Solutions is what we provide
FAQ
Check out the following answers to questions frequently asked about CUDOS Markets in the community
CUDOS Markets removes all the technical complexities associated with Bitcoin mining for all Bitcoin enthusiasts. You can now start receiving BTC rewards by owning hashrate collectibles. In the near future, you will be able to challenge other collectors in exciting games, for the chance to win extra hashrate.
Hashrate refers to the rate at which hashes are produced. Producing or solving hashes is what miners do to mine a block, meaning to get a reward and to get that block appended to the blockchain.
Traditional hashrate contracts are illiquid. CUDOS Markets brings liquidity through hashrate collectibles using NFTs as a way to certify the ownership of the underlying hashrate and collectible artwork. Users will be able to buy/resell their collectibles at any time on CUDOS Markets once that functionality is made available.
You can find a walkthrough video here or follow the steps below.
- Connect your Keplr or Cosmostation wallet for paying for your collectible(s). Additionally, you can connect your MetaMask wallet as well if you wish to pay for your collectible(s) with ETH.
- Pass the KYC checks (no documentation needed for less than $1k spend).
- Pay the due amount with either CUDOS or ETH.
- Your collectible will be minted as an NFT and transferred to your wallet. You can connect to the CUDOS Markets marketplace anytime to view your collectibles.
Your browser’s cache might have stored conflicting information. Do a hard refresh of your browser by holding down the Shift key while refreshing the page.
You need to have a Bitcoin wallet to receive your rewards. Add your Bitcoin wallet address to your profile on CUDOS Markets.
Find a detailed guide on how to set up a Keplr Wallet here.
Find a detailed guide on how to set up a Cosmostation wallet here.
There are several ways to acquire CUDOS tokens. Here are a few examples:
-
- If you hold assets with Coinbase, you can exchange these for CUDOS. Find a guide on how to achieve this here.
- If you hold assets with Binance, you can exchange these for CUDOS. Find a guide on how to achieve this here.
- Crypto assets can be exchanged for CUDOS at a variety of crypto exchanges such as Change Now.
Please note that if you buy the ERC-20 version of the token you will need to move that to the Cudos Network using the Cudos Bridge.
Find a detailed guide on how to get CUDOS tokens here.
Find a detailed guide on how to set up a MetaMask wallet here.
There are many options to set up a Bitcoin wallet address; an example can be found here.
Navigate to your profile page on Cudos Markets.
1. If a wallet has not been added yet, you will see a banner with orange text and a “Add BTC Address” button.
2. Click the button, add your wallet address in the respective field and save the changes. Keplr or Cosmostation will prompt you to approve and pay for the transaction.
3. Your Bitcoin wallet has now been connected to your profile. You may update the wallet address in the future if you wish to.
The Bitcoin earned depends on the total hashrate of the Bitcoin network. There are different models and predictions to try and estimate these parameters, so please do your own research if you wish to go deeper into this subject. We do provide a rewards calculator, which uses a simplified linear model that you can use to see what would happen on average over the whole course of the collectible contract.
The rewards calculator is a basic estimator which is best used as a starting point for you toward understanding the important parameters and building your own forecasts.
The option to sell will not be available from the beginning, but it is in the works. Keep in touch for updates on this feature.
No. CUDOS Markets will do all the heavy lifting on your behalf. Over time you’ll understand the various terms used if you stay engaged with us, such as halving and difficulty rate. Until then, you can hodl your satoshis.
Two fees will be deducted from your rewards. (There will be no further deductions from the returns seen on the calculator).
-
- Mining Pool Fees: There will be a 2% mining pool fee for all rewards generated by the hashrate that you own.
- Maintenance Fees: A maintenance fee for all electricity costs, labour, and upkeep of the facilities will also be deducted. It will vary from farm to farm and will be shown to the user before purchasing a hashrate digital collectible.
There is a 2.5% fee charged by the platform in case you sell your collectible in the secondary marketplace. Mining farms also charge a fee on secondary sales that is capped at 10%. Blockmole is charging 2.5%.
The fees stated above will always be deducted from the earnings, and buyers will never incur out-of-pocket expenses for example, if the fees exceed the earnings.
There is no guarantee of making a profit from your hashrate collectibles. Rewards are a utility of the hashrate collectible and can vary depending on the market price of BTC, the difficulty rating of the Bitcoin network and the transaction fees on the Bitcoin network. The CUDOS Markets marketplace includes a calculator tool for you to assess the risk/reward based on the parameters entered.
The rewards calculator is a basic estimator which is best used as a starting point for you toward understanding the important parameters and building your own forecasts.
Every farm has to pass a due diligence process before being verified to list their hashrate collection publicly on the CUDOS Markets marketplace. Information will be provided by the farm to help you with your purchase decision.
