FAQ
1. What is PiggyBank?
PiggyBank is a GameFi product designed to create a unique and captivating environment where users can stake their idle crypto assets, generate yield in the form of credits, and use these credits to obtain Lootboxes filled with memecoins.
These Lootboxes contain random amounts of specific memecoins and more, delivering an engaging, gamified experience for both casual players and high rollers. Whether users choose to claim, sell, or trade these tokens, PiggyBank offers flexibility and fun within the crypto-staking ecosystem.
2. What are the PiggyBank Vaults?
PiggyBank are our specially themed vaults where you can stake your yield-ineffective assets (aka idle bags), obtain credits, and then use these credits to open Lootboxes with RNG-determined content, including bluechip meme tokens, mid-caps, credits, and more.
Through the dynamic nature of varied rewards and the randomized potential for exponential returns, we create a gamified staking experience for those who enjoy high-reward opportunities and are looking to get easy exposure to a high potential portfolio of memecoins without sacrificing their capital.
3. What is a Lootbox?
A Lootbox is a digital crate filled with exciting surprises! Exchange your Credits for one of our standard Lootboxes or dabble into the experimental side by choosing a special/thematic Lootbox which could only be available for a limited period.
4. How can I earn Credits?
You can earn Credits by staking your tokens to the corresponding PiggyBank! The more you stake, the larger your daily credit bonus will be.
Click ‘Earn’ at the top of the page, then click the “Make a Deposit” button. (Or click the “Make a Deposit” button anywhere else you can spot it on the page)
You will then be prompted to connect your wallet, select the wallet you prefer from the list then click the ‘Sign Message’ button and confirm the transaction signature in your wallet.
After that, you will be prompted to select one of the available vaults.
Currently, there are two vaults. One with no timelock(meaning your funds will be available for withdrawal at any time you decide) but no upfront credit yield.
One with a 90-day timelock(meaning your funds will be locked for 90 days from the moment you stake)and 50% of estimated credits earned in 90 days delivered upfront.
Select the one you prefer, then choose the amount of tokens(currently available only as USDC) you want to Deposit(stake).
You will then be prompted to confirm this transaction from your wallet and afterwards, you will receive a confirmation window letting you know that your deposit has been successfully processed.
5. Can I withdraw my Credits?
Credits are points on a conceptual reward system for use only inside the PiggyBank ecosystem and not an actual token on a blockchain, therefore they cannot be withdrawn. However, after opening a Lootbox acquired by exchanging Credits, all the prizes you receive can be withdrawn, or sold for more credits.
6. How can I see my PiggyBank (vaults I’m staking in)?
For you to see the PiggyBank you are staking money in, and a bunch of interesting stats along with it, you will have to click “Dashboard” at the top of the page.
7. How can I withdraw my Lootbox rewards?
Go to the “Dashboard” tab. Under the piggybanks you are staking in, there will be a panel with your Lootbox rewards.
Click "Withdraw All". You can also choose to exchange rewards for more Credits if you'd like!
V1- Manual settlement period after requesting withdrawal. Settlement time: 1-24h
V2- Automatic withdrawal
8. Can I sell the tokens I receive from opening Lootboxes?
Yes, you can exchange your Lootbox rewards for Credits. Click the 'Dashboard' tab, scrolll down and select the item/s you want to exchange and press "Exchange." This allows you to trade your rewards for more Credits.
9. I ran out of Credits, what should I do?
It happens to the best of us! You can either wait for more Credits to accumulate in your balance from staking, or you can make another deposit to one of our instant-reward vaults* to instantly receive a credit upfront delivery.
10. How often do I get rewards?
Daily! You earn Credits every 24 hours, whether it's a weekday or weekend. There are no days off when it comes to rewards on PiggyBank!
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