Step by step guide for claiming vCOW in Gnosis Chain

This guide has been performed with test accounts, and thus with fake values.

Tl; dr

The threshold for claiming on Ethereum or Gnosis Chain has been established at: 10,000 vCOW tokens. Thus,

  • If you are eligible for > 10,000 tokens, you will have to claim on Ethereum Network.
  • If you are eligible for ≤ 10,000 tokens, you will have to claim on Gnosis Chain Network.

**Note that for Smart Contract wallets such as the Gnosis Safe, given that the wallet address is not necessarily the same one across chains, regardless of the amount you were airdropped, you will only be able to claim in the network where you were awarded the tokens.

Before starting the guide, please make sure you read and understand the following points:

  • vCOW is a governance token and therefore will be non-transferable in the beginning. This means you WILL NOT be able to sell it immediately after claiming. However, it is up to CowDAO members (YOU) to vote on whether making the token transferable complies with applicable laws.
  • Claiming takes place on either Mainnet and/or Gnosis Chain. Where you can claim is NOT related to your activity but ONLY to the amount of vCOW Tokens you are eligible for under the airdrop criteria. (Besides for Smart Contract wallets as the wallet address is not necessarily the same one across chains). Users eligible for 10,000 vCOW Tokens or less will claim on Gnosis Chain. They are also sent 0.1xDAI each to cover their gas costs. Everyone else can claim on Mainnet.
  • Airdrop: airdrops are dropped to users who have earned a CoW-POAP, traded on either Ethereum &/or Gnosis Chain, and to GNO holders.
  • In addition to receiving the airdrop, some users also have the option to invest and buy additional vCOW tokens. These Investment Options were dropped and offered to traders and to GNO holders. GNO holder options let you buy vCOW with GNO. Trader options let you buy vCOW with ETH on Mainnet and with xDAI on GnosisChain.
  • The 📸 was taken across all categories equally: block 13974427 for Ethereum & block 20024195 for Gnosis Chain
  • If you exercise an Investment Option, the amount you invest WILL BE VESTED linearly over 4 years. This means that you WILL NOT get the amount immediately after investment.
  • When exercising your investment option, you are presented with the opportunity to choose a % amount to invest. Note that claiming the investment options is ONLY POSSIBLE ONE TIME and thus, if you don’t fully claim it, you will not be able to reclaim the % you leave uninvested.
  • You will be able to claim the airdrop and investment options all within one bundled transaction.
  • Want more vCOW? GnosisDAO is vesting 5% vCOW to users locking their GNO until February 15 here: lock.gnosis.io

If the above points are not sufficient for you, here is a more detailed blogspot regarding the vCOW token.

Claiming 1st step

Make sure that you follow only official links. Once you are in the website double check that the URL is in fact https://cowswap.exchange. BE CAREFUL WITH SUSPICIOUS NON-OFFICIAL URLs.

Connect the wallet to the CowSwap Interface.

If you are eligible for claiming in Gnosis chain, make sure that you are connected to the Gnosis Chain network. For this, double check that the network toggle next to the vCOW one is marked as “Gnosis Chain”

After connecting the wallet, click on the vCOW icon

After clicking on the icon, a new page will appear telling you the airdrop amount you were airdropped.

Claiming for a non-connected Account

We have taken the liberty to hack a small airdrop innovation for our project. Unlike in past airdrops where the connected account is the only one available to claim, for the vCOW drop that is no longer the case. CoWnovation coming right at you!!

This means that the connected account can perform the claiming for a non-connected account. Essentially allowing the user to only need funds in the connected account while being able to claim the airdrop allocated to another of their accounts.

From the attacker point of view, it does not make any sense to claim for someone else as you will be paying the gas costs, and if applicable, spending the investment tokens on behalf of that account. Thus, only benefiting the user you are claiming it for, as they will get the tokens without spending any gas money or their investment tokens.

**Note that this optional, if you still wish to claim via connected accounts, disregard the steps mentioned in this section.

If you wish to claim for a non-connected account, then simply follow the above steps in Claiming Section 1. Once you click on the vCOW icon you can see the following:

On the top right corner, you can notice that it says “Change Account”, if you click on it, the following screen will appear:

From there, you simply just need to input the address that you want to perform the claiming for. Once you have done that, you have to click on the Check Claimable vCOW button.

From here on, the process will be exactly the same as the one described in the different CoW Airdrop scenarios. The only difference is that you will spend the gas costs, and/or the investment tokens with the connected account instead of the claiming account.

Claiming 2nd step

After clicking on the new vCOW Icon on the top, a new page will appear telling you the amount you were airdropped and/or the different types of claims your wallet has been dropped with.

As you may have read from the GIP-13 posts and the twitter thread, there are different types of airdrop claims. Meaning that as a user you can qualify in 4 different ways.

