FAQ

General questions

  • What is Snax?What is Snax?112019-02-01 15:00

    Snax is a blockchain platform. It was created for people to receive rewards for their social activity (tweets, Instagram posts, and so on) and to make instant free micropayments without leaving their favorite social platform. Developers can use Snax blockchain to create decentralized social applications (social dApps).

    2019-02-01 15:00
  • What is SNAX token?What is SNAX token?112019-02-01 15:00

    SNAX token is a basic utility token of Snax blockchain. SNAX tokens provide Snax network operationing. Main cases of SNAX tokens using are:

    • Purchase of network's computational resources

    • Regular Publisher Rewards payments

    • Block Producers Rewards payments

    • Voting for Block Producers

    2019-02-01 15:00
  • What is Snax.One?What is Snax.One?112019-02-01 15:00

    Snax.One provides simple wallet interface for your Snax blockchain account and shows some data from Snax blockchain. Snax.One is a web3 application, running with browser extension. Snax.One is working locally on your computer, connecting directly to the Snax blockchain. It means, that Snax.One doesn't store any data related to your Snax blockchain account.

    2019-02-01 15:00
  • Does Snax conduct ICO?Does Snax conduct ICO?112019-02-01 15:00

    No, Snax didn't conduct ICO. Instead, Snax Foundation decided to issue 16% of all SNAX tokens at the launch to reserve part of tokens for platform support. The majority of this tokens is kept on the special escrow smart contract, which doesn’t allow us to use the budget uncontrollably.

    2019-02-01 15:00
  • What defines SNAX price?What defines SNAX price?112019-02-01 15:00

    SNAX is a utility token. That means you can send SNAX to any other user, and use computational resources of the Snax network by keeping SNAX tokens on your account. Noone doesn’t set or control SNAX price anyhow. Therefore we can’t guarantee that SNAX tokens will have a price eventually. Usually, the price of a crypto asset is defined on a free market, based on the activity of network users.

    2019-02-01 15:00
  • Beginning

  • Which social media does Snax support?Which social media does Snax support?112019-02-01 15:00

    At this time Snax supports only Twitter.

    2019-02-01 15:00
  • What do I need to begin?What do I need to begin?112019-02-01 15:00
    2019-02-01 15:00
  • Why do I need a digital wallet?Why do I need a digital wallet?112019-02-01 15:00

    You need a digital wallet to receive a reward for your social activity. Treat it like a bank account and protect your password and seed words*.

    At the same time, your wallet acts as your login. It lets us ensure that you (and no one instead of you) have the right to perform money-related operations with a corresponding account. It is like a digital sign, which is highly more secure than a traditional login.

    *Please note, that we can’t help you with resetting password as wallets are independent programs, and we don’t have access to it.

    2019-02-01 15:00
  • Can I use Snax on a mobile device?Can I use Snax on a mobile device?112019-02-01 15:00

    Not yet, but we hope mobile wallets will be created soon.

    2019-02-01 15:00
  • I rarely publish any content on social media, how can I use Snax?I rarely publish any content on social media, how can I use Snax?112019-02-01 15:00

    You can donate SNAX tokens to the publishers you want to support. They don’t have to be necessarily registered on Snax  — they can receive your transaction at any moment after they sign up into Snax.

    2019-02-01 15:00
  • How can I send SNAX to a friend?How can I send SNAX to a friend?112019-02-01 15:00

    You may send tokens to their social account name (see the full list of supported media here). Or you can transfer tokens directly to his/her Snax account, but in this case be sure that your friend is registered on Snax.

    2019-02-01 15:00
  • Why should I tweet / make a post to verify?Why should I tweet / make a post to verify?112019-02-01 15:00

    When you create an account, Snax stores this information in the blockchain. This operation consumes computational resources. To make the registration process free for you (to provide you with computational resources), Snax community wants to be sure that you are a real person. Your tweet is a proof of that.

    Also, verifying of your Twitter or Steem account is necessary for you to receive Regular Publisher Rewards.

    2019-02-01 15:00
  • How to receive the SNAX airdrop during the registration?How to receive the SNAX airdrop during the registration?112019-02-01 15:00

    You just need to bind your Twitter account and make a particular tweet. And that’s it! After special Snax oracle verify your tweet, tokens will be sent to your account.

    2019-02-01 15:00
  • Regular Publisher Rewards

  • Does Snax distribute tokens for free? For what?Does Snax distribute tokens for free? For what?112019-02-01 15:00

    Not for free, but for the popular content. That’s the way to attract more social influencers to Snax community. The more publishers are registered on Snax, the more helpful is Snax network for every user.

