# Welcome to Bit5
Digital Asset Market: By the community, for the community
## Overview
Welcome to the Bit5 marketplace, a platform where you can explore a diverse array of art, gaming items, and other non-fungible tokens (NFTs). Discover the creations of renowned artists, the rarest gaming collectibles, and a variety of valuable NFTs. With Bit5, you can trust that you'll find exactly what you're seeking.
# What We Do
At our NFT marketplace, we are dedicated to connecting buyers and sellers of distinctive digital assets, including art, collectibles, and gaming items. We feature a broad selection of non-fungible tokens, ranging from emerging artists to established industry figures. Utilizing the latest blockchain technology, we guarantee the authenticity and rarity of each item. Our mission is to provide an effortless, accessible, and secure platform where everyone can buy, sell, and trade NFTs.
# Our Features
Our NFT marketplace provides a variety of features designed to enhance your buying and selling experience. These include:
* Special deals on select collections.
* Tailored solutions for Dynamic NFTs.
* Secure and transparent transactions powered by blockchain technology, ensuring the authenticity and rarity of each item.
* NFT and token minting platform.
* Borrowing and Lending services to unlock liquidity or earn interest.
* An easy-to-use, user-friendly platform that enables quick and efficient buying, selling, and trading of NFTs.
* A thriving community of buyers and sellers to connect with, share information, and stay updated on marketplace news.
* Advanced search and filter options to help you find the specific items you're seeking.
* A team of experts available to answer any questions and assist with any issues.
# Get Started
# Create a Wallet
To conduct NFT transactions on Bit5, you'll first need a crypto wallet that supports Ethereum and BNB Smart Chain. Download the browser extension for the crypto wallet of your choice and follow the necessary installation steps.
Below, you'll find a list of the most popular wallets, along with their download links and setup guides:
**Metamask:**
[Download Metamask](https://metamask.io/download/)
[Metamask Setup Guide](https://academy.binance.com/en/articles/connecting-metamask-to-binance-smart-chain)
**Trust Wallet:**
[Download Trust Wallet](https://trustwallet.com/)
[Trust Wallet Setup Guide](https://www.binance.com/en/blog/ecosystem/how-to-set-up-and-use-trust-wallet-for-bnb-smart-chain-421499824684901157)
**SafePal:**
[Download Safepal](https://www.safepal.com/download)
[SafePal Setup Guide](https://blog.safepal.com/binance-smart-chain-x-safepal/)
**Coinbase Wallet:**
[Download Coinbase Wallet](https://chrome.google.com/webstore/detail/coinbase-wallet-extension/hnfanknocfeofbddgcijnmhnfnkdnaad?shortlink=fdb9b250\&c=wa_i_m_n_i_m_wal_coi_0_Wallet-LP-Single-Button\&pid=Wallet%20LP\&source_caller=ui)
[Coinbase Wallet Setup Guide](https://www.coinbase.com/tr/wallet/articles/getting-started-mobile)
# Connect Your Wallet to Bit5
When the wallet is first created, it comes with the Ethereum network. In Bit5, in addition to the Ethereum chain network, many transactions are carried out with BNB, so after creating your wallet, be sure to add the BNB smart chain network to your wallet.
Let’s add it. Access **Settings** to point the wallet towards Binance Smart Chain nodes.
On the Settings page, navigate to the Networks menu.
Click **Add Network** in the top-right corner to **manually add Binance Smart Chain** **Mainnet**.
Enter the following information in the blanks;
**Network Name:** Binance Smart Chain
**New RPC URL:**
**ChainID:** 56
**Symbol:** BNB
**Block Explorer URL:** [https://bscscan.com](https://bscscan.com/)
Save it. Now, your wallet is ready to use for your NFT transactions on Bit5.
Switch your network to Binance Smart Chain network from Ethererum network
Now you can connect your wallet to Bit5 just clicking to wallet sign on the Bit5 main page.
# Marketplace
# Buying an NFT on Bit5
There are two ways to buy an NFT on Bit5. You can purchase an item listed for sale by paying the asking price.
Alternatively, you can place a bid on items. If the NFT owner accepts your bid, the transfer will take place. You can place bids on items whether they are listed for sale or not.
# Selling an NFT at Bit5
To sell your NFT you can set a price and put it on the market or if there any bid for your NFT, you can accept the bid. After you accept the bid, transfer takes place.
# NFT Rarity Calculation
There are 4 known rarity calculation methods:
* Trait Rarity Ranking
* Average Trait Rarity
* Statistical Rarity
* Rarity Score
We are using the Rarity Score method, which is used by `rarity.tools`.