  • Airdrop for being an early user
  • Airdrop for being an early user + Airdrop investment option for being a GNO holder
  • Airdrop for being an early user + Airdrop investment option for being an active user
  • Airdrop for being an early user + Airdrop investment option for being a GNO holder + Airdrop investment option for being an active user

Each of these categories is entitled to a different type of airdrop, and will therefore have different claim flow steps. You cannot choose which type of claim you were given. Your connected wallet or claiming address will be the one that determines which types of airdrop it qualifies for.

CoW who got “Early user Airdrop”

After completing the 1st & 2nd steps, you should be able to see a screen with the number of vCOW tokens allocated to your address:

From this page, we can see three important aspects:

  • The token is used for governance & a link to a more detailed blogpost about the vCOW token
  • The deadline for that address to claim the tokens

Once you are ready to proceed on the next step, you will have to click on the “Claim vCOW” button. After clicking on the button, your wallet should pop up for you to approve the execution of the transaction:

By clicking on “Confirm”, and submitting the transaction, you will have to wait until the transaction is mined. Once the miners pick up your transaction and mine it (the time will depend on the amount of gas $ you are willing to spend to see it happen), you should see the following screen:

That’s it! You are now the proud owner of the vCOW token.

CoW who got “Early user Airdrop” & “Investment User Option”

After completing the 1st & 2nd steps, you should be able to see a screen with the number of vCOW tokens allocated to your address, dividing the amounts based on what you got from being an Early user, and the amount you are able to buy through the investment option.

From this page, we can see three important aspects:

  • The token is used for governance & a link to a more detailed blogpost about the vCOW token
  • The deadline for that address to claim the tokens
  • The deadline for that address to claim the investment option

If you do not wish to exercise the investment option, then simply proceed to click “Claim vCOW” without ticking the investment option box, and the rest of the claim is exactly like in the section “CoW who got “early user airdrop”.

However, if you do wish to exercise the investment option, you will have to tick the investment option box and click on the “Claim vCOW” button. After you have done that, the following screen will appear:

Once you click on “Continue” the following screen should appear:

**Note that if you qualify for the xDAI investment option, you DO NOT need to approve xDAI for investing, and thus you do not need to send a transaction for the approval.

Because you aren’t forced to invest the full amount of tokens that you were awarded to invest with, you have to specify the amount you wish to invest. After you have selected the amount you wish to invest, the progress bar will tell you how much (%) of your available investment option you are using and how many tokens you will receive in exchange.

Once you have decided the amount you wish to exercise and have input the amount, you will have to click on Review to continue.

After clicking on “Review”, you should find a page where you can see a detailed summary or the investment option you are about to exercise. You can find information such as the price at which you are buying, the maximum amount of xDAI that you can invest, the % of the investment option used, and the amount of tokens that you will receive after the vesting period is over.

You can also see the accounts (Address) that you are claiming with

PLEASE MAKE SURE YOU UNDERSTAND THE FOLLOWING:

  • THE TOKENS YOU ARE BUYING THROUGH THE INVESTMENT OPTION WILL BE LINEARLY VESTED OVER 4 YEARS. THAT MEANS THAT YOU WILL NOT GET THE TOKENS IMMEDIATELY AFTER THE CLAIMING PROCESS. BUT WILL RECEIVE THE VESTED AMOUNT LINEARLY FOR EACH GNOSISCHAIN BLOCK UNTIL THE BLOCKCHAIN REACHES THE 4 YEARS TIME.
  • YOU CAN ONLY EXERCISE YOUR INVESTMENT OPTION ONCE, MEANING THAT THE % OF THE INVESTMENT OPTION THAT YOU LEAVE UNCLAIMED AFTER THESE STEPS, WILL EXPIRE AND WON’T BE AVAILABLE ANY LONGER.
  • IF YOU ARE CLAIMING FOR A NON-CONNECTED ACCOUNT, CLAIMING AND RECEIVING ADDRESS WILL BE DIFFERENT. DOUBLE CHECK THAT THEY ARE THE CORRECT ONES.
  • IF YOU ARE CLAIMING FOR A NON-CONNECTED ACCOUNT, YOU HAVE TO INVEST 100% OF ANY SELECTED INVESTMENT OPTION

Once you are clear with that, you can move forward with the investment and review the transaction you are about to submit.

From this page, you can see a full overview of what the transaction you are about to submit will perform. We can see information such as:

  • Claiming Account
  • Receiving account
  • Claim type (Airdrop & Investment)
  • Short FAQ

If you have read everything carefully and you are ready to execute the transaction, then you will have to click on the “Claim and invest vCOW” button. After you do that, your wallet will pop up so that you can confirm the transaction:

By clicking on “Confirm”, and submitting the transaction, you will have to wait until the transaction is mined. Once the miners pick up your transaction and mine it (the time will depend on the amount of gas $ you are willing to spend to see it happen), you should see the following screen:

That’s it! You are now the proud owner of the vCOW token.

