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FAQ

Blockchain is a technology that features a continuous list of blocks of information on a live network of computers. Each block contains a number of transactions that when filled, are closed and linked to the previously filled block. Blockchains are decentralized, and for that it is very difficult for someone to modify the record of events stored in this “chain”, making it a suitable technology for financial applications.

Ethereum is a crypto network, it has been adopted by numerous projects from all over the world. It is the largest network that hosts dapps. It is also where most developer activity happens in the crypto space. Ethereum is particularly interesting because of its security and ability to host smart contracts.

Gas is the fee that is required to run computational resources to successfully execute a transaction on Ethereum. This fee is based on the current ‘gas price’ and is calculated in terms of ETH.

A Wallet is a software that can hold cryptocurrencies by storing their private keys, which are used in cooperation with the appropriate public keys. There are many kinds of wallets available, which can be categorised as: mobile, hardware, desktop and web wallets.

Smart Contract is basically a contract that executes itself, which means they are not controlled by a user, but instead, are run independently on the network with some predetermined “terms of agreement”.

DEV Token is the utility token that powers the Dev Protocol ecosystem. By staking DEV tokens Patrons can fund Creators in a sustainable way: both of them receive rewards, it is not a one way transaction. This way, Creators can grow while empowering their communi

dApps are short for Decentralised Applications, and are software applications built on top of Smart Contracts. They are different from regular apps in a way that they are not connected to private, centralised servers, and for that, are more transparent over how its back-end works.

The best way to buy the Dev Token is the most liquid pair. You can find them on the trading pairs listed on Coingecko. The best pair to trade DEV/ETH currently is on Uniswap V2

Staking is the process of locking up funds in smart contracts as a way to benefit the network that it is being staked on, and being rewarded for it. These rewards can be seen as some sort of interest that accumulates over time.

Staking using the DEV Tokens means that Patrons are depositing the DEV Tokens in a smart contract of the respective Creator the patron wants to sustainably fund. By doing that both the Patron and the Creator get rewarded with DEV Tokens.

The Annual Percentage Yield - APY- represents the financial gain, in terms of one determined token, as a percentage in one year. An individual will receive an APY when they stake their funds in an instrument such as a staking pool, or liquidity pool, for example. The idea behind APY is to convey the true gains of an investment in annual terms, since we’re using Dev Protocol, staking is linear, and doesn’t account for the compound ‘interest’ in the case of re-staking.

cobogo is a dApp, built on top of the Dev Protocol Ecosystem that allows fans to support their favorite YouTubers in a sustainable way. They can stake their DEV Tokens on the Youtuber’s pool, and both of them receive the rewards. cobogo allows Creators to monetize their channel in a different way, without relying solely on Ads or one-off donations, and it allows fans to support these Creators while still earning money.