Wallet Reset
Resets are used to keep your MONSTA wallet active.
Last updated
Resets are used to keep your MONSTA wallet active.
Last updated
Keep your wallet in "active" status and avoid the inactivity tax by performing a buy/sell/transfer of at least 5.01% of your wallet balance every 50 days, OR, utilize the "reset" function in the dAPP.
To make things simple, we have provided an activity timer in the dAPP that tells you the remaining time before your wallet will be eligible for the Inactivity Tax.
We've also included a "RESET" button to automate the process for you. This function transfers 5.01% of your MONSTA balance back to yourself, so you don't need to do any calculations to get your wallet active again. As this counts as a transfer, this function will apply a 5% tax on 5.01% of your holdings, resulting in a total of 0.25% tax on your total wallet holdings every 50 days.
You have 1 million MONSTA in your wallet
No sell/buy/transfer transaction of more than 5% has been made for 49 days, so you have 1 day left before the Inactivity Tax is due
You use the 'RESET' function in our dAPP, which transfers 5.01% to yourself.
5.01% of your 1,000,000 balance is 50,100 MONSTA and this 50,100 gets transferred to you
5% tax will apply to the 50,100 which is 2,505 MONSTA and this represents a total of 0.25% of your total MONSTA balance and leaves you with 997,495 MONSTA in your wallet.
You now have 50 days before you need to reset your wallet again to prevent taxation for inactivity