CoW who got “Early user Airdrop” & is “GNO holder investment Option”

After completing the 1st & 2nd steps, you should be able to see a screen with the number of vCOW tokens allocated to your address, dividing the amounts based on what you got from being an Early user, and the amount you are able to buy through the investment option.

From this page, we can see three important aspects:

  • The token is used for governance & a link to a more detailed blogpost about the vCOW token
  • The deadline for that address to claim the tokens
  • The deadline for that address to claim the investment option

If you do not wish to exercise the investment option, then simply proceed to click “Claim vCOW” without ticking the investment option box, and the rest of the claim is exactly like in the section “CoW who got “early user airdrop”.

However, if you do wish to exercise the investment option, you will have to tick the investment option box and click on the “Claim vCOW” button. After you have done that, the following screen will appear:

Once you click on “Continue” the following screen should appear:

**Note that if you qualify for the GNO investment option, you DO need to approve GNO for investing.

Before being able to claim, you need to click on “Approve GNO” to execute the approval allowance for using your GNO tokens.

Once you click on it, your wallet will prompt a confirmation to execute the chain’s transaction.

By clicking on “Confirm”, and submitting the transaction, you will have to wait until the transaction is mined. Once the miners pick up your transaction and mine it (the time will depend on the amount of gas $ you are willing to spend to see it happen), you should see the following screen:

After having clicked on “Confirm” and the transaction has been mined, you should check that indeed the UI has recognized the approval, and you see the checkmark icon. Because you aren’t forced to invest the full amount of tokens that you were awarded to invest with, you have to specify the amount you wish to invest. After you have selected the amount you wish to invest, the progress bar will tell you how much (%) of your available investment option you are using and how many tokens you will receive in exchange.

Once you have decided the amount you wish to exercise and have input the amount, you will have to click on Review to continue.

After clicking on review, you should find a page where you can see a detailed summary or the investment option you are about to exercise. You can find information such as the price at which you are buying, the maximum amount of GNO that you can invest, the % of the investment option used, and the amount of tokens that you will receive after the vesting period is over.

You can also see the accounts that you are claiming with

PLEASE MAKE SURE YOU UNDERSTAND THE FOLLOWING:

  • THE TOKENS YOU ARE BUYING THROUGH THE INVESTMENT OPTION WILL BE LINEARLY VESTED OVER 4 YEARS. THAT MEANS THAT YOU WILL NOT GET THE TOKENS IMMEDIATELY AFTER THE CLAIMING PROCESS. BUT WILL RECEIVE THE VESTED AMOUNT LINEARLY FOR EACH GNOSISCHAIN BLOCK UNTIL THE BLOCKCHAIN REACHES THE 4 YEARS TIME.
  • YOU CAN ONLY EXERCISE YOUR INVESTMENT OPTION ONCE, MEANING THAT THE % OF THE INVESTMENT OPTION THAT YOU LEAVE UNCLAIMED AFTER THESE STEPS, WILL EXPIRE AND WON’T BE AVAILABLE ANY LONGER.
  • IF YOU ARE CLAIMING FOR A NON-CONNECTED ACCOUNT, CLAIMING AND RECEIVING ADDRESS WILL BE DIFFERENT. DOUBLE CHECK THAT THEY ARE THE CORRECT ONES.
  • IF YOU ARE CLAIMING FOR A NON-CONNECTED ACCOUNT, YOU HAVE TO INVEST 100% OF ANY SELECTED INVESTMENT OPTION

Once you are clear with that, you can move forward with the investment and review the transaction you are about to submit.

From this page, you can see a full overview of what the transaction you are about to submit will perform. We can see information such as:

  • Claiming Account
  • Receiving account
  • Claim type (Airdrop & Investment)
  • Short FAQ

If you have read everything carefully and you are ready to execute the transaction, then you will have to click on the “Claim and invest vCOW” button. After you do that, your wallet will pop up so that you can confirm the transaction:

By clicking on “Confirm”, and submitting the transaction, you will have to wait until the transaction is mined. Once the miners pick up your transaction and mine it (the time will depend on the amount of gas $ you are willing to spend to see it happen), you should see the following screen:

That’s it! You are now the proud owner of the vCOW token.

CoW who got “Early user Airdrop” & is “GNO holder investment Option” & “Investment User Option”

After completing the 1st & 2nd steps, you should be able to see a screen with the number of vCOW tokens allocated to your address, dividing the amounts based on what you got from being an Early user, and the amount you are able to buy through the investment option.

