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Token Exchange
Our token exchange dashboard allows the users to perform make a deposit (convert on-chain tokens into in-app tokens) and make a withdrawal (convert in-app tokens into on-chain tokens).
Each publisher is provided with access to a token exchange dashboard wherein authenticated users can perform token deposits (convert on-chain tokens into in-app tokens) or withdrawals (convert in-app tokens into on-chain tokens).
Note that this dashboard is a template, we can re-design accordingly to match the publisher's website.
- 1.This panel shows you the list of NFTs that are currently in your wallet, along with its XR (exchange rate). NFT’s can have a XR value based on their rarity. An NFT with a higher XR gives the user a better conversion rate between in-game to on-chain token conversion
- 2.This panel shows you with a summary of the deposit and withdrawal transaction
- 3.This panel shows you your current in-game and on-chain currency
- 4.This panel allows you to switch between two transaction modes: deposit and withdrawal
- 5.This is an input box wherein you can enter the amount of tokens you want to deposit or withdraw
- 6.This panel shows you the amount of tokens that you will receive after an exchange
- 7.This panel shows your token exchange history
When you make a deposit, you convert on-chain tokens into in-game tokens. The following applies:
- The default exchange rate is 1 (100%). For example, if a user deposits 1000 on-chain tokens, the user will receive 1000 in-game tokens
- There is no limit when depositing - a user can exchange as many on-chain tokens as they need for in-game tokens
When you make a withdrawal, you convert in-game tokens into on-chain tokens. The following applies:
- There are two types of exchange rates that can be applied:
- The first is a fixed rate that does not depend on the NFT equipped at the time of conversion
- The second is a variable rate that depends on the rarity of NFT equipped at the time of conversion
- For example, let's say that the exchange rate is 25% and a user does not equip a NFT at the time of conversion
- When the user attempts to withdraw 1000 in-game tokens, then they will only receive 750 on-chain tokens
- However, if the user equips an NFT and the NFT rarity’s rate is 10, then when attempts to withdraw 1000 in-game tokens, then they will receive 900 on-chain tokens
- It is possible to make it mandatory/optional for users to equip an NFT when withdrawing in-app tokens
- Daily, weekly and monthly withdrawal limits can be set to preserve the integrity of your token ecosystem
- This can apply to NFTs being used in withdrawals too
- When a user makes a deposit, our backend sends a deposit confirmation notification to the game, only if the user succeeds in executing the transaction using our smart contract
- When a user makes a withdrawal, the exchange can only be made if the user’s in-game token balance is sufficient
- The withdrawal will only commence once a notification has been received from the game that the in-game token balance has been reduced according to the withdrawal request
- If a transaction fails due to issues related to network connectivity, a notification will be sent to the game to reimburse the user’s in-game tokens
- All pending token exchanges are executed one at a time in sequential order
Last modified 1yr ago