In order to ensure the rights of users to earn in the most convenient way and more time for the anti-hacking system after listing RUNGEM, Runnow.io announced that users would be able to withdraw rewards both in BUSD and RUNGEM. With the R-Swap feature, users can swap between RUNGEM and BUSD right in the Runnow.io app.
Time application: August 19th, 2022 – September 19th, 2022 (Until further announcement)
- This mechanism helps users save a significant amount of gas fees. Normally, users have to withdraw RUNGEM, then swap RUNGEM on a DEX platform and pay gas fees twice. Now, users only pay once when withdrawing BUSD directly from the Runnow.io app.
- Besides, this also helps Runnow.io to easily maintain stability for the value of RUNGEM token equal to 3 BUSD. Users will not have to worry about traders creating an unstable “pump-dump” situation. Once RUNGEM is stable, users can completely focus on strategies to optimize the NFT Sneaker’s index without worrying too much about RUNGEM token price risks.
- Besides, this can be seen as one of the mechanisms to help prevent the inflation of RUNGEM tokens. This mechanism also helps limit the impact of technology hacking problems. Because hacking BUSD in Runnow app is impossible compared to hacking RUNGEM tokens.
How to withdraw BUSD/RUNGEM from Runnow.io app?
Step 1: User deposits BUSD/RUNGEM into the app
Step 2: Users can swap BUSD to RUNGEM or vice versa right in the app (5% swap fee), depending on the user’s purpose. 1 RUNGEM equals 3 BUSD
Step 3: Users use RUNGEM to perform activities such as mint, upgrade level NFT Sneaker.
Step 4: Users join modes to earn RUNGEM tokens.
Step 5: Withdraw
- Opt 1: Withdraw RUNGEM to Metamask wallet. Users are charged a 5% withdraw fee. This fee only applies to Withdraw RUNGEM, not to Withdraw BUSD.
- Opt 2: Swap RUNGEM to BUSD. Users are subject to a 5% Swap fee. This fee only applies to swap RUNGEM to BUSD. User can then withdraw BUSD to the Metamask wallet at no extra cost.
Step 6: Claim from Marketplace. Users need a little BNB for gas fee.
Withdrawal Limits Mechanism
To withdraw BUSD or RUNGEM, the user’s withdrawal transaction must reach the minimum number and must not exceed the maximum number specified by Runnow.io. This mechanism helps to protect the benefits of users against hacking.
- Minimum RUNGEM user can withdraw per day: 50
- Maximum RUNGEM user can withdraw per day: 300
- Minimum BUSD user can withdraw per day: 150
- Maximum RUNGEM user can withdraw per day: 900
Daily Pool Mechanism
The total amount of RUNGEM and BUSD that can be withdrawn daily from the Runnow.io app is limited by the Daily Pool mechanism. When the number of tokens exceeds the Daily Pool, all users cannot withdraw and must wait until 12PM UTC.
This mechanism is a shield that helps prevent the consequences of technology hacks. In the event of a security problem, the hacker cannot withdraw large amounts of RUNGEM tokens out of the Runnow.io app. This gives the Runnow.io team more time to detect and prevent damage.
The daily pool limit will be announced in the Withdraw section of the Runnow.io app. Users can easily see the remaining amount of RUNGEM and BUSD tokens withdrawn during the day. Daily Pool will be changed daily.
Special Note: BUSD swapped between 0AM and 23:59PM today can only be withdrawn at 0AM the next day.
You will be able to withdraw the full amount you have before 00:00UTC today with the following conditions:
- In the wallet with BNB as Gas Fee (cost from BNB Chain, the cost can increase or decrease depending on the time of the network)
- Total withdraw eligible for Min 50 Rungem (150 $BUSD) – Max 150 Rungem ($900 BUSD)
- Daily Pool of the system with BUSD or Rungem (shown in the app)
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