From this page, we can see three important aspects:

  • The token is used for governance & a link to a more detailed blogpost about the vCOW token
  • The deadline for that address to claim the tokens
  • The deadline for that address to claim the investment option/s

If you do not wish to exercise the investment option, then simply proceed to click “Claim vCOW” without ticking the investment option box, and the rest of the claim is exactly like in the section “CoW who got “early user airdrop” or select whatever option you wish to exercise and refer to the appropriate section.

However, if you do wish to exercise the investment option, you will have to tick the investment option boxes you wish to claim and click on the “Claim vCOW” button. After you have done that, the following screen will appear:

If you have selected to exercise all your investment options, the following screen will appear:

**Note that if you qualify for the GNO investment option, you DO need to approve GNO for investing.

**Note that if you qualify for the xDAI investment option, you DO NOT need to approve xDAI for investing.

Before being able to claim, you need to click on “Approve GNO” to execute the approval allowance for using your GNO tokens to exercise your GNO options. Once you click on it, your wallet will prompt a confirmation to execute the chain’s transaction.

By clicking on “Confirm”, and submitting the transaction, you will have to wait until the transaction is mined. Once the miners pick up your transaction and mine it (the time will depend on the amount of gas $ you are willing to spend to see it happen), you should see the following screen:

After having clicked on “Confirm” and the transaction has been mined, you should check that indeed the UI has recognized the approval, and you see the checkmark icon. Because you aren’t forced to invest the full amount of tokens that you were awarded to invest with, you have to specify the amount you wish to invest. After you have selected the amount you wish to invest, the progress bar will tell you how much (%) of your available investment option you are using and how many tokens you will receive in exchange.

Once you have decided the amount you wish to exercise and have input the amount, you will have to click on Review to continue.

After clicking on review, you should find a page where you can see a detailed summary or the investment option you are about to exercise. You can find information such as the price at which you are buying, the maximum amount of GNO that you can invest, the % of the investment option used, and the amount of tokens that you will receive after the vesting period is over.

You can also see the accounts that you are claiming with

PLEASE MAKE SURE YOU UNDERSTAND THE FOLLOWING:

  • THE TOKENS YOU ARE BUYING THROUGH THE INVESTMENT OPTION WILL BE LINEARLY VESTED OVER 4 YEARS. THAT MEANS THAT YOU WILL NOT GET THE TOKENS IMMEDIATELY AFTER THE CLAIMING PROCESS. BUT WILL RECEIVE THE VESTED AMOUNT LINEARLY FOR EACH GNOSISCHAIN BLOCK UNTIL THE BLOCKCHAIN REACHES THE 4 YEARS TIME.
  • YOU CAN ONLY EXERCISE YOUR INVESTMENT OPTION ONCE, MEANING THAT THE % OF THE INVESTMENT OPTION THAT YOU LEAVE UNCLAIMED AFTER THESE STEPS, WILL EXPIRE AND WON’T BE AVAILABLE ANY LONGER.
  • IF YOU ARE CLAIMING FOR A NON-CONNECTED ACCOUNT, CLAIMING AND RECEIVING ADDRESS WILL BE DIFFERENT. DOUBLE CHECK THAT THEY ARE THE CORRECT ONES.
  • IF YOU ARE CLAIMING FOR A NON-CONNECTED ACCOUNT, YOU HAVE TO INVEST 100% OF ANY SELECTED INVESTMENT OPTION

Once you are clear with that, you can move forward with the investment and review the transaction you are about to submit.

From this page, you can see a full overview of what the transaction you are about to submit will perform. We can see information such as:

  • Claiming Account
  • Receiving account
  • Claim type (Airdrop & Investment)
  • Short FAQ

If you have read everything carefully and you are ready to execute the transaction, then you will have to click on the “Claim and invest vCOW” button. After you do that, your wallet will pop up so that you can confirm the transaction:

By clicking on “Confirm”, and submitting the transaction, you will have to wait until the transaction is mined. Once the miners pick up your transaction and mine it (the time will depend on the amount of gas $ you are willing to spend to see it happen), you should see the following screen:

That’s it! You are now the proud owner of the vCOW token.

Check out our website https://cow.fi/

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About CoW Protocol

CoW Protocol lets people swap assets MEV protected by leveraging its batch settlement layer built on top of DeFi’s favorite AMMs and DEX Aggregators. Traders sign their orders and delegate the execution to so-called solvers. By batching multiple trades together in order to create CoWs (Coincidence of Wants), solvers can save on gas costs & AMM fees leading to structurally better prices than on any existing DEX aggregator. In the absence of CoWs solvers fall back to using the best possible on-chain route, by comparing quotes from leading aggregators.

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