📪CoinAvatar's FAQ

Here, we've compiled a comprehensive list of common inquiries and their corresponding answers to provide you with quick and accessible information about CoinAvatar platform!

What fees can I expect on CoinAvatar?

Here at CoinAvatar, we like to keep things straightforward and transparent. For activities such as minting NFT molds, minting NFT coins, and staking beyond the first time, there's a small fee of either $10 in stablecoins or $7.50 in CAV tokens equivalent. And if you're buying or selling on our marketplace, we take a modest 2% if you're using CAV tokens, or 2.5% for other cryptocurrencies.

What's the cost to create a coin on CoinAvatar?

Got a coin creation idea brewing? That's thrilling! To kick off your coin creation journey, you'll require a Metamask wallet and some CAV tokens. As for the cost, it's $10 in stablecoins or $7.50 in CAV tokens for the NFT mold, and the same amount for the NFT coin. Additionally, you'll need to secure a minimum of $1 in cryptocurrency, but the nominal value of each NFT coin should be at least 0.001, to lock into your new coin.

How can I get my hands on an NFT coin?

You've got a couple of options to score an NFT coin. If you're feeling creative, why not make your own? You'll need a Metamask wallet and some CAV tokens to start. Or if you prefer, browse our marketplace or other external ones for a coin that catches your eye.

What's so special about CoinAvatar?

CoinAvatar is an innovative platform that bridges NFT and DeFi capabilities, offering a fresh perspective on the value and utilization of NFTs. It connects NFTs with regular tokens and adds value to them, effectively bridging the gap to decentralized finance (DeFi). By locking cryptocurrency into each NFT coin, we help stabilize its value and safeguard it from dropping below the value of the locked-in cryptocurrency. This promotes a sense of security and assurance for NFT holders. Our NFT coins can generate staking rewards, bringing you closer to the world of DeFi. Plus, their liquid ability allows you to manage and trade them easily on marketplaces, both internal and external. Moreover, NFT coins on our platform are almost impossible to forge, as they represent locked-in cryptocurrency values. Users can easily verify a coin's authenticity by checking the amount of cryptocurrency locked in it.

How will I earn rewards?

CoinAvatar offers exciting staking opportunities. By staking your native CAV tokens or other supported cryptocurrencies, you not only safeguard your assets but also enable them to generate rewards for you. The specifics of staking can vary, but every approach aims to foster a rewarding platform experience.

We offer two distinct staking options:

Lending Protocols: Stake any cryptocurrency that CoinAvatar supports and start receiving rewards immediately. This method offers flexibility, as there's no enforced lock-in period, so you can unstake whenever you choose.

CAV Staking: This involves staking our native CoinAvatar token - CAV. Unlike the Lending protocol staking, CAV staking offers you more ways to increase your reward:

• Mold Fusion: The more your mold is fused, the higher your staking reward.

• Lock Period: The longer you stake, the larger your reward.

• Number of Coins: The more coins you stake, the more rewards you receive.

Please note, with CAV staking, your coins are committed until the end of the staking period. However, this commitment is balanced by the immediate availability of rewards after staking

How many NFT coins do I need to get started staking?

To get started with staking on the CoinAvatar platform, you need at least one NFT coin with locked-in crypto of a minimum value of $1 (but the nominal value of each NFT coin should be no less than 0.001). The crypto can be locked in as either CAV tokens or any other available cryptocurrency on the platform.

Can I take back the crypto I locked in NFT coins?

Yes, CoinAvatar allows users to retrieve their locked assets in NFT tokens at their convenience. If the NFT coin wasn't staked, it can be melted at any time to recover the staked assets.

The specifics for retrieving funds from staked coins vary based on the type of staking. If the coin is CAV-staked, it cannot be melted before the staking period concludes. When time comes, you will receive your CAV tokens back to your wallet.

