Legacy Disburser


Coming from an existing project (DEGEN SmartDeFi or DEGEN SD), we already held a decent amount of owners in out project. During the DGNX conception where we thought about 'how can we not just leave our old project owners behind'. We thought about airdropping them. We thought about halving the amounts since we have now access to the amount which was on the dead address before and it will nearly double the circulating supply. There was a point where we actually thought about dropping old holders and starting the project from scratch.
This is where we came up with the idea of the Legacy Disburser. A time-based claiming concept created by DegenX. Here is the technical base concept of the Legacy Disburser by example.
A DEGEN SD holder is in possession of 100,000 DEGEN SD. It is possible for him to regain the complete amount in DGNX. For him to do so, he starts with an initial claim of 10% of the full amount. In this case it would be possible for him to gain 10,000 DGNX. After his claim, he is able to claim 5% of the DGNX holdings in his wallet every 30 days. If he stays with the 10,000 DGNX, he will be able to claim 500 DGNX in the next period. He has now 10,500 DGNX and can claim 525 DGNX in the next period. This can be done exactly 24 times. So it's possible for him to reclaim all his tokens in 720 days unless he starts his initial claim 90 days after we have announced and started the official claiming process for the Legacy Disburser.
If you are good in maths, you will see that he won't regain his new DGNX only by hodling it. He needs to invest into the project to get more DGNX in his wallet so he can regain the complete amount out of the Legacy Disburser.

Reclaming examples

Base formula: (DEGEN SD amount * 0.1) * (1.05 ** 24) = Claimable DGNX

Calculation without buying any DGNX from the market:

100000 * 0.1 * (1.05**24) = ~32250 DGNX

Calculation with buying 1000 DGNX every period:

100000 * 0.1 * (1.05**24) + (1000 * ((1.05 ** 24 - 1) / (1.05-1))) = ~76753 DGNX

Graph and tables

Frequently Asked Questions

Why can't we just get old holdings in one step?

We thought about this while thinking about airdropping DGNX. We came to the conclusion that this will harm the project. This will create a critical path and could not attract new investors since most of the amounts of DGNX is put into the Legacy Disburser.

What happens when we will not start within 90 days?

90 days after the start of the Legacy Disburser we will transfer all DGNX from wallets which not started claiming within these 90 days to our Locker so the project can benefit from it in the long term.

What if I forget to claim within one period?

It won't penalize you if you missed a period of claiming. You can claim anytime you want and it respects the amount of DGNX in your wallet. For example: If you want to further invest into DegenX and have funds to invest in DGNX in nearly 2 months or so, it would be better for you to wait so you can build up the base amount of DGNX which will be considered in the calculations of the amount you can claim from the Legacy Disburser.
Last modified 6mo ago