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Frequently Asked Questions

General

What is Cardano?

Cardano is a blockchain platform that was built using the Proof-of- Stake consensus mechanism. Cardano is a cryptocurrency ecosystem that uses “ADA” as its native asset.

What is ADA?

ADA is the native cryptocurrency of the Cardano blockchain. It's main purpose is governance and transacting value.

What's Plutus?

Plutus is a smart contract platform on the Cardano blockchain.

What is an NFT?

NFT stands for non-fungible token. NFT's often represent ownership of a unique unit of data that could be represented in images, videos, or songs. It makes ownership and sales of digital assets possible in a non-replicated fashion. All of NFT's are logged and authenticated on the blockchain. You can hold and send NFT's in your CCvault, Yorai, Nami, and Deadalus wallet.

Token Rewards

How can I distribute my token project on the TapTools platform?

Thank you for considering TapTools for token distribution. To onboard your token for distribution, all you need to do is create an account and you can add a token directly from your account page. Feel free to reach out if you have any questions or issues in the onboarding process!

My address is staked, but the site says the address is not staked?

TapTools only recognizes addresses with an active stake in a pool. If you recently staked, the ADA may not be active in the pool yet. Please allow for a few epochs to pass. Once you start receiving ADA rewards, you will be qualified to withdraw tokens from TapTools.

Do I need to be staked to a specific pool?

No, you can be staked to any pool on the Cardano blockchain and receive tokens from TapTools.

Which pool do I need to be staked to?

You can stake to any pool on the Cardano blockchain and receive tokens through TapTools. Keep in mind, certain projects may reward certain pools more than others and delegate higher rewards.

Do I need to send ADA payment from the same address I am claiming tokens with?

Yes, the address that you provided during your claim must be the address you send ADA from to claim.

How often do I need to withdraw?

TapTools operates on the epoch calendar and timeline. Every 5 days at the end of each epoch rewards reset. If you want to claim the most rewards, you will need to claim every 5 days to withdraw that epoch's rewards.

How much does it cost to withdraw rewards?

You will only pay the Cardano network transaction fee. There will be no fee to TapTools.

Why don't my rewards roll over and accumulate from epoch to epoch?

Each Epoch the rewards reset and can only be claimed for that 5 day period. Each Epoch you can claim your token rewards but they will not rollover and accumulate.

Is there a fee to use TapTools?

No, we do not charge a fee to use TapTools. The only fee you will incur is the Cardano network transaction fee.

How many tokens can I withdraw per epoch?

There is a maximum of 10 token projects you can claim rewards from. If you claim 1 token, you will send 2 ADA to the provided address and receive back approximately 1.8 ADA. (The .2 ADA would be the Cardano network transaction fee.) If you claim more than 1 token, you will send 5 ADA to the provided address and will receive approximately 4.7 ADA.

Why send 5 ADA to receive 4.7 ADA from TapTools?

On the Cardano blockchain, native tokens must travel with ADA. This is the reason why you will pay X amount of ADA and receive most of it back.