4️⃣Product Redemption

Redemption is the process by which $EGOD holders redeem their acquired egomart NFTs for actual physical products.

  • Users purchase NFT products using egoUSD, the option of [Redeem & stake NFT Products] or [Redeem & withdraw product] pops up. If a user chooses [Redeem & stake]. We will proceed to ship to the address provided and the NFT product will be staked on the smart contract. Otherwise, if a users choose [Redeem & withdraw product] We’ll proceed to ship and the NFT will be sent automatically to the generated wallet address.

  • User initiates the redemption process by submitting a request including the locking of the ERC1155 to Egoras Foundation on the telegram frontend.

  • The request will be approved after Egoras Foundation confirms the locking of these acquired ERC1155 tokens in a smart contract.

  • The egoUSD tokens are then collected by the Egomart smart contract, and then transferred to the Egoras Foundation wallet designated for sales proceeds.

Note:

A fee will be estimated based on submitted location and weight of product and applied on redemptions to cover logistics.

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