⚡ Should there be a time limit to claim your $FLASH? #XIOfeedback

Pretty straight forward question this time!

On December 31st, a flashshot will be taken of all $XIO holders. For each $XIO you hold, you will have the right to claim 1 $FLASH.

Our question for you is, should there be a time limit or end date on when you can claim your $FLASH?

Pros of a Limit: At the end of the time limit, we will know the true curculating/Total supply of $FLASH

Cons: If someone disappears or forgets to claim, they will lose their $FLASH

Bonus: if you believe there should be a limit to claim, how long should we give people?

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I think the question we should ask is "Do we have a right to the person’s FLASH if they don’t claim it?"
Imagine we would send it to their wallets like with the XLP rewards (until this month) ,we would just count it as theirs and they choose to do something with it or not.
I would leave it unlimited and just count all given out FLASH as part of circulating supply. If they don’t claim it’s as if they kept it in their wallet and HODLed it.

Does anyone know any statistics for UNI? What percentage of UNI has been claimed?

I would assume that if we do choose to limit it (I wouldn’t), one year should be more than enough. I doubt someone will just remember after two years “oh man I forgot to claim FLASH”.

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As long as there is a clear benefit to the network if we have a time limit for the claim I think most people will understand.

No value is truly lost for the people that don’t claim. They will still have their XIO, if they aren’t actively engaged in the community they would just miss out on this opportunity. This is true to most things crypto.

With XIO Insider SMS and all sorts of telegram notifications I don’t know who wouldn’t know about the flashclaim to be honest.

I think 6months to 1 year would be sufficient time limit. The market is entering another bull run in this period and if you aren’t paying attention now, I don’t know what you’re doing. That’s my point of view anyway.

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I’m not too sure about how Uni’s circulating supply is displayed on coingecko but I guess we could find a way of estimating the Circulating supply based on the number of people who interact with the claim dapp contract and the amount of xio they claim from their interaction with the contract. I’m not a dev but I guess this could be possible. Because one con with giving deadlines is the constant complains from people who weren’t able to meet the deadline, we experienced this a lot with the bombx/xio swap and I guess we can’t tolerate it anymore. On the other hand if we still want to go on with the deadline decision I guess a year would be a good time range.

Haha, I can imagine your physical reactions saying all this :joy: . I think your point also makes sense since $Flash is only an airdrop as an incentive for holding xio therefore missing out on this doesn’t make it the end of the world for you provided you still hold $xio. More drops will be coming along so you could catch up on the others. And even if the idea of giving more reward rates to long term holders is implemented you would stand the chance of even benefiting more on the next drop.

I was going to say we should add a limit of a few months but your comment convinced me otherwise. Maybe it should be 6 months to 1 year. Anyone who hasn’t claimed after 1 year clearly hasn’t been following xio. They still have their xio though

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I’m in favor of no deadline.

As Mindora and Afful have said it’s infuriating when you get users who ignored XIO for 2 years and then go to claim their FLASH when they realize it’s mooned, only to see they’ve missed the deadline and become anti-XIO forever.

While we could argue that someone who has ignored XIO for 2 years is clearly not giving anything to the community, can we really be in a position to dictate that? Honestly it feels more decentralized and accessible if there’s no deadline.

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I think that definettelly should be a time limit, I would prefer a 6month and max 1year, even 6month is such a long time if you don’t claim it you never really cared about it! I think it’s better if we know the supply details.

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Yes, 2 months.

There is no con for XIO network, only for participants who do not participate from which the network does not benefit.

I think deadline will be proper way to eliminate the unclaimed tokens, and one year limit sounds reasonable. But instead of burning them they could be kept in treasury of some sort and used for development or something and if the person returns and tries to claim the tokens team can decide accordingly, as it has always been done from Bomb distribution times.

