Interesting, so this si kind of like CLAM where you take a snapshot of the blockchain and coins are claimed based on that? Do we just put in a BTC address to claim the coins later or how does it work. I hold some BTC and I don't want to miss out on any free opportunities. Will this also support exchange wallets or only personal wallet balances?
The process of claiming will be to send a signed message from your BTC address. We are not ready just yet for people to begin doing this. When we are ready, we will give instructions on exactly how to format that message. For this reason, exchange wallets will be at the discretion of the exchange owner. Feel free to contact your exchange to ask them to support this coin. We believe we will have decent exchange adoption, since they have an incentive to claim their own EBIT, given that they own a lot of BTC.
Interesting, will there be minimum ETH requirement ?
If the value is too low then there will be so many addresses that gas fee will have a big value.
If the value is too high then there will not be broad adoption.
Great question. There are two different routes we can take to overcome this problem.
Route 1 would change claiming into a two-step process, where the second step is to send a flat fee of .001 ETH to the EBIT contract, to cover gas costs. This would allow there to be no minimum amount of BTC to claim. You can link multiple BTC addresses to a single ETH address, so you will only pay the ~30 cent gas fee once, instead of for each BTC address.
Route 2 would be to have a minimum BTC balance of .001. You can still link multiple BTC addresses to a single ETH address, so hitting this minimum should not be difficult for most people.
We would like feedback on which option people would prefer
