Expire [$XPIR] - Safely Send Any Token

Name of Project
Expire Token

Ticker for Token
$XPIR

1) In one sentences or less, describe your token. This isn’t the time to get wordy, just to the point!
Safely send any ERC20 token to another address with an expiration to automatically get your tokens back if not opened in time with optional password.

4) How does your token work? Be as detailed as possible

  1. Go to the XPIR dapp and deposit the tokens you want to send.

  2. You can withdraw any expired or unsent tokens at any time that are yours.

  3. You can send X amount of Y token to Z address(es) with an optional P password and optional T expiration time and an optional R receipt XPIR token to be sent to recipient address(es) as a way to inform them of this claimable event.

  4. Any time tokens expire, they become available again to be withdrawn or sent by the original sender only.

5) What problem is your token aiming to solve? How will this positively impact the crypto industry?

  1. This will prevent lost funds due to sending to incorrect address: If I send to wrong address and they have an expiration and password: the recipient won’t know the password, they will expire, I can withdraw them from XPIR dapp or resend them after they expire.
  2. No longer necessary to do 1 test transaction for a small amount before sending a larger amount: can send it all at once, wrapped with $XPIR token, but with a short duration (1 hour for example) of expiration that will revert the tokens back to your address if not opened in time.
  3. Invitational airdrops that if not opened in time, will expire and can not be opened later. The act of receiving this token is one way you could be informed to go to the official XPIR claim dapp to unlock what you have received.

6) What was the inspiration of this token? How did you think of it?
I keep thinking about how there must be a simple answer to not having to do test transactions and not needing to be worried about sending to the wrong address. This seems like a simple fix.

7) Are there any projects out there doing something similar?
Not that I’m aware of, but wouldn’t be surprised if someone has tried something similar.

8) What phase is the token in? Explore vs. Build vs. Launch vs. Scale. (If there has been no coding yet, your token is in the explore phase)
Explore.

9) Will this token be inflationary, deflationary, fixed, or dynamic token supply?
Inflationary

10) How long do you think it would take to build a minimal viable token?
2 Months

11) What skills do you have that would help bring this token to reality? (ex: Marketing, Development, Branding, etc)
Developer

12) Are there any inherent weaknesses or obstacles to building this token? Any items you still need to figure out?
Many of these things are the things the community can help decide on:

  1. This might be a useful idea for expanding on how the XIO CLAIM DAPP could work and may not need its own tokenomics.
  2. Or this may need its own token at the very least as the “Receipt” element to its functionality to let addresses know they have something available to claim in the dapp.
  3. The act of using the Dapp may cost a small XPIR fee (or XIO fee?) for anyone to use for their own claimable airdrops or for safely wrapping tokens to send to another address.
  4. I’m not sure if or how the cost to use the feature should exist, or should be nearly free to prevent a competitor from duplicating but making it free as their only advantage.
  5. Should the tokens to be sent be deposited into a smart contract (that could be hacker exploited vulnerable somehow? There is some risk.), or should they be wrapped securely somehow and actually truly sent to another address with some kind of revertable expiration timer?
  6. how many failed password attempts before the recipient forfeits the package, it reverts, and it returned to sender? Should it be an optional choice by the sender when creating the package to send as part of what data you input before clicking “Send tokens”, maybe with a default of 3 bad tries before reverting?
  7. Is “XPIR” (Expire) the right name for this? NVLP (Envelope) is another possibility for example. The intent is to package up some tokens and protect them in a lock box / envelope / expiration / time bomb type of concept.

If you want to share your Twitter/Telegram handle here for people to reach out and discuss this idea with you, post them below.
@ste_ve_e

This is where you can put anything you want that was not directly asked above! Anything and everything related to your token idea can go here. Any files, links, info, etc
I bought ExpireToken.com just in case :wink:

mock up of primary use case of token:

9 Likes

Great idea for a dApp!

Just wondering why you need the token for that?

The token would exist to at the very least act as the notification receipt for the recipient. For example if one use case is Airdrops to people not expecting or fully aware they are receiving it: if they see they got 1 XPIR token, this is how they are informed they have something they need to claim.

2nd reason is we may decide we need to wrap the expiration tokens into XPIR token to make this functionally work.

3rd reason is we may decide it needs to cost something, to cost XPIR tokens (spend them by burning them?), to use the airdrop feature.

I know that Kirby web wallet is doing this with Bitcoin so there’s no reason why this cant be done. I like it. Only concern is a scammer tells someone they will send them 20 ethereum & shows the transaction. The person sends many thousands of dollars to the scammer & then the scammer takes back their eth. That part is very concerning as most people wouldn’t know this is possible.

The way XPIR is proposed to work is it Expires after a certain period of time. The transaction can not be revoked after it has been accepted.

Think of it like delivering a package that you have to sign for at your door. Once you sign for it (enter a password), the contents of the package are now permanently yours. No one can take away your stuff after you have actually received it. But, If you don’t sign for it in time, it expires, and effectively the package is automatically “return to sender” and the sender gets it back.

You might be referring to the “You can withdraw any expired or unsent tokens at any time that are yours.” – The ability to withdraw unsent tokens, yes, maybe someone takes a screenshot of what they sent to scam someone that it was sent, but, the recipient should always do their due diligence and verify by manually looking at their wallet to confirm what any scammer tells them: I’m not sure how XPIR would be making a scammer’s life easier or make scamming easier.

The intent of “withdraw unsent tokens” is to reverse an accident. Did you accidentally send too many tokens and didn’t realize it until right after you sent the transaction? Think of it like sending an email with a typo but that you have the ability to delete an email that hasn’t been received and read yet. Now you have the chance to fix the mistake and resend it correctly.

3 Likes

I think as long as there’s a method to make the recipient understand that if the tokens aren’t claimed within a certain amount of time you will lose them (Similar to warnings you get on metamask or uniswap with a box to tick to say you understand), I think its a great idea

I’ve just been reading through all of the chat on the bomb telegram group about the community funds that have sat idle for so long and this token idea popped into my head.
I was looking on etherscan and noticed that there are so many wallets with the initial airdropped amount of tokens sat in them and the other wallets have been inactive for upwards of a year now. This causes a massive issue for a deflationary token like bomb as large portions of the supply will never be recovered.

Something like this token idea could solve that with tokens that aren’t used or interacted with being returned to the original address and redistributed to the other addresses. Similar to how AMPL rebases.

Just a thought on another use case for this token idea.

2 Likes

I like this use case

1 Like

This was a great presentation of an idea I think that we should develop.
Props Steve

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Yea this seems like a great idea for projects that want to do big airdrops, either to their community or to others. There really seem like lots of applications for this outside of just test transactions

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Congratulations to the win Steve!

1 Like