FAQ
What is Ignite DAO?
Ignite DAO is a legal DAO (Decentralized Autonomous Organization) registered in the Netherlands. Ignite DAO is also a Staked Seed Node operator inside the Zilliqa ecosystem.
What does Ignite DAO do?
Ignite DAO builds products and dApps on the Zilliqa Blockchain and runs a Staking seed node which allows the community to stake ZIL with us.
What is a Torch wallet?
Torch is a smart wallet from Ignite DAO. It allows users to do the following:
- Automated Zil staking
- Instant Unbonding
- Dex token swaps
- Limit orders on Dex
How does Torch exactly work?
As Torch is a smart contract itself we are connecting and automating interaction with other valuable smart contracts (non custodial staking, other DeFi dApps and protocols, various DEXs and NFT marketplaces for example) to make sure that you can immerse yourself in the ecosystem of one of the most future proof smart contract platforms, Zilliqa, without the technological barriers or hindrances and still non custodial.
And while we are thankful for wallets such as Atomic, Moonlet, Zilpay, Zillet for offering a visual interface to send Zillings, tokens and support staking they will always remain limited in their functionality and business model as their core functionality isn't built upon smart contracts.
How is Torch wallet different from already available wallets, for example Moonlet or Zilpay?
Torch is a smart contract wallet which opens up the possibility to connect the Zilliqa ecosystem into one mobile application. The Zilliqa ecosystem at your fingertips.
The first set of features we offer are:
- Automated ZIL Staking
- Instant Unbonding
- DEX Limit orders
What is learnblockchain.org?
Learnblockchain.org is a decentralized educational platform that empowers community members to educate people about blockchain technology
Where can I find a roadmap for Ignite DAO?
Currently Ignite does not have a roadmap. We will be creating a roadmap at a later stage to share with the community.
How does Ignite DAO compare & different from other SSN (Staking seed nodes)?
Ignite DAO actively uses all its staking rewards to fund development inside the Zilliqa ecosystem. Arguably right now no other SSN is doing this.
What kind of ideas/dapps/projects will Ignite invest in?
Applications that are within the DeFi and Social Economy domain.
Does my $zil leave my wallet when I stake?
Yes, your ZIL leaves your wallet and is deposited into an audited staking smart contract created by ZIlliqa Research.
How long is the unbonding period?
The unbonding period lasts about 13 days.
What does APY and APR stand for?
APY stands for Annual Percentage Yield. APR stands for Annual Percentage Rate.