Frequently asked questions
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- How do I earn $GOODS with my Snappy Squeal NFT?
- In Phase 1, you earn points based on the daily rate and your NFTs' stake in The Piggy Bank smart contract. Each Snappy Squeal NFT contributes to your daily points, which are placeholders for $GOODS tokens. Once Phase 2 begins and $GOODS tokens are on-chain, you can claim your $GOODS tokens equivalent to the points earned.
- What's the difference between Phase 1 and Phase 2?
- In Phase 1, users accumulate points based on their NFTs' participation in the platform, acting as a promise for future $GOODS tokens. Phase 2 kicks in once $GOODS tokens are deployed on-chain, allowing users to claim ERC20 $GOODS tokens in exchange for their accumulated points.
- How is the daily points rate determined?
- The daily points rate is set by the contract owner and represents the amount of $GOODS (in wei) allocated daily across all participants. It's dynamically adjustable to ensure fair distribution as the ecosystem evolves.
- Can I claim $GOODS tokens in Phase 1?
- No, in Phase 1, $GOODS tokens are not yet claimable. Users accumulate points reflecting their future claim on $GOODS tokens. Claims will be enabled in Phase 2, once the $GOODS tokens are on-chain.
- How are my daily points calculated?
- Your daily points are calculated based on the number of Snappy Squeal NFTs you stake. 1:1 NFTs are counted as 2 stakes each. The smart contract calculates your share of the daily rate proportional to your total stakes compared to the entire pool.
- What happens to my points when Phase 2 starts?
- When Phase 2 starts, your accumulated points can be exchanged for $GOODS tokens on a 1:1 basis. Ensure to claim your tokens through our platform; details on the claiming process will be provided closer to Phase 2 launch.
- Is there a deadline to claim my $GOODS tokens in Phase 2?
- While there's no set deadline as of now, we encourage users to claim their $GOODS tokens early to participate in governance and use them across our ecosystem. Stay tuned for any updates on deadlines.
- Can I increase my daily points rate?
- Your daily points rate depends on the number of stakes you have in the pool. Increasing your number of staked Snappy Squeal NFTs or acquiring 1:1 NFTs, which count as five stakes each, can increase your share of the daily rate.
- What happens to my points if I sell my Snappy Squeal NFT during Phase 1?
- In Phase 1, if you sell your Snappy Squeal NFT, any accumulated points are automatically transferred to the new owner. The new owner can claim the $GOODS tokens equivalent to the points earned once Phase 2 begins.
- Can $GOODS allocation and daily points rate change?
- Yes, until $GOODS tokens become claimable on-chain, we reserve the right to adjust the allocation of $GOODS and the daily points rate in both directions. This flexibility allows us to address any potential bugs or enhance the rewards system. Such adjustments could lead to an increase or decrease in the amount of $GOODS you can earn or claim, reflecting our commitment to fairness and the overall health of the ecosystem. Rest assured, any changes made will be communicated transparently to our community.
