FAQ
Q: What is M-Token?
A: In a sense, M-Token is the voucher for your pledged assets. It requires manual confirmation to claim (this confirmation does not require gas and is completely free).
PS: You don't necessarily have to claim your M-Token; it's not mandatory.
Q: Risks of claiming M-Token
A:
Accidentally authorizing malicious contracts may lead to M-Token theft, resulting in the loss of assets pledged at Layer 1, which cannot be recovered. (If you don't enable M-Token, the pledge won't appear in your Layer 2 wallet and won't be stolen by smart contracts.)
You may sell off your precious assets due to lack of self-control.
Q: Benefits of enabling M-Token
A:
You can use M-Token to start trading and withdraw as BTC at Layer 2.
You can engage in various DeFi activities such as lending, staking, and participating in upcoming Dapps at Layer 2 using M-Token.
Q: If I claim my M-Token, can I still retrieve my pledged assets?
A: As long as you hold your M-Token, you can retrieve your pledged assets when Merlin's Seal ends.
Q: If I sell/move/lose my M-Token, will my M-points still increase every day?
A: Yes, it do continue to increase until the end of Merlin's Seal, but you cannot retrieve the pledged assets.
Q: What is the price of M-Token?
A: The price of M-Token will be determined by the market. Nobody will sell their M-BTC for 0.5 BTC, right?
Q: Is there a Metamask link to claim M-Token?
A: Not yet, please stay tuned for official announcements for further updates.
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