Showcases New Technology with Long-Awaited NEXT Airdrop
Connext, the pioneering blockchain interoperability protocol, announced it is partnering with Tokensoft, the leading token launch and distribution platform, to launch Crosschain Airdrops as a Service. For the first time, airdrop recipients can claim their tokens on any chain without the need to bridge or pay unnecessary gas fees. This partnership promises further accessibility to token holders while allowing token creators to reach their users more effectively across chains. Crosschain airdrops will also be capable of leveraging the open xERC20 token standard recently proposed by Connext and adopted by Alchemix, allowing for zero-slippage crosschain transfers and better security for token creators. With the final snapshot taken, Connext will showcase this technology with their long-awaited airdrop of NEXT on September 5th at 3 pm CET.
Unlike traditional airdrops, this technology allows token creators to airdrop their tokens to any chain users prefer, alleviating the need for users to claim on Ethereum and pay excessive bridging and gas fees to their chain of choice. Today, token creators can leverage this service to airdrop to Ethereum, Polygon, Arbitrum, Optimism, Binance Smart Chain, and Gnosis Chain, with support for several additional chains planned by the end of the year. This collaborative product leverages Connext’s interoperability protocol and Tokensoft’s robust token issuance platform, creating a seamless experience for token creators and recipients alike.
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“Blockchain applications are more interconnected than ever, a single application may be found deployed on several blockchains,” said Mason Borda, Co-Founder and CEO of Tokensoft. “We’re proud to launch with Connext to give communities the choice to access their favorite applications on their blockchain.”
How Crosschain Airdrops Work
The Crosschain Airdrop as a Service taps into Connext’s interoperability protocol, using native bridges to allow for crosschain transfers that maintain the same level of trust minimization as the underlying chains themselves. It utilizes xERC20 tokens that move across chains with zero slippage, and Connext’s network of routers speeds up transactions that might otherwise take time. Through Tokensoft’s platform, users entitled to an airdrop can easily select their preferred chain and claim it directly to their wallet without the need to interact with third-party services like bridges or DEXes.
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Connext co-Founder Arjun Bhuptani commented on today’s news: “In today’s increasingly interchain world, in order to make sure their protocol is accessible, projects need to ensure their tokens are on multiple chains from day one. This is a great pattern for ways that people should launch tokens. We are excited to work with Tokensoft as one of the largest token platforms. Combining our strengths to make Crosschain Airdrops is a win-win for the web3 community. This service aims to allow token creators to create a broader and more inclusive community of token holders across all ecosystems. The partnership between Connext and Tokensoft will change the way we think about airdrops and building decentralized communities.”
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