In this method an attribute’s rarity score is calculated by this formula:
`11 / ([Number of Items with that Trait Value] / [Total Number of Items in Collection])`
So, we are calculating all attribute rarity scores with this method and sum all of them to find the item rarity scores.
# Royalties
There are two ways of distributing fees in Bit5. One way is Payment Splitter and the other one is EIP-2981.
#### Payment Splitter
Before inspecting the diagram, you should know some things about the payment splitter.
A payment splitter is a way to split the coming royalty fees between accounts. NFT contract owners can set fees for their NFTs. For example, let’s say we have a collection with this royalty information:
* Address A - 5%
* Address B - 2%
* Address C - 1%
And assume there is a buy operation with 100 BNB. Now, the fee is split to 3 accounts:
* Address A gets 5 BNB
* Address B gets 2 BNB
* Address C gets 1 BNB
* Service fee 2 BNB (2%)
* NFT owner gets 90 BNB
Only the NFT owner can add and delete royalties. The NFT contract MUST not have the EIP-2981 for using Payment Splitter (this is used for preventing double fees).
There will be a maximum fee percentage to protect users.
#### EIP-2981
EIP-2981 is a standard for NFT royalties: [EIP-2981: NFT Royalty Standard](https://eips.ethereum.org/EIPS/eip-2981)
There is a function in this standard named `royaltyInfo(uint256 _tokenId, uint256 _salePrice)`. We are asking for the royalty amount by sending the sale price and the token id. After receiving the `receiver` and `royaltyAmount` we’ll be sending the fees.
The fee calculation is the same as above. With one difference, EIP-2981 only approves one receiver for one token.
**Fees**
Bit5 charges a 2% fee on items sold. For a limited time, our fees will be 0% so that you can enjoy the lowest fees on BNBChain.
# Fee Calculation and Limits
The fees applied in the system are not limited and may exceed 100%. It is important to document and inform users about the fee amounts and limits to avoid transaction failures and unexpected outcomes.
Scenario 1: Standard Fee and Royalty Fee (Non-Privileged Collection)
Standard Service Fee: 2%
Royalty Fee: 5%
Treasury Percentage: 0
Example:
User buys an NFT for 100 tokens.
Standard Service Fee (2%) is deducted: 100 - 2 = 98 tokens.
Royalty Fee (5%) is deducted: 98 - 5 = 93 tokens sent to the seller.
The contract has 2 tokens remaining from the operation.
Scenario 2: Standard Fee, Royalty Fee, and Treasury Fee (Non-Privileged Collection)
Standard Service Fee: 2%
Royalty Fee: 5%
Treasury Percentage: 30,000
Example:
User buys an NFT for 100 tokens.
Standard Service Fee (2%) is deducted: 100 - 2 = 98 tokens.
Royalty Fee (5%) is deducted: 98 - 5 = 93 tokens sent to the seller.
Treasury Fee is calculated: 30,000 \* 2 / 10,000 = 6 tokens.
After sending tokens to the treasury, the contract has 89 tokens remaining.
The transaction is reverted due to insufficient balance in the contract.
Scenario 3: Standard Fee, Royalty Fee, Treasury Fee, and Privileged Collection
Standard Service Fee: 2%
Royalty Fee: 5%
Treasury Percentage: 30,000
Privileged Collection Value: 30,000
Example:
User buys an NFT for 100 tokens.
Standard Service Fee (2%) is deducted: 100 - 2 = 98 tokens.
Royalty Fee (5%) is deducted: 98 - 5 = 93 tokens sent to the seller.
Treasury Fee is calculated: 30,000 \* 2 / 10,000 = 60 tokens.
After sending tokens to the treasury, the contract has 89 tokens remaining.
The new Fee is calculated: 200 \* 30,000 / 10,000 = 600 tokens.
Privileged Service Fee is 6 tokens.
Treasury Fee Percentage is calculated: 30,000 \* 600 / 10,000 = 1,800 tokens.
18 tokens are sent to the treasury, and the contract balance is reduced to 77 tokens.
The transaction is reverted due to insufficient balance in the contract.
It is recommended to limit the maximum fees paid during transfers and document them clearly. It is also important to thoroughly check the fee calculations to prevent transaction failures and ensure a proper balance of funds.
# Service fee discount with privilege collections
When you sell on Bit5, if you own at least one NFT from the privilidge collections, you get a discount on the service fee and only 1% service fee is charged.
Currently in Bit5, MoonPet and Pancake Squad collections are privilidge collections. This means that if you have at least one of these collections, you will get a discount on the service fee during the sale.
