UXD Protocol is the provider of a decentralized stablecoin on the Solana blockchain, $UXD. $UXP is UXD protocol’s governance token and it allows holders to participate in voting on the protocol and stablecoin's future. UXD Protocol partnered with Streamflow to establish a claim portal, enabling stakeholders to claim $UXP and engage with governance proposals.
Challenge
UXD required a vesting solution to set up linear vesting schedules for stakeholders, ensuring a fair distribution. Additionally, there was a need for a unified platform that could seamlessly integrate token vesting and governance, ensuring a smooth process for stakeholders to participate in both.
Solution
UXD protocol integrated Streamflow's SDK into its existing DAO platform, Realms. This integration allowed UXD to create customized vesting contracts for stakeholders, facilitating token distribution directly from the DAO governance portal. Stakeholders could now conveniently claim their tokens and engage in governance activities through a single interface.
Result
Using Streamflow, UXD protocol successfully implemented vesting contracts for approximately 46% of the $UXP token supply. These contracts are following a 4-year linear vesting schedule with a 12-month cliff, ensuring a lockup period before funds are fully vested. Once the $UXP tokens are vested (unlocked), stakeholders can claim their tokens and directly participate in governance through Realms.
“Streamflow offers vesting programmable payments for any token and an SDK that is easy to use” — Kento Inami, UXD Founder/CEO
The establishment of a claim portal within UXD's governance platform has had a significant impact, fostering trust and collaboration among stakeholders and strengthening relationships. The community has also expressed gratitude for UXD's commitment to fair token distribution, through linear vesting schedules.
Get started with Streamflow’s vesting app or contact our sales team for a customized solution.
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