I’m personally a fan of having a limit for people to claim the released tokens… I think 6 months is more than enough time to allow people who haven’t been keeping up with the project to come back and realise… Additionally, as you say, it also means that we have a more exact take on what is the real circulating supply in cases where users have lost access to keys etc and the FLASH would never be claimed in those cases… At XIO I think we’re trying to foster a community that’s engaged and I think this goes along with that, 6 months is more than enough time for those who may ‘fall out of touch’ with crypto or projects and check back in after a period… I think it’s more than fair, maybe there’s an argument that 1 year should be the time limit, but personally I think we’re trying to avoid having holders who don’t actually contribute anything to the project, so I think we’re not exactly losing out on anything if people who don’t even take the time to check in on the project once every 6 months (or 1 year if that’s seen more sensible) don’t receive FLASH tokens that they didn’t care about at the launch time…

I really don’t think that there should be a time limit to claim rewards.

  1. If one earns something, it belongs to the person, and he could decide to withdraw at once or leave it there for any reason.

  2. Does leaving rewards in the portal attract any cost to the dev?

XID: BB9B

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From a technology perspective, the blockchain is forever. Why can’t claims be forever too? Artificially introduced expiration dates harm those who decided to go on vacation, or set it and forget it, or aren’t that involved but are an XIO holder.

My personal preference is that all blockchain situations for all crypto projects should always have an infinite duration in scenarios like this, otherwise it can harm some investors/holders.

Maybe XIO could help set the precedent that blockchain data should be treated like it exists forever, because it does exist forever?

If I had to choose a specific time limit to claim, 1 year should likely cover 99% of the people who would ever claim would do it by then.

I’d hate to be hit by a car and go into a coma and wake up a few years later to find out some arbitrary deadline existed that screwed me out of claiming FLASH (or any other time this situation comes up in any other crypto project), when in theory it could have just as easily been coded to be allowed to be claimed forever.

I’d hate to die and my wife takes way too long to get around to doing what she needs to do to manage my crypto profile, or maybe the kids one day in 10 years get around to digging through dad’s old shit to figure it out. I would hope they can still claim some FLASH by then :wink:

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I’d say no time limit, people have already taken the action to earn or otherwise acquire their XIO and thus earned the right to claim their Flash regardless of how active or inactive they are. This applies I believe as it’s a snapshot of XIO then 1 to 1 distribution, would be different if the proposition was stake xio to earn as I believe some future tokens will be.

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I think we should make the timeframe as short as possible whilst remaining fair - something around three months sounds good to me.

The rationale behind this is that we only really want to reward the holders that are actively participating and providing feedback to the project. The idea of flashstaking is something fairly new and the announcement about the flashshot is also fairly recent - I would argue that if you really wanted to participate and claim your reward, you should do this as soon as possible.

We could stretch this to 6 months but that is a really really long time in this industry. I would really prefer something short, the shorter the better really.

Those who do not claim do not really lose anything either - they will still be able to hold onto their XIO tokens.

The tokens that do not get claimed should just be burned outright. I was thinking maybe adding these tokens into the foundation fund for liquidity rewards but that does not seem right…

Do you not think just holding XIO on a certain date is an extremely low treshold to use for ‘earning’ something?

I consider holding XIO and being engaged enough to know to claim a dropped token from the project over a 3 month/6 month/1 year period to be a pretty low treshold as is…

I’d be all for a time limit with it being set out from the beginning and long enough for people to claim. 6 months to a year would be more than enough. In the rapid world of crypto where coins rise and fall daily people miss out on opportunities each day if they aren’t active. As it’s only an airdrop which they didn’t need to do anything other than hold xio to receive I wouldn’t feel bad about those who don’t look in on their financial holdings once in a while if they missed out.

If it would be possible to withhold tokens in the claim app from circulating supply until they are claimed, similar to how the XLP and xsi addresses are treated then that could help to work out the actual supply at any one time.

I believe that 5 years is a good timespan. 1 year looks not enough for some.

In the crypto world that is like a whole life time. The flash token could have been born, grown and then been replaced for many years (not that I want it to be) before five years pass and some people look up an old token they held called xio.

I was around when people find out about 8 Mth late the swap of bombX to XIO and felt their pain about missing it. I think that in a specific case like [$FLASH] the point is to stake it at the Dapp to make earns, it will be easier to have better idea about the circulation. Since I believe not many will be holder forever w/o stake it. Wallets that did log to the dapp we can assume that are out of CS. XID-77FD