Frequently Asked Questions (FAQ)

What is MultiversX?

MultiversX (formerly Elrond) is a highly scalable, fast, and secure blockchain platform for distributed apps, enterprise use cases, and the new internet economy. It is known for its innovative "Adaptive State Sharding" technology, which allows it to process a high volume of transactions at a low cost.

Think of it as a super-efficient digital ledger that can handle many operations simultaneously, making it ideal for complex applications like DeFi and DAOs.

What is eBuds?

eBuds is a Decentralized Autonomous Community (DAO) built on the MultiversX blockchain. Our goal is to create an inclusive and rewarding ecosystem where community members actively participate in governance, benefit from tokenized incentives, and engage with unique NFT utilities.

We aim to empower our members by giving them a real voice in the project's direction and sharing in its success.

How can I get started with eBuds?

To start interacting with the eBuds project, you'll generally need to follow these steps:

  • Get a MultiversX Wallet: You'll need a compatible wallet to hold MultiversX-based tokens (like EGLD, EBUD, LUV) and NFTs. The official xPortal app is a popular choice.
  • Acquire EGLD: EGLD is the native currency of the MultiversX blockchain, used for transaction fees. You can acquire EGLD from various cryptocurrency exchanges.
  • Get eBuds Tokens (EBUD/LUV): You can typically acquire EBUD and LUV tokens on decentralized exchanges (DEXs) within the MultiversX ecosystem, such as xExchange or Jexchange.
  • Acquire an eBudsNFT (Optional but Recommended): Holding an eBudsNFT grants you governance rights and access to specific rewards and features within our ecosystem. You can find our NFTs on platforms like xSpotlight or marketplaces like XOXNO.
  • Join the Community: Engage with us on platforms like Discord and Telegram to stay updated, ask questions, and participate in discussions.
  • Participate in Governance: If you hold eBudsNFTs or EBUD tokens (depending on governance rules), you can participate in DAO proposals and voting, typically through a platform like PeerMe.

Always ensure you are interacting with official links and be cautious of scams. Check our official website and community channels for the most up-to-date information.

What are EBUD and LUV tokens?

EBUD is our primary utility and reward token. It's used for governance participation, staking rewards (as per v.1 mechanics, evolving with v.2), and will be integrated into various ecosystem utilities.

LUV is our secondary token, primarily designed to support the liquidity of EBUD. It plays a crucial role in maintaining stable trading pairs and may have future uses for loyalty rewards within the community.

How do eBudsNFTs work?

eBudsNFTs are more than just digital collectibles. They represent your stake and membership within the eBudsDAC.

  • Governance Rights: Holding an NFT typically grants you voting power in DAO decisions.
  • Reward Eligibility: NFT holders were eligible for EBUD token rewards under the v.1 system. The reward mechanisms may evolve with v.2 and future developments.
  • Exclusive Access: NFTs can provide access to special community channels, events, or features.

Each NFT is a unique digital asset on the MultiversX blockchain, providing both utility and a distinct identity within our ecosystem.

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