    2019-02-01 15:00
  • What do I need to do to receive Regular Publisher Rewards?What do I need to do to receive Regular Publisher Rewards?112019-02-01 15:00

    Keep creating content interesting to your subscribers. The more interactions your post causes (comments, likes, reposts, and so on), the more your Regular Publisher Reward is. Be sure to create an account on Snax and bind it with Twitter account to receive rewards.

    2019-02-01 15:00
  • What is Attention RateWhat is Attention Rate112019-02-01 15:00

    Attention Rate is a metric that being calculated for every post separately. It shows how much attention this post has received and can be calculated on the basis of interdependent factors:

    • quality of the audience of your social media account
    • amounts of interactions with the post (likes, comments, reposts)
    • quality of interactions with the post (who made a comment, and/or reposted)
    2019-02-01 15:00
  • How often does Snax update data and distribute rewards?How often does Snax update data and distribute rewards?112019-02-01 15:00

    This is called Scoring Round Time in Snax, and it depends on the social platform. For example, one Scoring Round for Twitter takes 2 days.

    2019-02-01 15:00
  • How does Snax calculate expected reward?How does Snax calculate expected reward?112019-02-01 15:00

    Every Scoring Round Snax distributes a limited amount of tokens to the users of supported social media (e.g. Twitter). The amount of tokens, which user will receive, depends on the Attention Rate of their content, and the total Attention Rate of all content published on the social network.

    For instance: Maximum amount of SNAX to be distributed as a reward for the last Scoring Round is 500 000 000. During that round, Karl made 3 tweets, which Attention Rate is 300, 700, 500 respectively. Total Attention Rate of all content published on Twitter for the same time is 1 500 000 000. Given this, Karl will receive:

    (300 + 500 + 700) / 1 500 000 000 * 500 000 000 SNAX = 500 SNAX

    2019-02-01 15:00
  • Which content does Snax take account of?Which content does Snax take account of?112019-02-01 15:00

    Snax takes account of any new post published in the last 7 days and interactions with it (likes, comments, reposts, etc.).

    2019-02-01 15:00
  • Why I can't find my account in Attention Rate table?Why I can't find my account in Attention Rate table?112019-02-01 15:00

    Usually it happen, if account you're trying to find, hadn't any significant activity in the last 7 days. Also it could happen if the account is new or inactive on Twitter, and Snax hasn't collected it yet.

    2019-02-01 15:00
  • How can I earn SNAX tokens?How can I earn SNAX tokens?112019-02-01 15:00

    There're 2 basic ways:

    • Keep creating content interesting for your subscribers. The more interactions your post causes (comments, likes, reposts, and so on), the more your Publisher Reward is.

    • Become a Block Producer. More information about Block Producers Rewards you can find in Snax whitepaper

    2019-02-01 15:00
  • Economics Questions

  • What is the transaction fee?What is the transaction fee?112019-02-01 15:00

    All transactions in Snax are free of charge. One user can create up to 100 direct transactions per day for free. If you need more transactions, you need to stake more SNAX tokens by yourself.

    2019-02-01 15:00
  • How much SNAX tokens will be issued?How much SNAX tokens will be issued?112019-02-01 15:00

    100'000'000'000 SNAX in the 1st stage of the supply emission and no more than 2'000'000'000 SNAX per a year after that (in the 2nd stage).

    2019-02-01 15:00
  • Technical Questions

  • Can I use only Snax.One wallet?Can I use only Snax.One wallet?112019-02-01 15:00

    Snax is an open-source blockchain system so that you can use any compatible wallet or even cli.

    2019-02-01 15:00
  • Why did my transaction fail?Why did my transaction fail?112019-02-01 15:00

    Probably you’ve exceeded your daily transaction limit (about 100 direct transactions per day by default). Another possible reason is that the network is overloaded. Try to wait for some time and repeat transaction later.

    2019-02-01 15:00
  • Can I cancel transaction on Snax?Can I cancel transaction on Snax?112019-02-01 15:00

    Snax is built on a decentralized public blockchain. Snax.One or any other party doesn’t have technical resources to change completed transactions. All transactions on Snax network are final and irreversible.

    2019-02-01 15:00
  • What consensus type is used in Snax blockchain?What consensus type is used in Snax blockchain?112019-02-01 15:00

    Snax uses DPoS consensus. Every block of Snax chain is validated by 21 Block Producers, which are elected by majority votes of SNAX tokens holders.

    2019-02-01 15:00
  • What is block time in Snax blockchain?What is block time in Snax blockchain?112019-02-01 15:00

    0.5 seconds per 1 block.

    2019-02-01 15:00
  • Help! My problem wasn’t addressed here. How do I contact the team?Help! My problem wasn’t addressed here. How do I contact the team?112019-02-01 15:00

    You can contact us at info@snax.one. Or check Snax Discord community channel.

    2019-02-01 15:00
snax.oneinfo@snax.one2019

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