YappaFi FAQs - ALL
What is YappaFi?
YappaFi is a user service for online communities worldwide to have audio and video conversations, discussions and commentary on their own platform URLs.
What is $YPA?
$YPA is a token reward system built on Blockchain technology with the most flexible and efficient way for brands to incentivize and interact with their followers, ambassadors and consumers.
What is the use case of YappaFi?
YappaFi is a tool for interaction and value exchange between the users and the community as a stand-alone part of the larger platform. Points can be spent on premium features and used to measure reputation community-wide. Users can buy real-world items from stores that offer thousands of goods and services.
How does it work?
Users earn tokens by contributing to the community’s development, performing useful actions, and leaving high-quality comments/Yaps. Once the user gets a hold of their tokens, they’re free to choose what to do next. They can start saving, for example, or jump right to the premium features, such as: Badges, Animated emojis, and GIFs.
What happens to my data?
The data from YappaFi can be bought and sold by users with discretion and consent.
What are the basic Tokenomics?
· Initial circulating supply: 186m
· Initial Market Cap: $9.3m
· Total supply: 1 billion
· Token symbol: $YPA
How do I earn YPA?
YPA is earned through engaging in normal activities a web user would normally do: surf, watch, engage etc. As users surf the web, watch content (with targeted ads), and engage with web content, at their discretion they will be voluntarily advertised to. Also users will have more and more options to sell their / loan their data to advertisers. Furthermore there will be continually more DeFi staking opportunities to passively earn more YPA.
Can you show me the Token distribution?
Token utility?
$YPA is a utility and governance token for the YappaFi network.
Can I stake YPA?
$YPA can be used for staking on the network and earning passive income.
What is Kyc?
The Know Your Client or Know Your Customer (KYC) verification is a set of standards and requirements used in the investment and financial services industries to ensure they have sufficient information about their clients, their risk profiles, and financial position.
What blockchain is YappaFi built on?
YappaFi is built on Polygon $(MATIC).
What exchanges can I buy and sell YappaFi tokens on?
Since YappaFi is built on Polygon (MATIC) - an Ethereum Layer 2 - when it comes to buying and selling YappaFi tokens on a DEX (Decentralised Exchange) typical ETH / MATIC DEX’s can be used to buy and sell YappaFi tokens for other cryptos built on MATIC including (but not limited to) :
Uniswap
Sushiswap
Droidex
Depending on when you’re reading this whitepaper, the YappaFi token might not yet be available to the public at all, available on a Dex, and / or whether the YappaFi token is on any centralised exchanges.
At the time of writing this white paper, YappaFi token had not gone through pre-seed sales.
Please note YappaFi must go through pre-seed sales, then seed sales, then ICO, then public listing for it to then go on a DEX. Once we have some DEX tractions we will do everything we can to then get onto centralised exchanges such as Binance, ByBit, Swissborg, Coinbase etc.
Please note getting on a centralised exchange can take some time.
Where can I store my YappaFi tokens?
You can store YappaFi tokens either on our native YappaFi wallet (which we recommend), on a hard wallet (which we recommend for the long-term), and / or on Metamask.
What is a wallet?
There’s two types of wallets - a hard wallet and a soft wallet.
If you’re looking for a hard wallet we recommend Ledger (https://shop.ledger.com/) *Not affiliated*.
Typically looking like an advanced pen drive / USB stick with a fancy screen on it, a hard wallet is a physical piece of hardware where you can physically store your digital crypto in, taking it offline and off the blockchain in what is known as ‘cold storage’. This is the ultimate level of security.
If you’re looking for a ‘soft wallet’ we first and foremost recommend downloading, and installing (mobile application and / or desktop application) our native YappaFi wallet. If you prefer, Metamask is a great alternative.
How do I set up a wallet?
To set up a native YappaFi Wallet + Instal Mobile Wallet + Instal Yapp Wallet Extension:
*Insert YappaFi wallet relevant tutorial page on website link*
2. To setup a Metamask wallet follow this tutorial by coindesk:
www.coindesk.com/learn/how-to-set-up-a-metamask-wallet
To add Polygon (MATIC) to Metamask - To be able to store, receive, view YappaFi tokens on Metamask, follow this tutorial by Binance Academy:
3. To set up a Ledger hardwallet *NOT AFFILIATED*:
https://support.ledger.com/hc/en-us/articles/360000613793-Set-up-your-Ledger-Nano-S
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