Doing a bulk transaction with my ERC20 token (How to do it)
Etherum was invented in the year 2013 and it was Etherum which brought the concept of smart contract, dapps to the Blockchain technology and the applications of blockchain technology scaled further heights and the reach also get expanded.
Over the last 5 years, Etehrum family has become really big with so many tokens and dapps. Every dapp has its specific use-case. But within the Etherum family, sending/receiving ETH or ERC20 based tokens is also one of the most frequently used use-case and probably it is a very generic use-case for every user.
For bounty managers, organizers of airdrops or events, who usually send tokens to a number of users, sending to the individual address separately is a time consuming and hectic task. Therefore a better solution is needed so that the sending to multiple addresses can be done in a single click, that can also save a lot of time & energy.
Go To Dapp
This DAPP was used to send token or ETH to many addresses in one transaction, and that can help user to save tx fee
Previously in Ethereum Network, additional tools were required in order to transfer many ERC20 tokens at once. Many people still do this manually, one transaction at a time. This process is time consuming and prone to an error.
This DAPP allows a user to send thousands of token transfers in a very effecient way by batching them in groups of 1–200 token transfers per Ethereum transaction. This automation saves time by automatically generating transactions to MetaMask. Finally, this tool allows a user to maintain security of their account by delegating the trust of their private keys to a secure MetaMask wallet.
How to use:
- Install MetaMask.
- Make sure you have an account in MetaMask which has a token balance.
- Make sure your MetaMask is pointed to the network that you would like to use.
- Make sure your MetaMask account is unlocked.
- Go to https://cointool.app
- Wait for the full page to load.
- Select a token from the dropdown that you would like to send.
- Provide either EXCEL or CSV or TXT file with addresses and values.
- Click next.
- You need to approve a enough amount to our contract.
- Once the approve transaction is complete, click Next, go to the Send List, click Send, MetaMask will automatically generate a transaction for your token (200 addresses per transaction).
You can test this tool on Ropsten test network, if you want to make sure that everything will work as expected.
0x001dbj28905DEA1a67940093fFeaCeee58cA91nc,1.03Proof of work:
Contract deployed and Source Code
Any ERC20 tokens you transfer to the CoinTool will be sent out to the addresses that you provided.
I encourage you to assess its security before using the CoinTool DAPP.
If you want to join a community to talk about how to build DAPPs in Ethereum or have any questions about sending ERC20 tokens, please check out my Telegram group.