet” is the right name of what I’m about to propose, or if this idea has been talked here already.

In short, right now, the claim dapp is the only way that the foundation has to distribuite tokens to the community, but because the number of transactions needed for the protocols - FLASHSTAKE. AQUA - to work, it ends up being gas intensive for the users.

ie. Person #1 wants to get their monthly reward from XIO LP iniciative and flash stake it.
The route we have now is:

  1. XIO in claim dapp to wallet.
  2. Swap tokens for flash in dapp - or Uniswap.
  3. Stake flash.

Would it be possible to make all of this in one transaction?

There might be a few technological challenges to make it work, probably the best course of action would be to make the claim dapp - or other tool via a dapp - a “decentralized wallet”, making it possible to deposit/withdraw tokens and use the functionalities of the “blockzeroverse” with minimum gas spent.

From the top of my head there are a few pros and cons:

Pros

  • Reduced gas fees

  • Increased use of the Blockzero tools.

Cons

  • Centralized

  • Maybe coding difficulties

  • Could be rendered useless in case of mass adoption of a L2.

It may be a far fetched idea, but I guess the underlying problem is: lots of transactions and expensive gas fees to use what we are developing. Maybe centralize might be a path to the development of $ZERO.

5 Likes

Great proposal & worth exploring!

Even with the introduction of layer 2, it would only improve the functionality of the platform if you had say a choice of

  • “Claim”
  • “Flashstake rewards”
  • “Convert rewards”

I’m no developer, so have no idea how intensive this would be to set up, but I am definitely behind the idea.

3 Likes

Yes I like this idea.

I was thinking something similar when the “fund” is active you could burn your XIO instead of claiming and receive the burn amount from the fund.

1 Like

Maybe have a L2 solution of our own, instead of each citizen burning ETH we can pay in XIO/FLASH and all enteries combined together can be updated at once at blockchain level

1 Like

Great proposal, but I think the team is not big enough to implement such a feature (because if we develop a wallet, it must be 100% secure and should have a dedicated team of developers)

1 Like