In order to use airdrops and bounties, you'll need to fund your Bonfire escrow balance with your coin.
How to Fund Your Escrow Balance
Funding your Escrow Balance is one of the most important steps in setting up your bonfire site. This is what makes distributing your coin through drops or bounties possible. You can deposit or withdraw from your Escrow Balance at any time.
- To get started, just look for the escrow widget in the top right corner of your dashboard, on the Home screen. You can also find the escrow widget in Airdrops > Create Airdrops, or Bounties > Create Bounties sections of your Bonfire Studio dashboard.
- Click the Deposit button to send coins from your Rally account to your Bonfire account. Type in the number of coins you’d like to deposit and click Confirm.
- Check your inbox. You should have received an email from Rally asking to approve or reject the transfer from your Rally account to Bonfire.
- To complete this transfer you will have to approve it on Rally by clicking Approve. Keep in mind you will only have 1 hour to approve the transfer.
- You’re all set. The transfer might take a couple of minutes. From there, you should see the updated Escrow balance on your Bonfire Studio dashboard.
Note: The "Available to distribute" message refers to the amount of coins that are currently able to be distributed from the escrow account to community members. This amount is governed by Rally's flow controls.
Locked Funds For Airdrops or Bounties
When you have active airdrops or bounties, we put the necessary amount of coins needed to fulfill those transactions into a vault aka “Locked Funds”. This helps you make sure you have enough coins to distribute to your community. We then distribute the coins on your behalf during the drop or bounty.
We can't pull funds from your account without approval, for obvious reasons. The escrow is how we're able to distribute coins for you without you needing to manually approve dozens or hundreds of transactions via email. Instead, you send one transaction to the escrow for the value of the drop or bounty, and we take care of the distribution to your community. You can withdraw coins from the escrow whenever you'd like.