If another cryptocurrency is staked, the early termination can be requested. Once confirmed, your funds will be returned in the currency that was originally locked in, and the coin will subsequently be melted. Also, remember that you always have the option to sell your NFT coin on the marketplace to recover your funds.

Which crypto can be staked? What are wrapped tokens? How to use them?

CoinAvatar supports a wide range of cryptocurrencies for staking, including ETH, USDT, USDC, BUSD, DAI, FRAX, USDP, TUSD, GUSD, SHIB, UNI, WBTC, LEO, LINK, FTT, CRO, QNT, APE, HT, CHZ, MANA, AAVE, SAND, and XCN. We also support wrapped tokens, which enable cross-blockchain transfers of value. Wrapped tokens, like WBTC, represent an equivalent value of another crypto, locked on a different blockchain. This offers flexibility and broadens your earning potential without having to switch to a third-party service.

When will my NFT coin bring a reward?

The rewards you receive from your NFT coin on CoinAvatar are influenced by the type of staking, the staking period, the number of fusions, and the number of locked tokens. If you opt to stake the native CAV token, you can choose the period range from 1 to 24 months. The principle is simple: the longer the staking period, the higher the interest rate. Also, bear in mind that the amount of your reward is also influenced by the number of locked tokens and fusions. Plus, you can start claiming your reward right after the staking commences.

Talking about DeFi staking, the rewards are sent to your crypto wallet in the same crypto you've staked. The timing and amounts hinge on the specific DeFi protocol employed. Once the staking period is over, your staked crypto will be returned to your wallet. Lastly, when you sell an NFT mold or a coin, you'll receive immediate rewards. This provides a swift return and encourages users to participate actively in the CoinAvatar ecosystem.

How does the CoinAvatar platform get revenue?

CoinAvatar generates revenue primarily through transparent transaction fees. We charge a fixed commission of $10 in stablecoins or $7.5 in CAV tokens for minting and fusing NFT molds, minting and demolishing NFT coins, and for staking NFT tokens more than once (with the first time being free). Also, the CoinAvatar marketplace levies a fee on selling offers of NFT coins/molds - 2% of the seller’s offer in CAV tokens, or 2.5% if the transaction is in other cryptocurrencies.

What are the withdrawal requirements on CoinAvatar?

Withdrawing assets after using the CoinAvatar platform is straightforward and puts you in control. Here's what to keep in mind: If you've created an NFT coin and later decide to demolish it, the locked crypto is immediately returned to your original wallet. Rewards you earn from staking or selling an NFT coin are also sent directly to your wallet. If you staked CAV tokens, there would be a button labeled 'claim' to receive your rewards Remember, if you've staked CAV tokens, you'll need to wait until the end of the staking period before your staked tokens are available in your wallet. Also, consider that transaction fees may apply, which will vary based on the blockchain network used. In case you need any help or further clarification, you're encouraged to connect with our community who are always ready to help. We're proud to have a robust and knowledgeable community where you can seek guidance.

What can I do with my NFT coin?

Your NFT coin in CoinAvatar opens up a world of opportunities for you. Not only can you hold onto it as a form of digital asset, but you can also stake the cryptocurrency locked into your coin to generate rewards, stake your coin itself since its a yield generation NFT, trade it on our internal marketplace or on popular external platforms like OpenSea, or even use it as a regular digital currency to purchase goods and services.

One key feature that sets our NFT coins apart is their similarity to Liquid tokens (LP). Just like LP tokens, our NFT coins give you the flexibility of using your assets. There is no barrier, such as a lock of assets inside the coin; instead, you can easily continue using it for yield optimization. This means that you can freely exchange your NFT coins for other NFTs or cryptocurrencies equivalent in value, which offers an additional layer of flexibility and versatility.

So, whether you're a seasoned crypto enthusiast or a newcomer, you can make the most of your NFT coins and explore numerous possibilities in the world of cryptocurrencies and digital assets.

Is there a limit on the number of mold fusions?

