FAQ - Beta

Who holds Amasa user account funds?

Amasa is non-custodial defi. Defi providers using the same kind of model of ownership and access to funds include Aave, Balancer and many other top tier platforms.

Users maintain complete control over their cryptoassets.

Neither we nor any affiliated entity partake as participants in any transaction on the blockchain networks underpinning the Amasa platform. We do not hold, possess, or control any cryptoassets, or the funds of any user. It should be understood that by engaging with the Amasa app, you retain continuous authority over your cryptoassets.

Users utilize third-party self-custodial wallets for their interactions with the Amasa app; we do not exert control or provide assurance concerning these wallets.

To interact with the Amasa platform via the app UI, it is necessary to connect and engage with it using your self-custodial wallet. It is of utmost importance to understand that your self-custodial wallet is supplied by a third-party entity and is generally governed by distinct terms and conditions set forth by the respective third-party service provider. These terms and conditions may encompass additional charges, disclaimers, or risk advisories related to the accuracy and reliance upon the provided information. Examining and understanding the terms and conditions associated with your chosen self-custodial wallet provider to ensure adherence and to be fully informed about any applicable costs or risks remains your sole responsibility.

Amasa core team, contributors or developers do not act as intermediaries for Amasa platform transactions.

Due to the non-custodial and decentralized nature of the technology, we do not serve as intermediaries, agents, advisors, or custodians. We do not hold a fiduciary relationship or obligation to you concerning any other decisions or activities you undertake when utilizing Amasa services.

Auto Allocation funds are kept in Amasa platform smart contracts and can only be withdrawn by a user who holds amTokens in a Metamask wallet connected to their Amasa account. More information on amTokens and how this works can be found here.

What tokens can I deposit into my Amasa account?

For now only MATIC can be deposited. The Auto Allocation feature is a process of automated transactions across multiple defi options via our set of smart contracts. To avoid transaction issues, the token deposited must be highly liquid and be easily transferable on decentralized exchanges to allow the automation to run smoothly and at minimum cost.

Also, MATIC is the token of Polygon which Amasa is built on, so it simplifies steps to use it as the base liquidity token for Amasa.

Over time additional tokens will be integrated for users to be able to deposit into Auto Allocations, including the AMAS token to expand its functions as the ecosystem token for the platform.

Are my funds locked in for a time period?

No. There are no lock up periods currently or plans to introduce them. Funds can be withdrawn at any time as long as the Polygon network, Metamask and Amasa app are operating normally at time of withdrawal.

What happens to my funds if I change my Auto Allocation?

Changing your Auto Allocation has no impact on funds already in your account. Until you withdraw funds from an Auto Allocation option ( eg Bitcoin ) the funds remain there. After a change to your Auto Allocation settings, any future deposits will be allocated according to the new settings.

What are web3 incomes?

Web3 apps that pay users for things they're already doing – like gaming, web browsing, exercising, social networking and more - are providers of web3 incomes. If you're earning on web3 apps, you're getting web3 incomes. The tokens or NFT's you earn, if they have a value outside the app you earn them on or can be swapped for tokens with external value, have real world value as income. Check out this link to learn more.

When can I get my web3 incomes paid directly into my account?

We have had many positive meetings with web3 gaming and other income providing projects, and continue to discuss integration timelines and opportunities. From feedback and with a view to making sure integrations will be beneficial to each web3 project, as well as shared communities of users and to Amasa, we are focused on releasing a valuable product and growing our own community of users before committing to integrations.

If you earn on a web3 app and would like them to pay directly into your Amasa account, user-led requests for an integration supported by the community of that app/ project is a great way to get a new potential integration started. Connect here if you would like to discuss getting an app you use ( or are working on ) to integrate with Amasa so you can be paid directly into your Amasa account.

What fees are there in using the app?

Current fees for beta are 1% on deposits and 2% on withdrawals.

Fee revenue is to help keep the platform operating and growing. The fee amounts may change at any time, and fee structures and amounts will be governable by community proposal and vote at a later stage.

Users are informed where fees apply to transactions in the app when depositing and withdrawing.

Network gas fees are applicable to transactions.

When conducting transactions using Polygon and other blockchain networks, it's important to be aware that gas fees may be incurred. Gas fees are essentially network transaction charges that are applied to each transaction executed on the chosen blockchain network. It's worth noting that gas fees are non-refundable.

Am I restricted from using Amasa?

The use of the Amasa platform, including the purchase or acquisition of tokens through the app, is prohibited for individuals or entities located in the United States and any jurisdictions in which it may be unlawful, prohibited, or unauthorized. By accessing or using the app or platform, you represent and warrant that you are not a Restricted Person as defined here and in this Disclaimer.

"Restricted Person" refers to:

a. Individuals or entities located in the United States, including its territories and possessions;

b. Individuals or entities subject to United States sanctions, embargoes, or other restrictive measures imposed by the Office of Foreign Assets Control (OFAC) or any other relevant regulatory authority;

c. Individuals or entities located in jurisdictions where the use of the Service is prohibited, unlawful, or unauthorized by applicable laws or regulations.

You are solely responsible for ensuring compliance with all applicable laws, regulations, and restrictions in your jurisdiction. If you are a Restricted Person, you must refrain from accessing or using the Service, including the purchase or acquisition of tokens through the app.

When will Amasa offer rewards in the app?

Rewards of AMAS are planned to be implemented into the app in later versions. Users will be able to earn AMAS tokens through activity in the app, for example by connecting integrated web3 income providers and earning with them, or for actively using the app for time periods. Earning AMAS will give users additional benefits through holding tokens, including governance and access to special offers.