Fairyproof’s Insight Into MaskDAO’s Token Design
With the burgeoning development of DAO concepts, increasingly more DAO-related applications are surging these days.
With the burgeoning development of DAO concepts, increasingly more DAO-related applications are surging these days.
Very recently, MaskDAO, a new web3 application attracts fast-growing awareness. This application airdrops its MASK token to every user who has a Metamask wallet and has transactions on Etherscan.
Fairyproof reviewed its code and token transactions and would like to share an insight from a technical point of view.
Its token contract was deployed at 0x241357313E802e16eeb9380f2b027224e90B56dd on Ethereum at 02:25:16 AM on December 28th, 2021 +UTC by 0xCa2072ba4feE23516d4dA8df73a14e8Ce93689AC and the contract’s source code can be verified on Etherscan.
A significant point in its token exchange mechanism is that when the token is exchanged in either a sell transaction or a buy transaction, part of the exchanged amount will be taken away. Below is a screenshot of the code:
The tokens that are taken away will be exchanged into ETHs and the ETHs will be sent to two addresses: 0x8134D909215D577Eac4fe2b35623eFD1B57D549D and 0xBD8CC56e4c4369A2000E188300036EB9F52CD01a respectively.
Here is a screenshot of the code:
In general, if a web3 application takes part in a transaction amount, it would send that amount to a zero-address.
With regard to MaskDAO, these amounts are sent to specified non-zero addresses.
From a user’s point of view, before he/she participates in this application’s activities, he/she needs to keep this specialty in mind that part of his/her transferred amount will be sent to two non-zero addresses. This can be considered as a “tax”. If the user is able to bear the “tax”, that would be fine, otherwise he/she needs to think twice before proceeding.