A: 'OTC' stands for 'over the counter'. Historically, it has meant a trade directly between 2 parties (off exchange). Large hedge funds and VC firms typically trade locked tokens directly with each other via OTC, and now this is your chance to get a piece of the pie.
Q: Why did you build dfk.market?
A: After the overwhelming success of DeFi Kingdoms, it became clear that players were earning generational wealth in locked JEWEL tokens and needed a place to trade JEWEL.
As JEWEL has a specific lockup mechanism, it is unable to be traded through a regular AMM such as Uniswap or Sushiswap.
Unfortunately this pushed the community into using manual escrow via Discord chats, which is inefficient (’WTB’ and ‘WTS’ talking past each other), highly manual, as well as a hotbed for scammers pretending to be a trustworthy escrow service.
A trusted and automated solution was needed - enter dfk.market!
A: Fees are set to 2.5% of the transaction amount, with a max fee of $25,000. The fee will be automatically deducted from seller's final amount. This is the same price that manual escrow agents typically charge in Discord. Our goal is not to make money, rather to cover devtime expenses, and showcase our talent as we progress towards building a larger and better defi OTC experience via size.market.
Q: Is this code audited?
A: No. This code was productionized in < 48 hours. While we’ve taken all precautions to attempt to make the code safe, expect the usual nonzero risk associated with un-audited / un-battle tested code.
Q: Do you have a Discord / Telegram / support?
A: Yes! You can join our Discord here. We also have a Telegram announcement channel here that notifies on new offers and completed trades.
Q: Can we trade items or assets other than JEWEL?
A: At this stage no. We may add additional features if enough demand.
Q: Why does the block explorer show 0 JEWEL transferred on a sale?
A: Transferring locked JEWEL is different from a typical token transfer, so the block explorer does not display it correctly.
Q: Can I cancel my offer and withdraw my JEWEL at any time?
Q: What is Locked $JEWEL?
A: Locked tokens remain locked until the end of Epoch 51 (estimated to be in Q3 2022 depending on Harmony block speeds) at which point such locked $JEWEL will begin to unlock ratably over the next year (fully unlocking in Q3 2023 depending on Harmony block speeds).