**FAQ**
**Q: If at the time of listing any NFT, I don't own any NFTs from privileged collections and later I own an NFT from privileged collections, will I get a discount on the service fee for owning a privilidge NFT at the time of sale?**
**A:** Yes. If you have at least one privilidge NFT at the time of the sale, you will receive a discount on the service fee.
**Q: If I own a privilidge NFT at the time I list an NFT for sale, but then I lose ownership of all privilidge NFTs before the sale of the NFT takes place, and then the sale of the NFT takes place, do I get a discount on the service fee?**
**A:** To take advantage of the service fee discount, you must keep the "PrivilegeTokenID" value (Privilege NFT) at the time of signing the sale.
**Q: Do I get a discount on the service fee with a privilidge NFT that I staked?**
**A:** No. If you have staked all the privilidge NFTs you hold and you do not have at least one privilidge NFT that you have not staked at the time of sale, you will not get a discount on the service fee.
# Pausable
The Pausable library is a fundamental feature of our contract and is used in our NFT marketplace, Treasury, and NFT Lending platform smart contracts. This library enables the temporary suspension and resumption of our functions. In cases of emergencies or security measures, it may be necessary to pause the contract and suspend interactions. In such cases, the Pausable library can be utilized to temporarily halt the contract and later reactivate it.
The Pausable library provides a mechanism that enhances the flexibility and security of our smart contracts. It also offers better control over the assets and transactions of our users. Technically, the library utilizes a special node to perform the pausing and resuming operations, temporarily suspending or reactivating the contract's functions through this node.
By enabling quick and secure response to emergencies, the Pausable library provides our users with a safer and smoother experience. More detailed information on how to use and the functionality of the Pausable library can be found in the technical documentation of our contract.
# Global Transactions
Global BID (Bit5) and bid (Bit5Lending) functions allow our valued users to transfer any NFT from their collection to the issuer. We understand the importance of providing transparency and clarity on our platform. This can cause users to be unaware of this feature and potentially receive unexpected tokens.
To address this, we are committed to providing comprehensive information and documentation to our users. By doing this, we aim to give our users a clear understanding of how these functions work and prevent unexpected token transfers. We value the trust our users place in us and we strive to give them the best possible experience.
```
acceptGlobalOffer() Function:
solidity
Copy code
function acceptGlobalOffer(
Order memory order,
bytes memory signature,
uint256 tokenId
)
external
isOrderValid(order, signature, OrderStatus.NOT_PROCESSED)
whenNotPaused
nonReentrant
{
if (!order.isGlobal) {
revert OfferIsNotGlobal();
}
uint256[] memory tokenIds = new uint256[](1);
tokenIds[0] = tokenId;
order.colleteralTokenIDs = tokenIds;
_processOrder(order, signature);
globalOfferTokenIds[signature] = tokenId;
}
acceptGlobalBid() Function:
solidity
Copy code
function acceptGlobalBid(
Order memory order,
bytes memory signature,
uint256[] memory tokenIds
)
public
whenNotPaused
nonReentrant
isOrderValid(order, signature)
{
if (msg.sender == order.issuer) {
revert CanNotBuyOwnedToken();
}
if (
order.globalBidAmount - processedGlobalBids[signature] <
tokenIds.length
) {
revert NotEnoughGlobalBids();
}
for (uint256 i; i < tokenIds.length; i++) {
order.tokenId = tokenIds[i];
processedGlobalBids[signature] += 1;
_acceptBid(order, signature);
}
}
acceptGlobalBidAsOwner() Function:
solidity
Copy code
function acceptGlobalBidAsOwner(
Order memory order,
bytes memory signature,
uint256[] memory tokenIds,
address _nftOwner
)
public
whenNotPaused
nonReentrant
onlyOwner
isOrderValid(order, signature)
{
if (msg.sender == order.issuer) {
revert CanNotBuyOwnedToken();
}
if (
order.globalBidAmount - processedGlobalBids[signature] <
tokenIds.length
) {
revert NotEnoughGlobalBids();
}
for (uint256 i; i < tokenIds.length; i++) {
order.tokenId = tokenIds[i];
processedGlobalBids[signature] += 1;
_acceptGlobalBidAsOwner(order, signature, _nftOwner);
}
}
```
# Accept Global Bid As Owner
**'acceptGlobalBidAsOwner' Function Security Description**
**Function Purpose**
The acceptGlobalBidAsOwner function is a function used to accept a BID approved by the owner of the NFT and transfer the NFT to the person making the BID. This function works safely by applying the following security measures:
Security precautions
1. Verification Processes The acceptGlobalBidAsOwner function performs some validation to ensure the correctness of the transaction. These validations are: isOrderValid(order, signature): The function uses the isOrderValid function to verify the validity of the BID. This function verifies that the BID's signature is correct and that the \_nftOwner address actually represents the BID it has endorsed.
