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FAQs

If you do not see your question answered below, please contact us directly via Telegram.

Fees - where and how does the 1% get taken off and why?

It comes from the seller's end, once the purchase has been made, the seller will receive the full amount minus the 1% fee.

Browsing the TNFTs, decided to connect my wallet to buy a TNFT, but the "switch to FTM/BSC/BNB/ETH" isn't working. Why?

Typically this is the result of not being logged into your metamask or you have multiple sites open trying to connect to your metamask.

How do the pairings work of the tokens work?

Any token can be sold for any token so long as they are on the same network. In essence, any combination can be created for the buy and sell of altcoins. When viewing the pairings in the orderbook, the price on the left is the quoted token price and the price on the right is the base tokens which are loaded into the Token NFT for sale.

I have minted / listed / bought a TNFT, it says it is confirmed on network scanner why isn't it showing?

Networks at times can be congested or committing updates. Often the transaction will update on the scanner, but may take some time to reflect with our site. We try our best to keep the public notified if there appears to be any foreseen delays. Rest assured, it will show, keep refreshing. If it takes more than 20min, please contact us in our support TG channel.

I tried to mint / list / buy a TNFT, didn't seem to work, so I tried again, now metamask is charging really high gas fees and saying I have insufficient funds. What's happened?

Due to network congestion and updates, this unfortunately, will impact our site. Metamask is charging high gas fees and saying you have insufficient funds as it is recognizing you are trying to to take action with a TNFT which is in the midst of updating.

I listed a TNFT, but the amount displaying in the marketplace isn't what I chose to sell it for. Why?

Some tokens out there in the world of crypto have a taxation. This means any actions taken with this token impacts the price as the TAX has been removed from the token. Please check if your token has a TAX on it.

Why trade OTC as opposed to on an exchange?

OTC trading gives retail and institutional traders the opportunity to facilitate the buying and selling of assets in a way that mimics traditional face to face interactions. Traders uncomfortable entrusting funds to a centralized exchange can use OTC for a more intimate experience. Additionally, slippage and the price impact on the market of buying large quantities of assets can be avoided with OTC trades.

What is the purpose of the MFRM token?

MFRM token is the native token of OTCHouse. While currently not in place, our mid-term goal for MFRM is to function as a governance token wherein holders will be able to vote on improvement suggestions for the protocol like the increasing or decreasing of fees; the best usage of fee allocation; buy back and burns, or anything else the community comes up with. We believe the community is at the heart of what we are trying to do at OTCHouse and in-line with the ethos of De-Fi we hope to make our protocol as user-centric as possible where it makes sense to do so.

What if the market tanks while I am asleep and haven’t found a buyer?

Just like how exchanges have stop loss functions to protect your assets while you are away from the keyboard, OTCHouse has a function wherein you are able to set the sell price within a given range - that way, you don’t have to worry about major market fluctuations and can rest easy while your assets are safe-harbored. What future partnerships do you have in store? We work closely with BUSTA DEX and BUSTA games to support ecosystem development. At present, we have a couple of exciting partnerships in the works with major industry players to help provide an exciting array of experiences and features.

How is OTCHouse connected to ApeCoin?

OTCHouse was the first project to be incubated by APEcoin. APEcoin is our development token, bringing forward great projects with utility.

How is OTCHouse connected to BUSTA?

OTCHouse has formed a partnership with BUSTA DEX to further extend the range of utility that is offered and allow traders more options for the buying and selling of assets, and doing so in a way that avoids exorbitant fees of centralized exchanges while giving users much more versatility in fee rates, and inter-asset exchange.
See website for a breakdown of how fees are distributed. BUSTA DEX allows the trading of an ever-expanding list of coin pairs, so that traders have the full gamut of options at their fingertips when it comes to buying and selling assets. Perhaps apes can even blow off a little steam in the games room on BUSTA and still have room to spare from money saved on transaction fees that would have been levied should they have traded elsewhere.

What chains can I create Token NFTs on?

Currently, you are able to mint across four different chains; BNB chain; Ethereum; Polygon and Fantom.

Are Token NFTs fully-custodial?

Yes, through the power of blockchain and smart contract technology, our Token NFTs are fully collateralized and non-custodial assets, all verifiable via the applicable explorer.

What do I need to mint a Token NFT?

All you need is Metamask and a small amount of on-chain assets on one of the four provided networks and you are set.

Can sales be made private?

No. Because all provided blockchains are public blockchains, all transactions are made public and are publicly verifiable onchain.

How are fees paid?

At present, fees are deducted from the seller’s wallet at time of sale, via a smart contract that triggers once the sale has taken place.

Is there a minimum viable amount required to mint a token?

No. While it may not make sense to make a sale that is too small in value due to GAS considerations, technically speaking, any value within 18 decimal places can be put up for sale.

Is it possible to designate a specific interlocutor to initiate the sale of an asset?

At present, it is not possible, however we recognize this as a useful tool to be incorporated into the system and hope to implement this in the near-future.

How many asset pairs do you offer?

Upon mainnet launch we will have 40 official asset pairs from our strategic integration with Chainlink, as well as a host of others via alternate price feeds from CoinGecko. In theory, there is no upper limit to the amount of assets pairs that can be added to our site, so long as the token you are looking to trade with is listed on either of the provided solutions.

What other price feeds do you use?

With asset pairs outside of our main strategic Chainlink integration, price feeds are obtained via CoinGecko.

How do I value a Token NFT?

While we can’t tell you what to value your NFT at specifically, we recommend keeping an eye on the current market price and conditions on which to base a suitable judgment. Using the in-website chatbox, you can arrange a suitable amount with a potential seller based on an amount you are personally comfortable with.

What are my tax obligations of a Token NFT sale?

Because we are an open source, non-custodial entity, we can only advise you to research tax obligations within your current jurisdiction and make financial decisions based on this.

How secure is the OTCHouse?

Security of our protocol is of the utmost importance to us. We recognize the complexity of the system, the difficulties in deploying issue-free software, and the responsibility of maintaining a value-bearing protocol. Therefore, we are making a considerable efforts to ensure the system will be reviewed by top security firms and heavily scrutinized line by line internally.
This Protocol is audited by RD Auditors consulting. You can find the reports from those audits on our Security page. OTCHouse contracts repo has 100% line and branch coverage over the span of hundreds of units, integration and simulation tests.