Project Update: SOX Redemption is LIVE!
We know you’ve been eagerly awaiting this moment, filling your socks drawers in preparation for this day, so we’re happy to be able to announce that SOX redemption is live!
From today, our community of hungry Etherhinos are able to burn their SOX tokens (an irreversible process!) and receive their very own physical pair of exclusive, limited edition Ethersocks in return!
These will be promptly delivered via our global shipping service, arriving fresh and ready to warm hearts and feet wherever they’re worn.
The Redemption Process
The process of redemption is simple but requires some care due to Ethereum’s nature.
It can be summarized in the following three-step process:
- A burn transaction is carried out, in which 1 whole SOX token* is sent to a designated Ethereum wallet address from which recovery is impossible (hence it is called a burn). This produces a transaction ID.
- The user whose wallet sent the burn transaction must use their Web3 wallet (MetaMask is recommended) to sign a message that proves that they are the owner of the account. This produces a verifiable cryptographic signature.
- Finally, a specially-produced form must be completed that records the user’s physical address along with above data so that shipping can commence.
While the process requires only two wallet interactions, we would like to provide a detailed walkthrough here, as well as in the form itself, so that all our users, whatever their experience, are able to enjoy a frictionless redemption experience.
To carry out an Ethersocks redemption, please do the following:
We strongly recommend for the purpose of compatibility that this process is done in its entirety using a desktop browser rather than a mobile device.
- Visit the Ethersocks redemption page at: https://redeem.ethersocks.io/ .
- Enter the required personal information into the name, address and email fields. Not only does this information allow us to ship your Ethersocks, it also provides a means of getting in touch and identifying ourselves should there be any issues during the redemption process.
- Click the “Click here to burn your SOX” link. This will automatically initiate a transaction that will send 1 SOX token to the 0xdead wallet. This is the default Ethereum burn address from which it is essentially impossible to recover tokens. The transaction ID of this token burn will then autopopulate the form field.
- Once that is done, return to the redeemer and click the “Click here to generate a signature” link. This will create a cryptographically verifiable message that allows us to confirm that the person submitting the form is the same person who carried out the burn. Once the message is signed, the form field will then autopopulate with the relevant data.
- Now that these tasks have been carried out, the “Submit” button can be pressed and the redemption process will be complete. In the background, a herd of rhinos will stampede their way to us carrying the redemption details so that we can take the important step of mailing our beloved Ethersocks to their redeemer.
Note: If you wish to redeem multiple SOX tokens and you feel confident in doing so unassisted, you may send your SOX to 0xdead address yourself and simply paste the transaction ID in the form field. This will allow us to send your pairs to the same address. If you would like to redeem multiple SOX tokens in a single transaction but feel uncomfortable carrying out the process independently, please reach out to the Team (those with the purple “ethersocks” role) on the official Ethersocks Discord [https://discord.gg/sox] so that we can walk you through the process of conducting a customized token burn.
Hardware Wallets: If you are using a hardware wallet to carry out the redemption process, please note that when performing the signature the popup to confirm on your device may pop up behind the browser window.
As an Ethersocks redeemer, you will be entitled to several benefits. First and foremost of these will be the Ethersocks NFT. As it is a unique item to be received only by those who choose to redeem their SOX tokens it will be distributed once it is complete. In relation to this, we will be announcing a major and exciting update regarding our NFTs to the Etherhino Citadel this week — a private Discord channel made available to SOX token holders who maintain a 1 SOX balance — with public disclosure to follow shortly thereafter.
For those among the redeemers who have already entered the Etherhino Citadel, as well as those who do so in the future, we will be creating a special “Redeemer” role on the project Discord. Manually assigned to those who reach out to the Team via DM and complete a verification process, this will ensure continued access for that account to the project’s private channel and all the benefits that it carries.
We on the Ethersocks Team are incredibly excited to begin the redemption process. Once the socks start arriving with their new owners, we’d love to see what they look like in the wild. As such, we look forward to our redeemers sharing images of themselves sporting their tokenized pieces of crypto history, and will happily reward those who show special creativity in doing so.
Working as a zoo keeper? Why not snap a picture of yourself feeding the rhinos while sporting your very own Etherhino-featuring Ethersocks?
We can’t wait to see what you all have in store for us.