2. Authority Control The acceptGlobalBidAsOwner function can only be called by the owner of the contract (controlled by the onlyOwner token). This ensures that the function is protected against unauthorized access.
3. One Time Transaction Guarantee The function is controlled with the nonReentrant token, protecting it from retry attacks. This prevents the function from being called more than once at the same time.
4. Pausable The function has the ability to be stopped by checking it with the whenNotPaused token. In this way, the use of the function can be stopped in cases determined by the contract owner.
# Bit5 as a Launchpad
Bit5 also serves as a launchpad for bringing NFT projects to life. We can launch ERC-721s and ERC-1155s. To get started, reach out to our team for assistance.
# Minting Application
To mint your NFTs on Bit5, apply through the Minting Application Form. We will contact you after our team has thoroughly reviewed your submission. You can access to form by clicking [here.](https://docs.google.com/forms/d/e/1FAIpQLSfb0LK0nVypb1i1knzI8E_I_oqNEnb-mHwnxW-pfukvZZXfwg/viewform?usp=sf_link)
# Project Verification
To list your existing collection and recieve a verification a verification badge you must fill out the th following form. We will contact you once our team has reviewed the form. You can access the form by clicking [here.](https://docs.google.com/forms/d/e/1FAIpQLSfbH82AaYUXSj8tSpVzzUAiWAMpksAp6HmVdiD2LXuuN1UXug/viewform)
# Collection Application
If you want to create your own Collection at Bit5, you should contact us. Firstly, we want you to fill and send a Collection Application Form. We will contact you after our team has made the necessary investigations. You can access to form by clicking [here.](https://docs.google.com/forms/d/e/1FAIpQLSes0HEtUQMkDfVWmgnYIOP5Kr4gqCW8fURiRdYVcgJ8BaFkvw/viewform?usp=sf_link)
# Lending and Borrowing
You can perform your borrowing and lending transactions with your NFTs at Bit5. Borrowing and lending transactions have their own unique steps, conditions and results. You can continue with any of these steps according factors such as loan tems.
{% hint style="info" %}
To perform these oparations, you must approve some risks for Lending and Borrowing transactions on your wallet. This is a one-time allowance. It warns you of the risks involved and asks you to confirm that you are willing to take these risks. After completing this step, you can continue with your transactions and revoke your consent at any time.
{% endhint %}
**The typical loan terms**
* Loan Value: The amount of BNB the lender is willing to lend.
* Repaymant Value: The amount of BNB the borrower has to repay, which consists of the amount borrowed and interest
* Duration: The specified amount of time for the borrower to repay the loan
# Borrow BNB with Your NFTs
Use your NFTs as collateral to borrow BNB from other lenders on Bit5. To be eligible, your NFT must meet the following prerequisites:
* The collection of your NFT you wish to lend must be listed in Bit5 Marketplace.
* The collection of your NFT should not be removed from Bit5 Marketplace.
* If your NFT meets these requirements, you can use it as collateral to borrow BNB.
If your NFT meets the prerequisites, you can borrow it using it as collateral.
How does it work?
1. Advertise your NFT as collateral for lenders by specifying the amount you want to borrow. Alternatively, you can allow lenders to bid without specifying an amount and accept any incoming offers.
2. Clarify loan interest rates and repayment dates with lenders, then accept the loan offer that suits you best.
3. Upon accepting the offer, the loan amount will be deposited into your crypto wallet.
4. Your NFT is locked and secured in the contract as collateral until you repay the loan on time.
5. Repay the borrowed amount and the interest within the specified maturity, and retrieve your NFT.
# Earn Interest by Lending BNB
With Bit5, you can earn interest by lending BNB to users who want to use their NFTs as collateral.
How does it work?
1. Browse the NFTs listed by borrowers and choose the one you want to lend to.
2. Make a loan offer to the NFT owner of your choice.
3. Define the terms, such as loan duration, interest rate, and repayment amount
4. When the borrower accepts your loan offer and terms, the BNB amount will be transferred from your wallet to the borrower's wallet.
5. Upon the borrower's repayment in accordance with the specified conditions, the BNB, along with your earned interest, will be deposited back into your wallet.
