Prize Winners

I just received a prize, what should I do?

Congratulations on the good ranking! 🎉

Your prize will be transferred to your Solana wallet, which is managed by Privy.io, our authentication provider. You are the only one who can access it, and CrunchDAO will cover all transfer fees when you need to move your prize elsewhere.

All transactions are now processed through the Solana network. This is a significant change because wallets are incompatible with the Ethereum network. We had to leave Ethereum due to its high barriers to entry and high fees.

You will also receive an email with instructions for completing the KYC process, which is necessary in order to receive the funds. This helps us combat individuals with multiple accounts who attempt to exploit our system.

Ethereum Competitions

To ensure that users who prepared in advance did not do so in vain, competitions that began before our migration to Solana will still be paid on the Ethereum network.

To receive a prize, specify your wallet on your account page. This wallet must be personal and able to receive USDC on the Ethereum network. All transactions will happen onchain.

Once everyone has completed the KYC process, we will send a 1 USDC test transaction. Then, we will email you to ask if you received it. The email will also contain a waiver in which you agree that, once we send the full amount, we are no longer responsible for it.

CrunchDAO uses Privy.io to offer its users a ready-to-use wallet where they can receive and later transfer or cash out prizes.

We are leaving Ethereum. Users should not put their wallets there if they only expect to receive prizes for new competitions.

Managed Wallets

CrunchDAO uses Privy.io to provide users with a wallet that is ready to use. Users can receive prizes in their wallet and transfer them out later when they are ready.

You manage this wallet via the Hub, where you can:

• Check your current balance and transfer tokens elsewhere.

• View your transaction history. This logs all your interactions with real-time competitions.

• Export the private key. The first time you do it, you will receive an email indicating that the wallet is now considered unsafe. If you did not take this action, please contact us as soon as possible!

To secure this wallet, we strongly suggest that you enable 2FA on your account.

This step is necessary for exporting the private key.

Self-custodial Wallets

Due to their simplicity, we recommend using Phantom (Any) or MetaMask (Ethereum only).

Make sure you store the seed phrase in a safe place.

Take every precaution to ensure that you are the sole owner of the wallet.

Whether you receive the test or the full amount as your prize, you'll need a small amount of currency to cover the transfer fees.

Although you can transfer it to your Exchange account, there is an easier method. See below for details.

Centralized Exchange Wallets

To withdraw funds more quickly into a fiat currency, select the correct network and click the Receive USDC button on your exchange. This will ensure the funds appear directly in your account, so you won't need to cover the transfer fees.

Make absolutely sure that you can convert the 1 UDSC test back to fiat, as some exchanges have a minimum amount policy (e.g., Kraken).

Once we send the full amount, you are responsible for the tokens.

If your exchange asks you about the origin of the tokens, tell them the following:

• Company Name: Crunch Lab, Inc.

• Exchange Name: Bitstamp.

If they request more information, don't hesitate to contact us.

Why cryptocurrencies?

To eliminate the need for international transfers, all prizes are paid in cryptocurrencies.

This rule will not be waived under any circumstances, including requests for a bank transfer or equivalent.

This also ensures that transactions can be traced on the blockchain.

Network fees are determined by the currency network itself and are therefore outside of our control.

For Ethereum, we recommend keeping a small amount of ETH in your wallet so that you can transfer your prizes at any time.

Be on alert for Scams!

To keep your assets safe, always verify the source of any communication that claims to represent us. Verify email addresses and social media profiles. Remember that we will never ask for your private keys or passwords.

There is a 100% chance that the following is a scam:

• If you need to complete any KYC procedures or validation for your wallet! That is a scam!

• If you need to have any minimal amount to receive our prize. That is a scam!

• If we promise an airdrop in private/direct messages. That is a scam!

If you have any doubts, contact us directly!