How to claim your $ARGO tokens amid insanely rising gas fees

Firstly, the team, ARGO would like to thank everyone in the community for showing great support during our IDO launch yesterday. In spite of high gas fees, $ARGO reached 10x & are currently trading at 5x, which shows the belief in ARGO’s product & vision. It was a great IDO & we will always remember the day as it brought a lot of attention & appreciation to our organisation.

What does NOT change

  • Tokenomics stay the same
  • Release and vesting schedule stays the same
  • Everything else except the technical method of token distribution stays the same

ArGo Team will never have the right over your token, your tokens are yours. We are building a method so that the decision to claim it at the right time is in your hands — i.e. it’s up to you when you want your token. Tokens will always be available on your vesting contract. If someone wants to claim the token and hold ArGo in their wallet they can do it any time. It will always be available at your vesting contract address.

“Also, it goes without saying that the ArGo team has no control on the rising/fluctuating gas fees.”

Our Vesting and token release Strategy

In line with our token economics (ArGo Token Metrics):

  • We deployed a factory contract that creates vesting contracts for all the private investors
  • We then transferred all the private investor's tokens on the contract
  • Investors can create their vesting, and start claiming the tokens as per the vesting schedule

How to create vesting and claim ARGO Tokens

What it means: For e.g. If an investor is allocated 10000 ARGO tokens, with 20% upfront at TGE, rather than the earlier option, the new method allows the investor to claim 2000 ARGO tokens by following the steps below in the video:

https://www.loom.com/share/64a5b45edd924d17aa8dc8bac5785dc3

Why this strategy?

We are a product company, building a decentralized ecosystem that gives power back in the hands of the people to run their own economy. Hence we decided to take the same approach of minimum centralized governance for our token distribution as well.

This approach of token distributions allows our investors and token holders to become owners of their own token from day one. Such an approach brings more trust since as a founder or as a team, we do not have a right to do anything with your token. Once it’s vested, it can be the only whitelisted address that can claim a token on every unlock schedule time.

It also minimizes the effort of the company in order to manage the distribution of tokens on a month to month basis with high & unwarranted gas fees

Our contract was built a month back, and it’s been also tested after the contract audit. During our test phase, it cost us around 650 USDT to create vesting and claiming the token. Dispersing the tokens to all the investors would mean thousands of dollars of wasted expense on the organisation.

The current gas fees that most of our private investors are seeing now, is because of the recent spike in ethereum gas fees, which has been a concern lately for the entire industry. We deployed these contracts by paying a huge cost, and we are happy we paid that cost in order to protect our investor's tokens.

Advantages of this:

  • An investor has the right of their token from day 1
  • Investors don’t have to approach the team on release dates in order to ask for token release
  • Investors can claim their token at any time once a vesting contract is created. Please follow the above steps to create vesting for yourself

Disadvantages

Dependency on ethereum gas fees. Gas fees are an inherent inevitability on the Ethereum network so the decision to claim the tokens on a low-gas-fee day can be planned by the investor himself.

Benefits for the ArGo Team

The team can be more focused on building awesome products in the allocated budgets as promised. They will have enough cash runway in order to survive multiple market cycles. Since the team is lean, any additional burden will impact product development and ecosystem growth.

ArGo is focused on making it a great success, and everyone is working hard to achieve it.

Future plan for our community investors

ArGo is getting built to favor community and community investors from all angles. We have started to talk about deploying liquidity on Polygon DEX. This will drastically reduce the trading cost (almost with zero gas fees), and more communities can start participating in — and benefiting from — the ArGO ecosystem.

Epilogue

We are grateful to the community for their love & are determined more than ever, to make sure that this positive push takes us to our destination in time. We plan to redefine the dynamics of web hosting & storage aggregation with the vision to create products that enhance human lives. We will build the next icon of the blockchain industry & prove that your decision to back us was absolutely right!

What ArGo does

ArGo makes front-end web deployment easy, effective, and efficient through its blockchain-based platform that takes your web app to the DNS (Decentralized Storage Networks). ArGo removes the hurdles of centralization and censorship through blockchain, ensuring that your web app is permanently deployed and experiences 100% uptime throughout its life.

Coming soon!

We will soon be live on UniFarm, and Layer 2 DEX.

Join our Telegram channel: https://t.me/argoofficial

Join our Discord group: https://discord.gg/46XgDjKzH2

Follow us on Twitter: https://twitter.com/argoapplive

Follow us on LinkedIn: https://www.linkedin.com/company/argoapp

ArGo is a blockchain-based, serverless app deployment platform that takes your web app to a decentralized hosting service.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store