TI First Sight — Claim, enrich DeFi Liqudity with Leverage

4 min readJun 6, 2021

“This due diligence only provides users with more information and cannot be directly used as investment advice. This due diligence content is only valid for a limited time, subject to the release time of the content, the information may become invalid and distorted after a period of time. Investors and users are requested to take a rational view. Please do your own research or seek advice from professional consultants before making any investment projects.

Claim is a DeFi protocol based on the Ethereum credit stability model. The on-chain credit valuation model of the protocol is similar to Alchemix and is related to future cash flow. The valuation of assets not only depends on their present value, but also includes the expected cash flow of the asset in the future. Users can obtain the same amount of cUSD for asset circulation by staking Dai on the Vault. After the assets are deposited, the Vault protocol will aggregate users’ assets and help them invest (through Yearn.Finance). In this way, the users can not only use their assets as collateral to obtain stablecoin cUSD, but also enjoy the credit leverage formed by the expected return on assets, which improves the effectiveness of the protocol.

Claim has now been deployed on Ethereum, and 20% of it has been transferred to BSC.
In order to ensure the 1:1 anchoring ability and liquidity of cUSD and Dai, the early platform only used Dai as the asset of Yield farming (on yearn). After depositing Dai, the user will get cUSD at a ratio of 1:1, and redeem it at the same ratio at any time thereafter.
The Claim protocol is a dual-token model (similar to Alchemix’s alUSD and $ALCX). cUSD is a functional token generated by mining, which is circulated as an asset among users participating in mining. $Claim is a governance token, used for protocol function governance, parameter adjustment and DAO asset management.
All operations of Claim must go through smart contracts, and only the user has the operation authority.
For funds on the platform, Claim uses multisign, separate fund pools, agency contracts, etc. to isolate user assets from platform insurance hedge funds.
Claim has finished the audit of SlowMist on April 15, 2021. The audit code is 0X002104150004 and the result is pass.
Claim proposes “Loyalty Return”, which means that from the moment the users staked assets on the Vault, their voting points begin to accumulate. The longer the staking, the higher the TVL of the Claim protocol and the greater the value of the CLAIM token. At the same time, the more CLAIM a user holds, the higher the value.
80% of the mutual fund will be used to repurchase the CLAIM-DAI LP token, and the remaining 20% will be used as a community mutual fund, governed by the DAO. As the project progresses, the income distribution of the mutual fund pool will be more managed by the DAO.
In order to fully mobilize the community’s enthusiasm for participation, the Claim Protocol team decided to allocate 12% of the total supply of tokens (12 million CLAIM) to the community at the beginning of the protocol, for 6 weeks.

The Mechanism of Claim, Source: Claim

IDO Information

Platform: DODO
Opening time: 8:00, May 18, 2021–8:00, May 23, 2021 (UTC+8)
Start trading: 20:00 on May 23, 2021 (UTC+8)
Subscription price: 0.5DAI=1CLAIM
Subscription currency: DAI
Total subscription amount: 0.4% of the total supply of tokens
Number of crowdfunding: 200,000DAI
Participation conditions: Claim before the opening of IDO will put 188 whitelist quotas through the Gleam competition. Users need to complete designated tasks, and the final results will be ranked by points.
Detailed tutorial: https://claimfinance.medium.com/how-to-win-the-competition-of-claim-ido-whitelist-89f5cbfea4d1
Individual purchase limit: $800(ETH), $400(BSC)
Result announcement: The current whitelists on ETH and BSC were announced on April 28. For details, please refer to: https://gleam.io/ax2qH/time-limited-task-of-claim-ido-whitelist
More details: https://app.dodoex.io/cp/join/0x295e00c30b2a549a08cceecff981e56be895fc11?network=mainnet

Token Information

Name: CLAIM

Type: ERC-20

Total: 100,000,000 (100 million pieces)

Contract address: 0x13154efe79d4d7f86407d56f8f6a1b07fb0b80ff

Function: Governance tokens, mining rewards;

Token distribution:

80% held by the community: released through benefit mining;
10% held by the team: held by the core team, used for member incentives and daily R&D expenses. It has a three-month lock-up period, and then will be linearly released within 12 months;
Eco Funds 10%: Mainly used to support external cooperation for the ecological construction of the project and other necessary funding needs. The eco funds token will be linearly unlocked in 12 months.

Token Distribution and Unlocking Information, Source: Claim

Financing Information

According to the disclosure of the project party on May 12, 2021, Claim has completed the first round of institutional strategic financing. Investment institutions include NGC, Silicon VC, HOO Venture, C6E, Vega Venture, WaterDrip Capital, SpaceX, Excision Biotherapeutics, and NIO Silicon Valley Investors Fund.