PlotBridge
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PlotBridge

FAQ

Q：Who are we?

A： We are Chia and forks farmers. We are working on develop apps to serve other farmers, to make our work and life a little easier.

Q：What problem we met?

A：Difficult to use: No DeFi, game or other app yet

  • Difficult to keep a lot of full-node wallets
  • It may require a couple of years for the ecosystem of Chia and forks to grow, to solve these problem.

Q: Why do you choose Binance Smart Chain (BSC)?

A: IMHO, BSC is the second popular smart chain for DeFi application. Ethereum is the most popular chain, but the transaction fee is always so high! So, a balanced choice is BSC.

We may also support more smart chain in the future, perhaps MATICS? Do you have a suggestion?

Q：What does PlotBridge do?

A:It connects Chia and forks to the Binance Smart Chain (BSC), and maybe more chains.Chia and forks (such as Chia, Chives, HDDcoin, Profit, etc.) can be converted 1:1 to tokens on BSC, and vice-versa.

We also plan to make more app for farmers, such as light-wallet.

Q: How long will it take to receive my WXCC/WXCH token?

A: After XCH/XCC arrive the deposit address, it usually takes less than 10 minutes to receive your WXCH/WXCC token.

If more than 10 minutes passed and the token still NOT arrive, please contact our team in Discord or Telegram official channel.

Q:Advantage for users

A:

As tokens in BSC, tokens can be used in DeFi systems, such as:

  • Instant swap to other tokens or BNB
  • Provide liquidity and get reward
  • Saving
  • Lending

So, these sleeping coins can be used, or sold easily. It’s also easier for people to buy coins and bridge back to Chia and forks native chain.

Q:Risk and our resolution

A:

Risk: Loss of coins,Coins need to be stored in PlotBridge wallets as custody. If we got hacked, or we “exit-scam”, coins will be lost.

Resolution: For each coin, there are 2 PlotBridge operation wallets:

  • 1.Checking account:Daily use for deposit and withdraw, keeper can mint WCoin without exceed the limitation.
  • 2.Saving account:Not used so often. Keeps most part of the custodial coins, controls the minting limitation.

The saving account and keeper can run in a computer running full-node inside firewall, under the admin of a more trustworthy team (such as the coin official team), so: If our checking account got hacked, or we “exit-scam”, coins in the saving account can still keep. The loss are limited.

Q：What we pay and earn

A:

Aside for team living and server maintenance. For each coin deposit, we need to pay for:

    1. WCoin mint
    1. WCoin mint limitation adjustment

We charge fee on:

  • 1.NFT mint
    1. WCoin deposit
    1. WCoin withdraw