February 2024 Update — Audit & Airdrop Campaign

The Contrax Team
3 min readFeb 5, 2024

Contrax has built out the product, formed the DAO, and has token-based voting. Now, it’s time to put the finishing touches on bring Contrax to the public. This month, Contrax has started our formal security audit with CyberScope, after which, we will launch our airdrop campaign to take the TRAX token to market!

DAO Voting Launch 👥

The Contrax DAO is, well, an actual DAO! Before, xTRAX was just earned, but now, we have voting set up for xTRAX with Snapshot. All previous Contrax DAO proposals from the formation committee have been put up, as well as our first proposal for an airdrop campaign! Speaking of which…

Airdrop Campaign — Starting with Intract! 🎁

The airdrop campaign proposal has passed! Contrax is partnering with Intract to start our airdrop campaign, Until now, xTRAX tokens allowed users to vote in the Contrax DAO, but the DAO has voted to make xTRAX transferable and adopt the full features in our tokenomics article. The campaign will have airdrop seekers completing quests for points which will mark them for the airdrop, just like holding xTRAX would. The campaign is set to start on Intract on February 19th.

CyberScope Audit 🛡️

Contrax is getting audited! We are days away from getting the results of our audit with CyberScope. Contrax already has open source bounties for over a year on all of our contracts up on Immunefi, but as we gear up for our airdrop campaign, we want to make sure we tick all the expected security boxes for listings, while of course being as sure as we can about Contrax’s contracts security!

Next Steps for Contrax 🎯

Here is what we are looking to do next:

  • Endless Giveaways! In order to get the word of Contrax out there, we will be doing Contrax giveaways continuously during the airdrop campaign. Starting with a Discord invite event, followed by campaigns on Intract, Guilde, and Galxe. We will also hold our own referral contest using our platform referral links.
  • Round Exploration: We are still working with Faster capital on setting up a funding round for Contrax to catapult us to the next level. Hopefully more on this soon.
  • … & of course, Airdrop! Upon completing the campaigns and building up the Contrax user base, all xTRAX token holders and quest point-earners from every platform will receive the upgraded TRAX token, which will be the new DAO token of Contrax!

Join Our Community 📢

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Starting earning APY and TRAX tokens on your crypto here.

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The Contrax Team

Contrax provides DeFi scaling tools to new and existing projects. Check it out at www.contrax.finance