**What happens if they don’t repay the loan?**
If the borrower fails to pay the debt within the specified time limit, you can liquidate the NFT provided as collateral. Be sure to take this into consideration when making a loan offer. In order to be able to liquidate it at a reasonable price if the borrower defaults, make sure that your offer is worth the value of the NFT.
# Vote
Engaging with your community is a must, and now you can see what they think on any given topic using Vote, a new feature using [Snapshot](https://snapshot.org) infrastructure.
### What is Vote?
Vote is a system where your community can express their opinion on a proposal created by the team or by community members that hold 5+ NFTs (recommended). Users can currently select a single choice within a proposal using the number of NFTs they hold in their wallet as vote weight.
### How to activate the Vote feature for a collection?
You must create a space on Snapshot.org. Contact us to turn on voting for your collection by filling out the voting application form. Your community can vote according to the strategies we have determined. You can find the form[ here.](https://docs.google.com/forms/d/e/1FAIpQLSevjGITAz7ZGJ8ozw2t0IXabsJ0wRa7xO9aa8VFId_-cOrDTA/viewform?usp=sf_link)
**Some settings that need to be done on the snapshat side to enable Vote:**
**How the strategy needs to be adjusted?**
Add the erc721 strategy and enter your NFT's contract address and symbol.
 
If the NFTs in your collection are staked and you want the staked NFTs to be counted in the votes, set the masterchef-pool-balance strategy for staked NFTs to be included in votepower.
This example is for nft collection staked on kalmy.
"chefAddress" is the address of the staking collection contract (the address can remain the same if you are doing NFT staking on kalmy). pid: is the pool ID, you can get this information from kalmy for the kalmy instance.
```
{
"pid": "2", //Moonpets pool id
"symbol": "MPNFT", //Moonpets nft symbol
"weight": 10,
"decimals": 1,
"tokenIndex": null,
"chefAddress": "0xc7b92e4a5983DeA5751B9cb027b2478388dE353c", // kalmy stake contract
"uniPairAddress": null,
"weightDecimals": 0
}
```
**How the Proposal validation needs to be adjusted?**
Validation is set to basic and the minimum score is specified. The minimum score value specifies the number of nft required to start a proposal (vote)
 
**How the Voting needs to be adjusted?**
Type: single choice voting is selected.
Validation: Basic is selected and minimum score 1 is entered. The minimum score part here indicates the votepower of NFTs.
 
Any questions? Contact us on [Telegram!](https://t.me/Bit5Official)
# Universal Wrapper
Do you have NFTs in a collection that's no longer in use? With Universal Wrapper, you can convert your collection and NFTs into DN404. This way, you can reintegrate your DN404-converted NFTs as tokens in Dex applications.
\
The Universal Wrapper is a token transformer that enables the use of ERC-721 tokens as ERC-20 tokens within DeFi applications and marketplaces. Without sounding too technical, it transforms your traditional NFTs into ones that can be fractionally owned and traded just like standard tokens on DEXs. The Universal Wrapper transforms your ERC-721s into an optimized token standard with multiple use cases, DN-404.
\
Collections face issues as the floor price rises making it hard for newcomers to join the community. Turning your NFTs into DN-404s would allow people to participate in the action without having to buy a full NFT. Imagine you could only buy 1 BTC at a time? That would be crazy. Don’t let that be the case with your collection.
Do you have NFTs in a collection that's no longer in use? With Universal Wrapper, you can convert your collection and NFTs into DN404. This way, you can reintegrate your DN404-converted NFTs as tokens in Dex applications.
In liquidity pairs created with the wrapped NFT token, you can either swap with other tokens corresponding to your token to collect those tokens, or swap for additional DN404 tokens by trading more collection NFTs.
So, by converting your unused ERC721 NFTs into DN404 using Universal Wrapper, you can use your NFTs as ERC20 tokens in Dex applications, allowing you to trade them with other tokens.
{% hint style="warning" %}
**Important**\
Universal Wrapper is in Beta Due to the functionality of DN404s, you cannot guarantee which characteristics you'll get when selling or purchasing tokens on a DEX. Keep this in mind when wrapping NFTs with high rarity. Bit5 does not accept responsibility for loss of wrapped NFTs.
{% endhint %}
# DN 404
DN404, as a new NFT standard, is a hybrid token type that combines both ERC-20 and ERC-721 features. This standard combines the functionality of two different token types under a single structure. DN404 enables NFTs to be divisible, meaning that it breaks an NFT into pieces, making it shareable between different holders. This has the potential to increase the liquidity and expand the accessibility of NFTs.
