Frequent Asked Questions

FOR A NEW PROTOCOL TO ACQUIRE LIQUIDITY, THE WAY IS USUALLY TO GIVE STRONG INCENTIVES BY REWARDING LIQUIDITY PROVIDERS WITH THEIR TOKEN. UNFORTUNATELY, THIS OFTEN LEADS TO THE TOKEN BEING DUMPED, HURTING BOTH THE STARTING PROJECT AND ITS COMMUNITY. SUCH LIQUIDITY IS ALSO VERY HARD TO RETAIN ONCE INCENTIVES DRY UP. THIS IS WHERE 101C STEPS UP, AND COMES FORWARD WITH A NEW SOLUTION, TO HELP FOSTER PROMISING PROTOCOLS AND PROVIDE THEM WITH IMMUTABLE LIQUIDITY. 101C AIMS TO FIX DEFI’S RENT-SEEKING PROBLEM.

A BLOCKCHAIN IS A LEDGER SECURELY REPLICATED ACROSS MANY MACHINES. BY DISTRIBUTING THE SAME LEDGER ACROSS HUNDREDS OR THOUSANDS OF MACHINES, BLOCKCHAINS ARE MORE RESILIENT TO DOWNTIME EVENTS LIKE POWER OUTAGES, HARDWARE FAULTS, NATURAL DISASTERS, AND GEOPOLITICAL CENSORSHIP. TO FORM CONSENSUS, THESE MACHINES REGULARLY COLLABORATE TO DETERMINE WHICH SETS OF NEW TRANSACTIONS (“BLOCKS”) ARE VALID. THESE BLOCKS OF TRANSACTIONS LINK TOGETHER TO FORM A BLOCKCHAIN.

THIS TECHNOLOGY ENABLES THE DEVELOPMENT OF PERMISSIONLESS DECENTRALIZED APPLICATIONS. IN OTHER WORDS, BLOCKCHAINS ALLOW THE CREATION OF A NEW KIND OF DIGITAL APPLICATION THAT DO NOT REQUIRE A CENTRAL COORDINATOR TO OPERATE. THINK ELECTRONIC MONEY WITHOUT CENTRAL BANKS, DIGITAL ASSET TRADING WITHOUT CENTRALLY-OPERATED STOCK EXCHANGES, OR SOCIAL NETWORK PLATFORMS WITHOUT CENTRAL ADMINISTRATORS.

YOU CAN USE 101C TO SEND AND RECEIVE PAYMENTS WITHOUT THE NEED FOR A BANK ACCOUNT. IT’S AVAILABLE IN EVERY COUNTRY, AND YOU CAN USE IT TO SEND AND RECEIVE CROSS-BORDER PAYMENTS ANYWHERE IN THE WORLD.

SINCE 101C TRANSACTIONS GO DIRECTLY BETWEEN YOU AND WHOEVER YOU’RE PAYING OR GETTING PAID BY, YOU DON’T NEED A BANK ACCOUNT TO OWN IT. INSTEAD, YOU JUST NEED AN ELECTRONIC WALLET. ONCE YOU HAVE A WALLET, YOU CAN GET 101C BY BUYING IT ON A CRYPTOCURRENCY EXCHANGE AND THEN SENDING IT TO YOUR WALLET. OTHER PEOPLE CAN ALSO SEND 101C TO YOUR WALLET.

101C IS A BEP-20 TOKEN (BSC)

THERE IS A “101C” TOKEN AVAILABLE ON THE BINANCE SMART CHAIN, WITH CONTRACT ADDRESS “0x2a5a373F094FA75d330A4b07d96c73C6156722c6”. USERS SHOULD RECOGNIZE THAT HOLDING THIS BEP-20 TOKEN, OR SIMILAR “101C” PRODUCTS, HAS CUSTODIAL RISK AS YOU HAVE TO TRUST THAT THE CUSTODIAN (IN THIS CASE BINANCE) WILL HOLD THE FULL RESERVES OF NATIVE 101C SAFELY. FOR THIS REASON, WE RECOMMEND THAT USERS HOLD THEIR COINS AS REAL NATIVE 101C, IN A WALLET WHERE THEY CONTROL THE KEYS.

TO HOLD NATIVE 101C YOURSELF, YOU CAN USE A SUPPORTING WALLET. WRITE DOWN THE “SEED PHRASE” FOR YOUR WALLET AND STORE THAT IN A SAFE PLACE. THIS IS USUALLY 12 WORDS. THE 12 WORDS CONTAIN ENOUGH INFORMATION TO RESTORE THE PRIVATE KEYS OF THE WALLET IN CASE YOU NEED TO RECOVER THEM IN THE FUTURE.

FOR GENERAL QUESTIONS ABOUT 101C, USER QUESTIONS, WALLET QUESTIONS, AND DEVELOPER QUESTIONS, PLEASE JOIN US ON THE SOCIAL MEDIA CHANNELS LINKED AT THE BOTTOM OF THIS PAGE. YOU CAN ALSO REACH US USING THE CONTACT US PAGE.