There's no set limit on the number of mold fusions you can perform on CoinAvatar. But keep in mind that each mold's fusion increases the time for the appearance of a new mold. We encourage our users to experiment and create unique combinations, enhancing their NFT coin's rarity and value.

Why is it beneficial for me to fuse molds?

Fusing molds on CoinAvatar can open the door to numerous benefits for users like you. This process allows you to craft unique NFT coins with rare attributes that can significantly enhance their value and appeal within the marketplace. These distinguishing features can make your NFT coins stand out amidst a sea of generic alternatives, potentially making them more desirable to prospective buyers or traders. Moreover, the benefits extend beyond just aesthetic appeal and market value. If you plan on creating coins from fused molds and connect them to staking on our platform, the rewards you can reap are even more attractive. Staking coins created from fused molds can generate higher returns compared to staking regular coins. So not only can you create bespoke, visually appealing NFT coins, but you can also leverage them to maximize your staking rewards on CoinAvatar. The fusion of molds thus becomes a strategic move that marries creativity with profitability.

When can I list the created NFT coin or mold on the marketplace?

You can list your NFT coin or mold on the CoinAvatar marketplace as soon as it's created and the transaction has been confirmed. We aim to make the process as smooth as possible, allowing you to trade your unique NFTs without delay.

What are CAV staking lock periods, and what are they?

The CAV staking lock periods refer to the timeframe during which your staked CAV tokens are locked and generating staking rewards. On the CoinAvatar platform, you can choose to stake for 1, 3, 6, 9, 12, or 24 months. The longer the chosen staking term, the higher the interest rate you receive.

My problem wasn't addressed here. How do I contact the CoinAvatar team?

If your question hasn't been covered in this FAQ, we're here to help. While CoinAvatar does not have a direct support team, we have a thriving and knowledgeable community ready to assist. You can connect with us and other users on our official social media channels, where a variety of common issues and topics are regularly discussed. There, you can ask your questions and benefit from the collective knowledge of CoinAvatar users from all around the world. Or you can alway send us a letter to [e-mail] and we will answer your request within 48 hours.

What is a mold on the CoinAvatar platform?

A mold on the CoinAvatar platform is a unique, digital blueprint used to create NFT coins. Each mold comes with its distinct attributes and characteristics, which are then reflected in the NFT coin created from it. By creating or purchasing molds, you can craft NFT coins that truly resonate with your style and preferences.

Where can I sell the created NFT coins and molds?

The NFT coins and molds you create on CoinAvatar can be sold directly on our internal marketplace, allowing you to trade with other users on our platform. Beyond our own marketplace, you also have the freedom to list your NFT coins and molds on numerous external marketplaces. These include leading platforms like OpenSea, Blur, LooksRare, Magic Eden, Nifty Gateway, Rarible, and lots of others.[check out the whole list here]. Each of these platforms is compatible with Ethereum, and by listing your NFTs here, you'll gain exposure to a much larger audience, thereby increasing your opportunities for successful sales. Please remember to check each platform's specific listing requirements before proceeding.

What are the risks of earning rewards with CoinAvatar?

While CoinAvatar offers an engaging and potentially lucrative opportunity for NFT enthusiasts and those interested in DeFi, it's important to understand that engaging in cryptocurrency activities, including staking, comes with inherent risks. These risks primarily involve market volatility which could lead to a fluctuation in the value of your staked assets.

However, at CoinAvatar, we prioritize the security and welfare of our users. We employ comprehensive security measures to ensure the integrity and safety of all transactions on our platform. It's equally important to be aware that as with any venture, the value of your assets can both increase and decrease. Therefore, we always recommend conducting thorough research and considering your financial situation before engaging in any form of trading or staking.

In what currency will I receive rewards from staking?

The rewards from staking on the CoinAvatar platform are usually given in the same cryptocurrency that you chose for staking. For example, if you've staked CAV tokens, your staking rewards will be in CAV tokens.

How can I affect the value of my NFT coin?