DN404 is designed to be fully compliant with the ERC-20 and ERC-721 standards. This means that transfers made on one side will be reflected on the other. This standard provides both fungible and non-fungible token functionality at the same time.
Therefore, DN404 collections have the characteristics of ERC-721 and ERC-20. However, since this standard is still in an experimental stage, users are advised to be careful when using such innovative blockchain technologies
#### DN404 Protocol Summary
1. **Token and NFT Relationship:**
* Each NFT is associated with 1 Token.
* Users can own 1 NFT for every full 1 Token they hold.
2. **Token Usage:**
* DN404 Tokens can be used in decentralized exchanges (DEX) applications. These tokens can be used for swaps and adding liquidity.
* Tokens serve as a "ticket" for users to acquire NFTs.
3. **NFT Acquisition Process:**
* Users can acquire NFTs based on their total Token amount.
* A user with 1 full Token can obtain 1 NFT. For example, a user with 0.8 Token cannot acquire 1 NFT. When they earn an additional 0.2 Token, making a total of 1 full Token, they can obtain 1 NFT.
* The NFT obtained will be randomly selected from available NFTs. Each NFT is chosen from a queue, and the selection process is random.
4. **NFT Distribution and Queue:**
* NFTs are distributed from a queue, and the NFT given is selected randomly.
* When acquiring NFTs, users receive one of the NFTs from the queue, making each NFT obtained random and varied.
# How it works?
1. To wrap an NFT with Universal Wrapper, the ERC721 collection of that NFT must first be enabled for wrapping. Any collection can be enabled for any Wrap.
2. After an ERC721 collection is enabled for wrapping, an identical collection is minted in the DN404 contract. (NFTs in the DN404 contract are minted starting from ID 1 as people wrap their ERC721 NFTs.)
3. Once a collection is enabled, anyone who owns ERC721 NFTs from that collection can wrap their NFTs.
4. After wrapping an NFT, your original NFT is taken from you and locked in the vault wallet. You are given a DN404 NFT minted on the DN404 side in place of this NFT. (DN404 NFTs are distributed according to the minting order. For example, if you wrap your MoonPets 5315 NFT and a total of 15 NFTs from the MoonPets collection are wrapped, this means NFTs in the DN404 side are minted from ID 1 to ID 15. Since the next NFT to be wrapped will have ID 16, you will receive DN404 MoonPet with ID 16.)
5. You can add the token of your new DN404 NFT to your wallet and use it in Dex applications. At this point, you should understand the operation of DN404. When you trade 1 DN404 token, DN404 takes 1 NFT from you and gives you a different NFT in return. Therefore, if you trade your DN404 MoonPet with ID 16 and then get it back, you will receive a DN404 MoonPet NFT with a different ID.
6. You can use the unwrap process to convert your DN404 MoonPet NFT back to an ERC721 NFT, but one of the NFTs locked in the vault wallet will be given to you randomly. Be aware of this and consider the potential risks when performing Wrap operations.
# FAQ
**Q: How can I wrap my NFT?**\
**A:** To wrap your NFT, first ensure that the collection of your NFT is enabled for wrapping.
**Q: Who can enable a collection for wrapping?**\
**A:** Any collection can be enabled for wrapping by anyone.
**Q: Which chains does Universal Wrapper support?**\
**A:** Universal Wrapper currently supports only BNB Smart Chain and Blast Chain.
**Q: What is the fee for enabling a collection for wrapping?**\
**A:** When enabling a collection for wrapping, users must pay a fee of 0.01 BNB for BNB collections or 0.02 ETH for Blast collections.
**Q: What is the fee for wrapping an individual NFT?**\
**A:** For wrapping individual NFTs, users must pay a fee of 0.001 BNB for NFTs in BNB collections or 0.0002 ETH for NFTs in Blast collections.
**Q: Will I receive a DN404 NFT with the same token ID as my original NFT when I wrap it?**\
**A:** No. You will receive the next sequentially minted NFT on the DN404 side. If all NFTs have been minted, you will receive a randomly selected NFT from the available ones.
**Q: Will I get my original NFT back when I unwrap it?**\
**A:** No. You will receive a randomly selected ERC721 NFT from the vault wallet.
**Q: Will I see my DN404 NFT in Bit5 when I use the token in Dex applications?**\
**A:** No. If you trade your token in Dex applications, your NFT will be traded away as well. When you acquire a new token, you will receive a random NFT according to the DN404 protocol.
