What is a Claim?

Claims represent a promise or contract that is made between two parties. A claim creator issues a claim to someone representing an option that can be redeemed based on specified terms such as timeframe or amount. The claim owner can redeem the claim once the condition of the claim is met. The fulfillment of promises made by claims is not guaranteed and is dependent on the issuers’ integrity and trust. However, if a pool with a verifiable program issues the claim, the claim resolution can be guaranteed through code. A claim creator creates a claim based on a specific agreement and issues it to a user who has the right to claim once the conditions are met. Most frequently, pools use claims as a ticket to the user, who can redeem the ticket. Created claims can be updated by the creator at any time until resolution. Claim creators can also mark claims as resolved, at which point the claim becomes settled and cannot be updated any longer. Owned claims can be transferred as long as they are not frozen.