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Understanding Your Engage dashboard
Understanding Your Engage dashboard

All the information you need to get started and understand the features on Engage.

Updated over 4 months ago

Welcome to Engage, the Defactor community engagement web-app. We believe in empowering our community and fostering active involvement. which is why we've developed the Engage community portal.

Let’s dive into how to get started on Engage.

Accessing Engage

To begin, simply visit our website at defactor.com/engage to learn more about Engage. Once you're ready to enter the app, click on ‘Launch app’ (Alternatively, you can directly visit engage.defactor.com).

Once you have arrived at Engage, you will be greeted by the ‘FACTR Dashboard’. This dashboard provides you with important information, including:

  1. The current circulating supply of FACTR

  2. What networks the FACTR token is available on

  3. The amount of tokens bought back through FACTR activities

  4. The total amount of FACTR staked

Web view

If you're accessing Engage through the web dashboard, this is what you'll see.

Mobile View

  • The 'Auto Buybacks' show the amount of FACTR tokens which have been bought back using revenue generated in the ecosystem.

    • This buy back mechanism creates a circular economy with a fixed supply, with revenue going in that buys tokens, takes them off the market, and then drips them back into the ecosystem wallets to keep them flowing.

  • The 'Total Staked' shows the token amount of tokens in circulation, and based on the above image, 43.6 million is currently staked out of the entire circulating supply.

Connect your wallet

To start engaging, you'll need to connect your wallet. Simply click on the top right corner of the screen to prompt the wallet connection. You can use popular wallets like Metamask, WalletConnect, or the Pera Wallet from Algorand.

If you require more information, we recommend reading our article on Connecting Your Wallet before proceeding.

Once your wallet is connected, your balance will be displayed in the top right corner of the screen, confirming that you're successfully logged in to Engage!

Ecosystem wallets

Several wallets were created as part of the Engage ecosystem to show the circulating supply of FACTR tokens. Below, you can find the ecosystem wallets that are part of the Engage ecosystem, each with a specific purpose:

  1. Token sales and launch partners: Demonstrates the initial token sale and launch partners and the FACTR amount changes slightly as the current market is completely distributed.

  2. Team: Tokens here are issued whereby in every six months 15% of the balance (as seen in the 'Amount' column) is available for distribution to the team or teams working on the Engage ecosystem.

  3. Foundation: This wallet is controlled by the Defactor association and no tokens are being used or allocated from this.

  4. Ecosystem & Partners: The purpose of this wallet is to grow the ecosystem and the Defactor partner network. A majority of these tokens have been used to add liquidity onto centralised exchanges and Defactor's decentralised exchanges.

  5. Staking rewards: Any user that participates in the staking protocol that locks up their tokens for a period of time will receive tokens from this wallet.

Web View

As tokens are bought back from the market, they are then locked for 12 months as will be displayed in the 'Auto Buybacks' column of the FACTR dashboard. After, the tokens will then be distributed to their respective wallets again.

Mobile View

Staking Overview

This section of the dashboard showcases your Total Value Locked (TVL) and displays the pools in which you have an active position. By locking up your FACTR tokens, you can earn yields and participate in various staking programs.

Here's an example:

After choosing the staking pool you want to participate in, your dashboard will resemble the following:

Web View

Why can't I unstake and claim my tokens from my staking protocol?

If the "Unstake & Claim" or "Claim" button do not appear next to the staking protocols shown in "My Positions", please check if you are connected to the wallet of the chain you had made staking pledges in. So as the image shows above, the current wallet is connected to the Algorand chain and the staking protocols were also made on the Algorand chain (shown under Chain).

Mobile View

For more information on staking options, please refer to our article titled Staking on Engage, which provides details about the three available staking pools.

BuyBack Overview

Buybacks are one of the monetisation mechanisms in the Defactor ecosystem. They help increase the value of FACTR tokens and provide more value to all token holders.

Web View

How do buybacks work?

  1. Onboarding New Businesses: When a new business is onboarded to the Defactor ecosystem and wishes to start using the TOOLKIT, they need to pay a fee to access the smart contracts.

  2. Fee Payment: The fee amount depends on which smart contract the business wants to use.

  3. Buyback Process:

    1. The collected fees are used to buy back FACTR tokens from the open market.

    2. The purchased FACTR tokens are then locked up for one year, removing them from the circulating supply.

What is the impact of buybacks on FACTR tokens?

By removing FACTR tokens from the circulating supply, buybacks directly affect the price of the token, raising its value. This benefits all token holders by increasing the overall value of their holdings.

Web View

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