# Services
# Convertion of Static Nft to Dynamic Nft (dNft).
Before diving into the dynamic NFT services provided by Bit5, let's briefly explain the differences between Static NFTs and Dynamic NFTs.
**Static NFT:** A Static NFT is a non-fungible token registered as a unique digital asset on the blockchain, typically representing a static image or work of art. NFTs are used to verify the ownership and authenticity of a digital asset using unique codes on the blockchain. Common applications for Static NFTs include digital artwork, collectible cards, virtual world items, and other unique digital assets.
**Dynamic NFT:** A Dynamic NFT is a non-fungible token registered as a unique digital asset on the blockchain that can represent dynamic elements, such as an image or an interactive piece of art. Like other NFTs, Dynamic NFTs are unique and distinct. What differentiates dNFTs from static NFTs is their ability to change, which can be triggered either by the user or external events. The fact that dNFTs can change generally makes the user experience much more interactive compared to static NFTs.
**With Bit5, you can:**
Convert your NFTs to Dynamic NFTs and customize them with a variety of features.
Keep your NFTs more engaging than ever by combining them with dynamic NFTs created for special occasions, maintaining a strong connection between your NFT community and the real world. For example, on Valentine's Day, spice up the romantic atmosphere of your NFT collection by adding specially created dynamic NFTs for the occasion.
To convert your NFTs to dynamic-NFTs or for assistance with dynamic-NFT operations, please feel free to contact us. --->
# NFT Minting
We offer complete launchpad services to bring your NFT or crypto project to life. If you are interested in using our launchpad please fill out our application form by clicking [here](/bit5-as-a-launchpad/minting-application).
# Token Minting
By Mint your own tokens on Bit5, you can exist in the NFT market with your own tokens. You can use your own tokens in your NFTs and collections.
# Road Map
**Q4 2022**
* [x] Market Research
* [x] Consept Design
* [x] Platform Architecture
* [x] Web Site
* [x] Binance Smart Integration
* [x] Smart Contracts
* [x] Technical Infrastructure Development
* [x] Wallet Integrations
* [x] Sorting And Filtering Optimization
* [x] Rarity Rank
**Q1 2023**
* [x] Marketplace Launch On Test Environment
* [x] Search Algorithm Optimization
* [x] Treasury Contracts
* [x] Privilege Contracts
* [x] Custom User Dashboard Development
* [x] Marketplace Mainnet Launch (Beta)
* [x] NFT Launchpad On Test Environment
* [x] Lending On Test Environment
* [x] NFT Launchpad Mainnet Launch (Beta)
* [x] Lending Mainnet Launch (Beta)
* [x] Multi-Chain Support
* [x] Ethereum Chain Support
# FAQs
#### Q: What is an NFT?
A: NFT stands for non-fungible token. It is a type of digital asset that represents ownership of a unique item or piece of content, such as a piece of art, a collectible, or a gaming item. NFTs are created using blockchain technology and can be bought, sold, and traded like physical assets.
#### Q: Why should I use your NFT marketplace?
A: Our marketplace offers a wide range of NFTs from top-rated artists and creators, including exclusive and rare items. We also provide secure and transparent transactions using blockchain technology and easy-to-use platform that allows you to buy, sell, and trade NFTs quickly and efficiently. Additionally, we have a community of buyers and sellers and experts to help you if you have any questions.
#### Q: How do I purchase an NFT?
A: To purchase an NFT, you will first need to create an account on our website. Once you have found the NFT you would like to purchase, simply add it to your cart and proceed to checkout. You will then be prompted to enter your payment information and complete the transaction.
#### Q: How do I know an NFT is authentic?
A: All NFTs on our marketplace are verified for authenticity and rarity by our team of experts. We also use blockchain technology to ensure that each NFT is unique and cannot be replicated. Additionally, you can verify the authenticity of an NFT by checking its blockchain record.
#### Q: How can I sell an NFT on your marketplace?
A: To sell an NFT on our marketplace, you will first need to create an account and verify your identity. Once your account is set up, you can list your NFT for sale on our platform by providing information about the NFT, such as its name, image, and description. You can set the price for your NFT, and when it is sold, the payment will be sent to the wallet you specified.
#### Q: How does the payment process work?
A: Our marketplace accepts crypto payment methods. Once you have completed a purchase, the payment will be securely processed and the NFT will be transferred to the buyer's wallet.
#### Q: Are there any fees for using your marketplace?
A: There may be fees for listing, buying or selling an NFT, depending on the type of transaction and on the policy of your marketplace. Please check the fees section of our website or contact us for more information.
