A few months ago, we announced that a Merkle drop to distribute Trustlines Network Tokens would take place. The drop is live, and everyone is free to claim their tokens!
The goal for the Trustlines Foundation is to make Trustlines Network Coins widely accessible. TLC is the native token of Trustlines Blockchain that TLN can be converted to. A wide distribution of the token should help in creating use cases that align with the mission of financial inclusion. Merkle drop was the chosen tool to make this happen. For the accessibility of Trustlines Network Tokens, the Foundation emphasized eligibility in groups that it sees as aligned with its mission.
These are the groups of eligible addresses that can now claim their TLN tokens
- Early contributors to the Trustlines Network ecosystem. This includes, for example, testers and testnet validators, as well as those who whitelisted their address to become validators, but did not secure a slot in the auction
- People who were interested in participating in the drop via our community channels
- ETHBerlin2 hackers
- Addresses included in the Genesis block of Ethereum (with at least one transfer executed)
- Maker (MKR), Bancor (BNT) and DAI token holders
- dxDAO Rep holders and HumanityDAO human participants
- POAP, Proof-of-Attendance NFT holders
- Collection of ETH addresses, that underwent some form of identity verification in the past
Once an address has claimed their TLN tokens (Note: claiming TLN is subject to the Terms and Conditions of the Merkle drop), they are free to do whatever they want with them. The primary use case envisioned for the TLN tokens would be to use the bridge between Ethereum and Trustlines Blockchain to convert the tokens into Trustlines Network Coins. TLC is the native token of Trustlines Blockchain and is used to pay fees on the chain. These fees are similar in functions as ETH on Ethereum. For example, they are used for transaction fees and smart contract deployment. The distributed TLN tokens will be freely transferable. Meaning they can be moved, or, for example, traded for other assets as well.
How to claim your tokens
Note: The tokens people are entitled to will begin to decay linearly over two years starting from 31.12.2019 at 23:59 CET. Meaning that the earlier you claim the tokens you’re entitled to, the more you will get.
And you’re done!
To move your TLN to the Trustlines Blockchain, you will need to send the tokens to the bridge contract on the Ethereum mainnet. This mono-directional bridge will give your address an equal amount of TLC on TLBC.