FAQs
FAQs
Can players request or send a request to rent a certain Champion? Not currently, this may be implemented in future
Can Champions be recalled or sent back early? Not currently, this may be implemented in future
Is the Champion that is sent to the renter the actual asset? It is technically a clone, known as a ‘wrapped’ version. It will look and feel like the same NFT, however conditions can be imposed on it, stopping it from being sold, moved between wallets, or used to Summon, among other things. The Champion cannot be lost. The original Champion is held in custody by the IQ Protocol Smart Contract, so it cannot be used during the rental period.
How are profits split? Tournament profits are sent to the IQ protocol contract, where they are distributed according to the pre-agreed profit share between the Owner and the Renter
What happens to the Champions Tournament record? Just like it currently does, the Champion’s record stays with the Champion (and goes back to the owner), and the renting Barracks will keep its own record too
What will happen with Runes, when they are available? They will go to the renter (the wallet using the Champion)
What happens with Wisdom earned? Wisdom always stays with the Champion itself, and is not earned by the Renter.
Is there a restriction on how many Tournaments the Champion can compete in? Not currently, however this functionality will be available at a later date.
What currency are fees charged in? USDC currently, in future WETH will be available too
Is there any way that TRV can make money from this? Yes, the functionality exists for TRV to charge a percentage on the rental fee and the Tournament earnings. This functionality is not currently active, and likely will not be turned on for some time, until the ecosystem grows.
Who is IQ Protocol? IQ Protocol is a subsidiary of Parsiq, a Crypto.com backed project. We are their launch partner for rental and very excited to integrate into their growing ecosystem, the IQverse.
Will there be any incentives to rent? IQ Protocol will be sponsoring some Tournaments for rented Champions, and promoting these to their community and other gaming communities. But the main incentive is lending your Champion out to make use of it while you aren't; the opportunity for another player to win big while using your Champion, and you to share in the spoils, is always there!
Has the contract been audited? Yes, by Pessimistic, who also audited 1inch, Zerion, Kyber and more. Read the audit here: https://github.com/iqlabsorg/iq-smart-contracts-nft/blob/main/audits/IQ_Protocol_V2_Security_Analysis_by_Pessimistic.pdf
The split is a prizepool split that is done at each event. So its a prizepool split not a profit split
Funds are added to the players TRV vault. Both owner and renter.
Might include different splits for different types of events down the road, for now just a basic set of tools
Whitelist type feature is on the IQ roadmap - allowing players to whitelist who can rent their champ. We’ve passed on feedback to IQ about the desire for a ‘request’ system where you can request a champ from an owner taht is unlisted
Will have mass listing in a near edition. Open to hear player input about how bulk rental might work
There are some contract level limitations with how the tech works atm. You can’t, currently, list your champ and still have ownership over them to do something like summon.
Players need to name their champs before they can be listed for rent. This is to stop someone putting up a champ that can’t be fought for rent.
Rented Champs barracks appear it in the game animation screen but didn’t do the champ page, we will address
During listing and champ rental, the owner can’t list to NFT for sale.
Players will need to be aware of event types and rental periods. Some events might require a player to use the same champ throughout the qualifying as well as the final. If this is the case it is the players responsibility to make sure they can rent the same champ all the way until the finals time. To be clear, the player who enters a champion into the event get the prize from that event, even if ownership of the champ changes hands before the event actually fights.
Rental doessn’t solve the issue of a bad champs but it does make onboarding new players easier. We are working on solution for non comp[etitive champs including seasons and events with unique payouts.
We made a decision that teaming won’t be policed in the same way with rental since we know that players don’t have control over who is renting their champs that are listed.
Champs can’t be listed for rent and for sale at the same time.
No limitations to the number of champs you can rent out
IQprotocol rental contract is safe and has been audited.
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