How To Return Collateral Pledged for Depositing FRED Bounty Stakes

To get back the TKP collateral tied during FRED bounty stakes depositing use one of the two options described below.

1. Settlement BEFORE the distribution of FRED tokens to bounty participants.

You can settle your obligation at any time, before FRED tokens distribution to bounty hunters, by simply giving back the FRED bounty stakes, which you had previously deposited.

How to do that?
1. Open Collaterelize Asset page
2. Find the line with the bounty stakes which you want to settle
3. Click on [settle] button as shown in the example below.

Releasing TKP collateral BEFORE distribution of FRED tokens

The result, the same amount of previously collateralized and deposited bounty stakes will be deducted from your Tokpie account balance. At the same time, the tied TKP tokens will be unlocked.

IMPORTANT: Before settlement, make sure that you have these bounty stakes on your Tokpie account balance. If you don’t have, then delete all opened orders here or buy these stakes in the related market.

2. Settlement AFTER the distribution of FRED tokens to bounty participants.

If you have not yet fulfilled your obligation as described in the 1st option above, then Tokpie sends you an email notification containing the following information:

  • amount of FRED tokens that you must send to Tokpie. It’s calculated as stakes-to-token conversion rate x the number of unsettled bounty stakes;
  • a wallet address to which you must transfer FRED tokens.

– Tokpie sends this email notification only after FRED tokens are distributed to all eligible bounty hunters. Then, you will have 48 hours to transfer FRED tokens;
– After a successful transfer, you will get back TKP tokens previously tied as collateral automatically.

What if bounty campaign fails

If Fred Energy project doesn’t distribute FRED tokens to bounty hunters for any reasons (a failed project) then Tokpie returns TKP collateral to a user who has collateralized and deposited FRED bounty stakes, due to the formula: 

TKP pledged as collateral - TKP tokens already obtained by a user from selling the related bounty stakes

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