ioTube Airdrop Review: The Safe, Fast, and Secure

About ioTube Airdrop

ioTube Airdrop is a decentralized cross-chain bridge that enables the bidirectional exchange of crypto-assets (e.g., fungible/non-fungible tokens, stablecoins) between IoTeX and other blockchain networks. ioTube doesn’t have an own token yet but is likely to launch one in the future. Using the bridge to transfer assets between IoTeX and other chains may make you eligible for an airdrop if they launch an own token.

Ecosystem

IoTeX is quickly becoming the most connected blockchain in the industry. With cross-chain integrations and two-way token swaps now available between IoTeX and Ethereum/Polygon/BSC, users can find the greater utility of their digital assets by exploring Dapps across multiple blockchains with the same tokens. For example, IOTX + XRC20 token holders can transfer tokens to three of the top blockchains in the world and utilize their tokens in an ever-growing number of Dapps, DEXs, farms, and more.

Architecture

ioTube utilizes multiple smart contracts on both the origin/destination blockchain to enable cross-blockchain token transfers. It starts when a user deposits assets into the Cashier contract on Chain A, which is an event that is observed by multiple Witness nodes. These witnesses verify this event and send a signature to the Relayer network, which aggregates all signatures and instructs the Validator contract on Chain B to mint the same amount of Proxytokens that were deposited on Chain A.

Architecture

The ioTube v5 architecture is composed of the following contracts:

• Witness List: stores the list of active witnesses
• Token List: stores the list of whitelisted tokens
• Token Safe: stores the tokens deposited into the Token cashier, that are used to transfer to recipients by the Transfer validator contract
• Minter Pool: holds the minter authority of all mintable tokens
• Token Cashier: accepts token/coin deposits and emits a receipt for each deposit
• Transfer Validator: validates witness signatures and then withdraws tokens from Token safe to recipients.

Deposits

For depositing assets, the TokenCashier contract validates the following:

1. 1.Checks if the asset is listed and active
2. 2.Checks if the amount is within the maximum limits
3. 3.Checks if the asset is a Proxy token (e.g., ioETH on IoTeX is a proxy token)
4. 4.If a proxy, burns it and creates a receipt; if not a proxy, deposits it into the TokenSafe.

Minting

For minting (i.e., issuing Proxy assets), the TokenValidator contract ensures:

1. 1.The asset being converted is whitelisted and active via Token List
2. 2.The transfer has attestations from at least two-thirds of all witnesses
3. 3.If so, the contract mints Proxy tokens and transfers them to the given recipient.

Token Submission

Guidelines for tokens

They will only take into consideration projects that

• does not represent any type of cryptocurrency “scam” e.g. project counterfeit and others.
• shows clear signs of activity: either traffic on the network, activity on GitHub, or community buzz.

In addition:

• Only tokens from Ethereum, Binance Smart Chain or Polygon can be bridged to IoTeX at the moment.
• The token icon should be small, square, but high resolution, ideally a vector/svg.
• Make sure your website includes a detailed explanation of project and the token contract address.
• No Profanity in token name, token description, etc.
• Token contract has to be verified on explorers
• The submitter has to be verified author from the token’s project