#### Q: How do I know if my transaction is complete?
A: Once a transaction is complete, you will receive an email confirming the purchase or sale of the NFT. Additionally, the NFT will be transferred to the buyer's account and the payment will be processed. You can also check the status of your transaction in your account history.
#### Q: Can I return or refund an NFT after purchasing it?
A: As NFTs are unique digital assets, they cannot be returned or refunded once purchased. It is important to thoroughly review the NFT's details and information before making a purchase to ensure that it is the item you want.
#### Q: Can I resell an NFT after purchasing it?
A: Yes, you can resell an NFT that you have purchased on our marketplace or any other marketplace that supports the buying and selling of NFTs.
#### Q: How do I contact customer support?
A: You can contact our customer support team by sending an e-mail to our help center. We will be happy to assist you with your questions or problems.
#### Q: How to list my NFT collection?
A: Fill out this form with all required information to start the listing process: [Form](https://docs.google.com/forms/d/e/1FAIpQLSes0HEtUQMkDfVWmgnYIOP5Kr4gqCW8fURiRdYVcgJ8BaFkvw/viewform)
For any questions regarding listing, please email:
#### Q: **How can I verify my NFT collection?**
A: Fill out this form with all required information to verify your NFT collection: [Form](https://docs.google.com/forms/d/e/1FAIpQLSfbH82AaYUXSj8tSpVzzUAiWAMpksAp6HmVdiD2LXuuN1UXug/viewform?usp=sf_link)
For any questions on verification, please email:
# Links
# Terms Of Service
1. **Introduction** By using Bit5 NFT Marketplace ("Bit5"), you are agreeing to the following Terms of Service ("Terms"). Bit5 reserves the right to modify these Terms at any time, and such changes become effective when they are posted. By continuing to use Bit5, you agree to be bound by the modified Terms.
2. **Our Services** Bit5 provides a marketplace for users to buy and sell NFTs (Non-Fungible Tokens).
3. **Users and Accounts** You must be 18 years or older to use Bit5. It is your responsibility to keep your account secure, and you are responsible for any unauthorized access to your account.
4. **NFT Transactions** The buying and selling of NFTs occur solely between the buyer and the seller. Bit5 does not play a role in resolving any disputes that may arise in connection with transactions.
5. **Intellectual Property** The offering and purchase of NFTs do not confer any rights or licenses in the intellectual property contained in the NFTs. All rights are reserved to the owners.
6. **Disclaimer of Liability** Bit5 and the services provided by Bit5 are provided as-is and as available. Bit5 does not warrant that the services will be suitable for any particular purpose or that they will be uninterrupted or error-free.
7. **Our Rights** Bit5 reserves the right to refuse the use of Bit5 to any user or to terminate any user's account for any reason, without providing any justification.
8. **Laws and Regulations** By using Bit5, you commit to comply with all applicable local, national, and international laws and regulations.
9. **Contact** If you have any questions about these Terms, please contact us at .
# Privacy Policy
This Privacy Policy explains the information that Bit5 NFT Marketplace ("We", "Bit5", "Platform") collects, uses, shares, and protects in connection with your use of our website ("Site") and Bit5 services ("Services").
1. **Information Collected**
We collect some personal information from you during your use of our Services. This information includes:
* Account Information: Username, email address, password.
* Transaction Information: Information related to user transactions, including blockchain address.
* Usage and Device Information: History of site visits, searches, clicks, IP address, device and browser information.
2. **Use of Information**
We may use the information we collect for the following purposes:
* To provide and improve our Services.
* To send announcements and updates related to our Services.
* To provide customer service and answer inquiries.
* To fulfill our legal obligations and regulate your use of our services.
3. **Sharing of Information**
We do not share your personal information with third parties, except in the following cases:
* In accordance with legal requests.
* With our business partners to provide and improve our Services.
* With a company acquiring our Services, business or assets.
4. **Cookies and Tracking Technologies**
The Site uses cookies and other tracking technologies to provide our Services, perform analytics, and improve your user experience.
5. **Security**
We use industry-standard security technologies and procedures to protect your personal information.
6. **Changes**
We may update this privacy policy from time to time. We announce updates on the site.
7. **Contact**
If you have any questions about our privacy policy, please contact us at .
# Trading View
[Trading View](https://tr.tradingview.com/economic-calendar/) is one of the fundamental analysis tools of great importance in risk management by showing traders the release dates and times of critical economic data. The [Dollar Index](https://www.tradingview.com/symbols/TVC-DXY/) is a key indicator that measures the value of the US dollar against six other leading currencies and is a powerful analysis tool in the forex market.
