Cashtab has recently released the XEC Airdrop Calculator, which is a powerful tool for eToken owners to conduct their own airdrops to reward holders of their eTokens. This user guide will cover the basics of this new feature, along with the advanced options and how you can start using it today. These instructions are also available as a video.
We have already seen various communities in eCash creating their own eTokens for business and community building use cases. The most popular of these can be seen on the unofficial eToken Tracker web app where they are ranked by the total transactions generated by their respective vibrant token holders.
The new Airdrop Calculation feature in Cashtab enables the owners of these eTokens to reward the holders by airdropping XECs to their members. This is calculated based on the amount of that eToken they are holding at a particular point in time.
How does it work
Consider a test eToken called ‘DET’ on the eCash blockchain. In this example there are a total of 4 addresses holding this eToken where:
- Rick holds 20 DET tokens
- Joel holds 50 DET tokens
- Amy holds 10 DET tokens
- Lauren holds 20 DET tokens
In this scenario the owner of this eToken would like to airdrop a total of 10 million XECs to these holders as a reward for their loyalty. Using the Cashtab Airdrop Calculator, this will generate an output consisting of:
- Rick receiving 2 million XECs
- Joel receiving 5 million XECs
- Amy receiving 1 million XECs
- Lauren receiving 2 million XECs
These XEC distributions are calculated on a pro rata ratio based on the amount of eTokens each recipient is holding at the time of the airdrop.
There are two ways of accessing the Airdrop Calculator. You can either click the Airdrop icon directly on the bottom menu, or you can go via the eToken screen.
For this walkthrough, we will be accessing via the eTokens tab. Start by clicking on the eTokens tab and then followed by the eToken that you would like to base the airdrop on.
In the eToken details screen, click on the Airdrop XEC to holders button underneath the eToken ID which will take you to the Airdrop screen.
In the Airdrop screen you’ll notice the eToken ID field has already been pre-populated for you and all that is required from you is to fill in the Total XEC airdrop field to designate how much XEC in total you would like to split between the holders of this eToken.
When ready, click on the Calculate Airdrop button which will execute a complex calculation involving querying the XEC blockchain for addresses holding this eToken. This will typically take approximately 10 seconds to finish.
Once the airdrop calculations have completed you can either click on the Copy To Clipboard button to paste the recipients output into other wallets such as ElectrumABC, or you can click the Copy to Send Screen button to generate a multiple recipient Send XEC transaction.
There are a list of toggle switches above the Calculate Airdrop button representing optional filtering criteria that can be applied to airdrop calculations. They each serve a unique purpose to give you more control over shaping the airdrop recipients list.
- The “Ignore my own address” option excludes this active wallet from inclusion in the airdrop if the airdrop organiser does not wish to be included in the calculations.
- The “Ignore airdrops below minimum payment” option excludes any output that is less than 5.5 XECs, otherwise this would prevent the multiple recipient Send XEC Transaction from executing on the Send screen.
- The “Ignore eToken minter address” option excludes the address that originally created this eToken.
- The “Minimum eToken holder balance” option refers to a qualifying criteria where only addresses with at least the specified eToken amount are included in the airdrop recipients list.
- The “Ignore custom addresses” option allows you to specify addresses to exclude in the airdrop. If you’re excluding more than one address, you can delimit them using a comma as shown below.
There are a few key considerations to keep in mind with airdrops.
Airdrop Dilution - the more holders you have, the lower each individual airdrop will be, because the XEC airdrop is spread across more holders. So you may need to adjust the total airdrop amount for it to be considered worthwhile for each holder.
eToken Owner - if you as the eToken owner are holding a significant portion of the total supply of your eToken, then the majority of the airdrop will go to your address. So you may use the “Ignore eToken minter address option” when calculating the airdrop.
eToken Confirmations - please ensure the qualifying eToken transactions to airdrop recipients have at least one confirmation. This is because the airdrop calculator will not detect unconfirmed token balances. In simple terms, if you’ve just sent the eToken to someone, make sure that particular send transaction has had at least one confirmation otherwise that recipient’s eToken balance will not be counted in the airdrop calculations.