The value of your NFT coin can be influenced by a variety of factors, including its rarity, the value of the locked-in cryptocurrency, and market demand. By creating unique and appealing NFT coins through different mold fusions and keeping them connected to staking, you can potentially increase their value over time.

Can I use CoinAvatar to buy cryptocurrency with fiat?

As of now, CoinAvatar does not support buying cryptocurrencies directly on the platform. You would need to purchase your desired cryptocurrency on a trusted exchange first. After acquiring your cryptocurrency, you can easily connect your digital wallet (like MetaMask) with CoinAvatar to utilize the platform's features. All your digital assets and tokens remain securely within your own wallet, giving you complete control and ensuring CoinAvatar does not hold any user's funds.

What is the maximum number of NFT coins/molds I can create on CoinAvatar?

At CoinAvatar, the sky's the limit when it comes to creating NFT coins or molds. We do not enforce a cap on the number you can create.

What kind of materials can I use to create an NFT coin/mold on CoinAvatar?

Creating an NFT mold or coin on CoinAvatar involves a seamless, user-friendly process:

Connect Your Wallet: Ensure it contains sufficient CAV tokens for minting. Mint a Mold: Select this option and provide a creative input, known as "entropy". Algorithm Processing: Our system uses your entropy to create a unique NFT mold with various attributes. Create a Coin: Using the newly minted mold, create a coin. The coin's material depends on the amount of locked-in cryptocurrency. Coin Attributes: Each coin holds unique attributes adding to its value.

Note: CoinAvatar does not support external materials or designs. The uniqueness of each mold and coin comes from your entropy and our algorithm. Explore CoinAvatar today and discover the art of creating distinctive NFTs!

Do I need any prior experience in 3D modeling to create NFT coins/molds on CoinAvatar?

No, you don't need any prior experience in 3D modeling to create NFT coins or molds on CoinAvatar. Our platform is fully automated and user-friendly. The process of generating molds and coins is based on your creative input, known as "entropy", and the existing attributes in our system. Your role is simply to express your creativity during the entropy phase; our platform handles the rest. Thus, users of all skill levels can enjoy the CoinAvatar experience.

Does CoinAvatar offer any support or guidance during the NFT coin/mold creation process?

CoinAvatar provides comprehensive guidance throughout the NFT coin/mold creation process. We have a wide range of in-depth tutorials and step-by-step guides available on our platform that are designed to make the creation experience easy and enjoyable.

We have a vibrant and knowledgeable community of users who are always willing to help. You can interact with them and ask for advice or assistance on our official social media channels or community forums. You'd be surprised how quickly fellow users can provide solutions or give you new insights!

Remember, while the CoinAvatar platform is designed to be intuitive and user-friendly, there's always something new to learn from our diverse and inclusive community. Don't hesitate to engage and explore, as that's part of the excitement in the world of NFTs!

How can I track my staking rewards on CoinAvatar?

Your staking rewards on CoinAvatar can be tracked directly from your connected wallet, such as Metamask. CoinAvatar operations happen on-chain, and the transactions are recorded on the blockchain. Your staking rewards are sent directly to your wallet. You can view the transaction history and keep track of your staking rewards. This ensures you have full control over and access to your assets at all times.

How to get the rarest attribute for an NFT mold or a coin?

To get the rarest attribute for an NFT mold or coin on CoinAvatar, you need to do two things. First, combine two or more molds together. This process, called mold fusion, can create a new mold with even rarer attributes. Second, lock more cryptocurrency into your NFT. The more you lock in, the rarer your coin can become. This can make your NFT coin more valuable and attractive.

What are attribute pools?

The attribute pools on CoinAvatar currently consist of a general pool and a unique pool. The general pool is open to all users and includes common attributes. The unique pool, on the other hand, contains rarer attributes and is accessible to users who have a higher activity level on the platform. Through actions like creating and fusing molds, users can increase their access level and unlock the unique pool of attributes.