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Welcome to R Planet

FAQ

Why are you using the Ethereum blockchain, and what type of token are you using
We are using the ERC721 token standard for our Genesis NFT collection. We believe that the Ethereum blockchain provides a number of benefits over other blockchains and L2 solutions, such as:
Robust market adoption, proven stability and strong reputation
Higher market opportunity and liquidity ($ETH is the second largest cryptocurrency)
Market standard as over 90% of NFTs transactions occur in the Ethereum network
The PoS chain is more secure, significantly less energy-intensive, and better for implementing new scaling solutions
How secure are your smart contracts
Security is a number one priority for us as a team, and we have taken a number of steps to keep our community as safe as possible by focusing on the following:
Security audit: We have engaged a third-party auditor a market leader in the blockchain security ecosystem, to perform a full audit of our smart contract for assurance of our holders.
The security audit consisted of a two-phased audit (1) Initial assessment and testing of surface security vulnerabilities and suggested remedies (2) Final assessment of final commit hash and review of all security recommendations. Some following were items included in the smart contract audit:
1) Security and vulnerability testing;
2) Manual review of logic errors;
3) Cody style, refactoring
We will continue to provide our community with content and best practices on how to engage on social channels, internal and external parties and how to keep your NFT secure from scams and other types of social engineering from malicious actors.
What is gas, and who pays gas fees
Gas, in this context, is the transaction cost for using the Ethereum blockchain. Every time a transaction is processed a small gas fee is charged to record the changes on the blockchain. Buyers are responsible for paying gas fees at the time of mint. If you want to learn more about gas, see this great on how gas fees work.
Secondary Market
At any point in time after mint you can sell/trade your NFT on Opensea and CoinbaseNFT. We will continue to expand and accelerate into additional marketplaces when the opportunity arises.
R Labs will receive 5% of all secondary sales for transactions listed on Opensea. These proceeds will be used to continue to hire more talent and advisors, fund operations and deliver even more value to our community.
Image Hosting
The images and metadata of the NFTs will be stored on a cloud database (amazon S3 bucket) We will also store the metadata on our database for the app, when the users choose to update their NFT, we will keep track of this update in our database and update the metadata in the cloud storage (therefore changing the NFTs appearance/metadata) periodically.
Disclaimer
R Planet and R Labs are not a registered broker, analyst or financial advisor. None of the information shared within the Discord server or official R Planet website or social accounts should be taken as financial or investment advice. Please note that within the NFT space there are always risks. Anything shared within our server (including links to external websites) may have associated risks you should always take into consideration.
By purchasing an R Planet NFT you are not buying a security or investment. The R Planet and R Labs team shall not be held liable for any losses, mistakes, or taxes you may incur as a result of such purchase. The NFT space is evolving quickly and can be filled with bad actors.
“DYOR” Do. Your. Own. Research. Please ensure you are always doing your own due diligence within this space and working with your financial advisor before making any financial decisions.

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