As the hashrate you are buying is tied to a specific mining farm, which is not transferable to another mining farm, your hashrate collectible purchased from that mining farm will stop receiving rewards. The maintenance costs and pool fees deducted from you will also stop automatically. There are specific clauses in our terms and conditions that go through this scenario in more detail.
New Bitcoin mining farms will have to pass a strict due diligence process before they are able to list their collection on the CUDOS Markets marketplace. The due diligence process covers finances, physical environment, energy source, and team. Whilst CUDOS Markets’s due diligence process is designed to minimize risk, buyers are still advised to ‘DYOR’, with each Bitcoin mining farm page on the marketplace showing the name and details of the mining farm.
- Blue Diamond: 170 TH/s
- Diamond: 100 TH/s
- Emerald: 33 TH/s
- Ruby: 10 TH/s
- Opal: 5 TH/s
- If you don’t have one already, set up a Keplr or Cosmostation wallet.
- Get your wallet address whitelisted for the pre-sale here.
- Top up your Keplr wallet with CUDOS tokens to cover fees on the CUDOS blockchain and the collectible price.
- If you don’t have one already, set up a BTC wallet address.
- (Optional) If you don’t have one already, set up a MetaMask wallet.
- (Optional)Top up your MetaMask with Ether to cover the collectible price and Ethereum fees.
During the pre-sale and public sale phases you will be able to purchase collectibles with both CUDOS and ETH. However, you will need CUDOS to add your Bitcoin wallet address to your collectible so you can receive the subsequent rewards.
There are several ways to acquire CUDOS tokens. Here are a few examples:
-
- If you hold assets with Coinbase, you can exchange these for CUDOS. Find a guide on how to achieve this here.
- If you hold assets with Binance, you can exchange these for CUDOS. Find a guide on how to achieve this here.
- Crypto assets can be exchanged for CUDOS at a variety of crypto exchanges such as Change Now.Please note that if you buy the ERC-20 version of the token you will need to move that to the Cudos Network using theCudos Bridge.
Our video guide shows you how to buy your collectible with CUDOS via Keplr. The process for buying with ETH via MetaMask is similar, the difference being that you will get a pop-up window to approve the transactions from MetaMask instead of Keplr.
No, you will not be able to sell your NFT right after the mint. We will announce the time of Marketplace launch soon after the mint.
You can use this calculator to get a forecast on your earnings. Simply type in your collectible(s) hashrate for a current estimation, or play around with the values to make your own predictions. Please note that this is a very simplified linear model, which is best used as a starting point for understanding the important parameters and building your own forecasts.
Unfortunately, US and sanctioned personas will not be able to buy Hashrate Collectibles, as well as citizens of the other restricted countries. You can find the full list of countries in our terms and conditions.
CUDOS Markets is a marketplace connecting buyers and sellers of hashrate, providing sellers with a way to generate reliable revenue streams and decrease the time to ROI hardware.
- Create a Farm account
- Follow the steps and complete the farm details fields
- Upload a picture of your mining farm
- Complete the due diligence forms
- Submit for verification
- Once verified, upload your artwork and go live with your listing
We do recommend that in these early stages of the project, you get in touch with us if you wish to register your farm. You can reach out to us at [email protected]
We are here to support you and provide your hashrate collection with the best possible chance for success. If you need help with finding an artist, building a community or running a whitelist and presale campaign, then get in touch.
- For each new collection, the mining farm will set the price per terahash, plus the monthly maintenance fee per terahash. This is all part of the collection listing process and as a marketplace, the fee is set by the mining farm, not CUDOS Markets
- As each collectible sells, the mining farm will be paid 90% of the sales revenue for that collectible
- For the term length of the hashrate contract built into each collectible, the mining farm will receive the monthly per terahash maintenance fee set during the listing process
- 10% of the primary sale
- 10% commission on the monthly maintenance fee
- 2% mining pool fee on the unsold hashrate.
- 2.5% fee on secondary sales.
- The hashrate and hashrate revenue is only rerouted to the new owner when sold. Any unsold hashrate remains under the ownership of the mining farm
- A 2% pool fee is deducted from the farm’s BTC earnings prior to sale. This fee is deducted from the collectors revenue once the hashrate has been sold.
Yes, CUDOS Markets is a marketplace for clean energy powered mining farms to sell their hashrate.
For custodial services such as centralised exchanges, please contact our team at [email protected] to discuss how CUDOS Markets collections and/or the rewards they produce, can integrate with your platform.
For non custodial services including DEX’s, DeFi protocols and crypto wallets, CUDOS Markets will add further supported blockchains in the future. Please contact our team or apply for a grant via the Cudos Foundation – https://cudos.foundation/
CUDOS Markets is an NFT marketplace powered by the CUDOS blockchain, a layer 1 blockchain built using the Cosmos SDK. Adding support for other chains is a roadmap item to be explored in the future.
Please get in touch with us to discuss at [email protected]
- If you would like to discuss bulk hashrate purchase options, please contact our team at [email protected].