Engage is Defactor's community engagement app designed to facilitate governance, staking, and community participation. It allows users to interact with the Defactor ecosystem by providing tools for voting on governance proposals, participating in staking programs to earn yields, and engaging in bounty programs. Additionally, Engage offers insights into the performance and distribution of the FACTR token and supports the application process for grants to fund innovative projects within the ecosystem.
For users, crypto staking involves depositing token holdings in a smart contract and locking them for a predetermined period in return for interest. By offering a staking service for your token holders, you can incentivise them to hold your tokens longer, reduce market volatility, and foster a stable and supportive community around your project. This section will guide you through the essential steps and configurations required to set up a staking service using Defactor’s Engage platform.
Use case example
Libertum is a Real Estate tokenisation project, aiming to unlock liquidity and break down the traditional barriers to entry via the tokenisation of rental yield.
Which chains and wallets are supported on Engage?
Which chains and wallets are supported on Engage?
Engage supports multiple blockchain networks including Ethereum, Polygon, and Algorand. Compatible wallets include MetaMask, Trust Wallet, and other WalletConnect-enabled wallets. We no longer support the Binance Smart Chain, so any old tokens would have been automatically transferred to the Polygon chain.
I have a problem with my wallet connection.
I have a problem with my wallet connection.
If you're experiencing issues with your wallet connection, ensure your wallet is updated to the latest version and connected to the correct network. Clear your browser cache and try reconnecting. If the problem persists, please contact us on Intercom (press the icon on the bottom right of your screen) with details about your email, wallet type and the issue.
How can I participate in a staking protocol?
How can I participate in a staking protocol?
To participate in a staking protocol on Engage, navigate to the Staking tab, select a Staking Pool, and follow the instructions to stake your FACTR tokens. Ensure your wallet is connected to the right chain and has sufficient tokens for staking. If you have more questions about staking, read this article.
How is the Annual Percentage Yield (APY) in the staking protocols calculated?
How is the Annual Percentage Yield (APY) in the staking protocols calculated?
The interest rate offered to stakers is expressed as a percentage per annum. This means if you engage in a staking protocol with an APY of 10%, this means that you will earn 10% interest on your staked tokens annually.
I cannot find my staked funds.
I cannot find my staked funds.
If you cannot find your staked funds, please ensure that you are viewing your staking position(s) on the correct chain. Check your transaction history for successful staking transactions. If issues persist, contact us on Intercom with your wallet address and transaction details.
I have old FACTR tokens tied to the Binance Smart Chain (BSC), what do I do?
I have old FACTR tokens tied to the Binance Smart Chain (BSC), what do I do?
If you have old FACTR tokens on BSC, you DO NOT need to bridge them to a new network. Just connect the same wallet address you used on BSC onto Polygon and you should find your tokens there. Please be aware of fake FACTR tokens and check that it is the correct token address before purchasing. Please contact us on Intercom if you need further assistance or information.
What is the FACTR token address?
What is the FACTR token address?
0xe0bCEEF36F3a6eFDd5EEBFACD591423f8549B9D5
Where can I buy FACTR token?
Where can I buy FACTR token?
You can buy FACTR right now on Uniswap.
Go to the Uniswap page and connect your wallet.
In either Polygon or Ethereum mode, select the bottom token dropdown.
Paste the contract address for FACTR into the dropdown, then select the Defactor token when it is listed.
A warning might appear because the token is not fully monitored in token sites such as Coinmarketcap yet, but if you use the correct token address, then you have nothing to worry about.
How does governance work on Engage?
How does governance work on Engage?
Governance on Engage allows FACTR token holders to vote on proposals that affect the ecosystem. Each token represents a vote, and proposals can range from protocol upgrades to community initiatives. Participate by connecting your wallet and casting votes in the Governance section. Read more about it here.
Why do I have to submit information about my email and wallet address during customer support?
Why do I have to submit information about my email and wallet address during customer support?
Submitting your email and wallet address helps the support team contact you through email to solve your issue. This ensures that you do not have to keep the Intercom tab open at all times. You will simply be notified when our customer support representative has responded to your question. Your wallet address submission can be an optional field but highly recommended if you have questions regarding an issue on Engage that could involve your FACTR tokens.
Note: This information is kept confidential and is only used to resolve your support request.
How does the Vesting process work?
How does the Vesting process work?
Vesting is a crucial mechanism for distributing crypto tokens to employees and investors over a predetermined period. By setting up a vesting schedule, you can ensure that tokens are released according to specific timelines, fostering long-term commitment and stability within your organisation.
What does the Vesting tab show?
What does the Vesting tab show?
Recipients of the FACTR token through the vesting process can monitor their token distribution status through the Engage platform. The platform provides real-time updates on the vested amounts and the remaining balance. The platform notifies recipients when tokens are released, keeping them informed about their vesting schedule and upcoming distributions. To learn more about Vesting visit Defactor Documentation.
Why don’t I see Vesting on my Engage dashboard?
Why don’t I see Vesting on my Engage dashboard?
This page should only be visible to users who’ve invested into Defactor and for some special cases. A regular community user should not have access to it. If you happen to come across the Vesting tab on Engage as a regular community, please let us know through Intercom.
What does the Buyback dashboard on Engage mean?
What does the Buyback dashboard on Engage mean?
The Buyback dashboard displays information about the platform's token buyback program, where Engage repurchases FACTR tokens from the market. This can help maintain token value and provide liquidity to the ecosystem. The dashboard provides details on buyback activities and their impact on token supply.
How do buybacks work?
How do buybacks work?
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.
Fee Payment: The fee amount depends on which smart contract the business wants to use.
Buyback Process:
The collected fees are used to buy back FACTR tokens from the open market.
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?
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.