Frequently Asked Questions

A list of frequently asked questions, updated regularly as new questions come up.

What are bitgems?

bitgems are NFTs that are earned by staking Fantom. Bitgems are limited in quantity and become progressively harder to earn over time, just like real gems.

How does Bitgem Work?

Bitgem works by letting you stake your tokens or ethereum to earn an nft gem. Each time someone earns a gem by submitting a mature claim, the stake needed to claim the next gem increases in price. You can buy as many claims as you want at the listed price. Each claim has a minimum and maximum staking period you can select, and the longer your claim maturity period is, the less you need to stake. Your tokens are held in your claim until you collect it, which you can do at any time, but collecting a claim before it matures will not earn you a gem.

How can I get a bitgem?

bitgems are earned by creating a staking claim. to create a staking claim, pick the gem you want to earn and the amount of time you want to wait to earn it (longer claims require less capital to stake with. once the claim is mature, collect your claim to receive your principal back along with a new gem!

is my money locked until my claim matures?

no! if you need to break a claim for whatever reason, you can do so with no penalty. you'll receive 100% of your deposited funds back immediately, no questions asked.

how much does it cost to earn a bitgem?

creating a Bitgem staking claim and breaking a Bitgem claim early is free. redeeming a mature claim applies a 0.1% fee incurred on your principal deposit applied when your deposit and Bitgem are sent to you.

Is my money safe?

Yes! Bitgem is a secure and decentralized protocol, designed to ensure that funds banked within its contracts cannot be withdrawn by anyone except the claim holder. Nobody else can access your tokens except you. independent audits are being performed on bitgem to ensure your funds are safe.

What are Bitgems good for?

What is bitcoin good for? Bitgems are an experiment in non-fungible digital scarcity. Bitgems are bitcoin's missing jewels - digital artifacts that bear the collected value of all the staking activity of those that transact them, just like bitcoin.

Is my money locked until my claim matures?

No! if you need to break a claim for whatever reason, you can do so with no penalty. you'll receive 100% of your deposited funds back immediately, no questions asked.

How are Bitgem fees applied and used?

No fees are applied for breaking a claim early. Each time you submit a mature claim however, a 0.2% fee is assessed on your deposited funds before it is returned to you. This fee is distributed to the larger community via Bitgem governance and project funding proposals. Anyone can file a proposal. Bitgem governance token holders then vote on proposals. Proposals that are accepted by governance are automatically funded.

This is awesome! Can I help somehow?

Yes! First off, come on over to our discord and join the fun. https://discord.gg/MkJbmkZc Then get in touch with us and let us know what skills you have and how you could help. We'll welcome you with open arms.