Wallet & Blockchain
All transactions in the application are made on the blockchain and require a commission in BNB tokens. The fee amount depends on many parameters, such as user activity on the blockchain, the number of validators, and the demand for transaction verification. Simply put, the more transactions the blockchain processes at the moment, the higher the commission. The commission does not depend on the funds involved in the transaction!
The commission is determined only at the time of processing the transaction. Before it is done, we only give an estimate made with the help of third-party services. Therefore, the commission may differ from the estimate.
Swap transactions are even more complicated: apart from the commission of the blockchain itself, there is also the commission of the exchange (we use Biswap), which is usually 0.3%, and slippage (change in the price ratio after the transaction has started to be executed).
The IGU listing will take place on OKX and Kucoin on Feb 16, 12:00 UTC, and Feb 17, 10:00 UTC. Follow the announcements in our official social networks, more exchanges to be announced! Telegram: https://t.me/Iguverse Instagram: https://www.instagram.com/iguverse/ Website: https://iguverse.com/ Twitter: https://twitter.com/iguverse Medium: https://medium.com/@iguverse
In the meantime, download the app and play!
IguVerse app: iguv.cc/d
- 1.The seed phrase is stored in the application in an encrypted form in the KeyStore.
- 2.The seed phrase is needed to carry out transactions on the blockchain initiated by the client.
- 3.The server does not access the client's seed phrase, but sends a signedurl, which the client signs with a private key (seed phrase), which, in turn, is stored on the client's device.
The server does not have access to or take control of the seed phrase, and only has access to the wallet's public address.
All IguVerse contracts have been audited by CertiK.
If you have any concerns about this, use the internal wallet created in the application itself, do not import your own.
Some transactions on the blockchain may not go through. Since some computing power is allocated to process the transaction before it is canceled, the fee is deducted in the amount necessary to reward the validators who processed it.
One of the reasons why swap transactions might fail is slippage. It is the difference in the value of the token between the time the user initiated the swap and the actual transaction completion. Most DEXes set max slippage, automatically reverting the transaction if the change in the value of the token is greater than a certain threshold.
Slippage control is a protective mechanism that limits user's risk from rapid price changes and, most importantly, sandwich bots that buy the token before the user and sell it right after the user buys.
Although the transaction fee is still deducted, the user would've lost more if the transaction had gone through.
BNB Chain is a reliable blockchain where transactions fail very infrequently. So most likely you will no longer encounter failed transactions.