FAQs

Frequently Asked Questions (FAQ)

• What are sgTokens?

  • sgTokens are permissionless ERC20 smart contract-wrapped tokens that represent the equivalent locked token inside the Singularity contract

• Who can mint and burn sgTokens?

  • Only users who have completed KYB/KYC can mint or burn sgTokens.

• Where is my KYC/KYB data stored?

  • Your KYC/KYB data is stored with the third-party provider’s encrypted internal off-chain database. There is no link between your data & your on-chain wallet address, thereby protecting your on-chain anonymity.

• Who can hold sgTokens?

  • sgTokens can be held by anyone and traded on permissionless markets.

• Who receives staking rewards?

  • Reward points are distributed to holders of sgTokens. Once sold, the new holders receive subsequent rewards while the original holders retain their previously accrued rewards.

• Will wallet addresses be checked on-chain?

  • Yes, as part of the onboarding process, in addition to passing off-chain KYC/KYB, user wallets will go through on-chain analysis to ensure they are not on any sanctioned or blacklists.

• Where can I check that sgTokens are indeed backed 1:1 by a locked token?

  • See our contract: [LINK COMING]

• What is the value of sgTokens?

  • sgTokens are backed 1:1 by the locked token in the Singularity contract so sgTokens should be 1:1 against the underlying token. As holders of sgTokens also receive additional points, some users may value sgTokens at a slight premium to the underlying token.