😱 95 Q&A
We continue to answer the questions of our users. Today we will provide you with answers to a huge number of questions. Here we go!
1. Why are there so many technical problems during migration?
We don’t think there have been many problems. Migration is a complex process so, naturally, some technical difficulties did sometimes arise. This is normal for such a large project as the ROY Club.
It’s just that the launch of a new token involves a lot of nuances. We need to synchronize operations of different systems and databases — for example, the ROY Club database and the UMI blockchain. Accordingly, this may cause instability at the initial stage, but we successfully solved all these issues as they appeared. Our developers are continuously improving the ROY Club functionality, and currently all technical problems have been successfully eliminated. Migration works fine.
2. Will everything be fine with GLIZE? Is there a chance that GLIZE will have the same fate as UMI? If the ‘whales’ who manipulated the exchange rate come to the GLIZE project, will it face the same fate as UMI?
The UMI cryptocurrency has been developing well for a year and a half and continues to develop so we believe that saying something like ‘GLIZE will have the same fate of UMI’ is inappropriate.
Nevertheless, the price of UMI has really dropped quite a lot. The reason for this is that at some point too many coins began to be created due to the high staking percentage. This is why dynamic percentage has been integrated into GLIZE staking — it changes depending on the staking stage and the number of tokens in the pool. Eventually, staking will stop completely. So the problem of high emission rates is solved here through the more elaborated tokenomics.
In addition, in the future, GLIZE will become the foundation of the NFT marketplace and part of the UMI OneApp ecosystem. Accordingly, everything will be fine with the token technically — it will only progress and develop successfully.
Learn more about UMI OneApp — https://umi.top/about.
3. What is the US dollar exchange rate used for calculations during migration from UMI to GLIZE?
The GLIZE price is not linked to the dollar, it’s linked to UMI. For example, if GLIZE is sold for 10 UMI on the exchange, and the UMI price is $0.04, then the GLIZE price is $0.4. You can always see the current exchange rate in dollar equivalent on the SIGEN.pro exchange by selecting the USD tab.
GLIZE on SIGEN.pro — https://sigen.pro/trading/GLZ_UMI.
4. Will UMI be burned to the genesis wallet?
UMI is burned using a new type of transaction which was integrated on November 29, along with the new UMI network node. This transaction type is called Burn. Through this transaction, coins are destroyed — completely withdrawn from circulation to never be available again. Here are examples of the first transactions which burned about 350 million UMI:
👉https://blockchain.umi.top/transaction/2ac9676f0d241f0a55d12eb960fd716ae00ad5c4178a0bf649453e6ad12cc119
👉https://blockchain.umi.top/transaction/48f47f9996cd9c86565d8ad5ab0c06467cf1565c1b5d68c93dd1ee64c039bb4f
👉https://blockchain.umi.top/transaction/3bee8cbb2cda56a8073ab038614c9f0a48a33a7c7a5c210fa06fb46988f6ddb4?block=6062978
P. S.: The second transaction is not designated as Burn in the UMI blockchain browser since a different type of transaction was used. With its help, UMI was converted into GLIZE tokens. However, UMI coins were still withdrawn from circulation forever and destroyed so the number of UMI coins was reduced by 150 million thanks to the exchange for GLIZE.
5. Will UMI and GLIZE price ups and downs correlate in percentage terms? Like, for example, we can see that the ETH rise pulls all tokens based on its blockchain. Will the GLIZE price also depend on UMI in the future?
GLIZE is currently paired with UMI — respectively, UMI rising against the dollar may lead to an increase in the GLIZE price against the dollar.
However, both assets have market pricing so UMI rising to the dollar may result in GLIZE rising to UMI and, accordingly, to the dollar. Conversely, UMI could drop and GLIZE could rise.
Also note that this situation can be seen throughout the crypto market. When rising, ETH does not pull all tokens. Although tokens are based on the Ethereum blockchain, they are a separate project with its own pricing.
6. If the UMI price is $3, what will be the price of GLIZE?
If UMI now rises to $3 and GLIZE still costs 8 UMI (current prices), then the GLIZE price will be $24.
However, we repeat that GLIZE pricing is market-based so it is impossible to predict the token price in advance. It all depends on the market, the mood of token holders, and other factors.
7. If migration happens at the rate of 3.33% per day, 100% of GLIZE tokens will arrive in a month. What if 50 million GLIZE is collected before a month elapses, what will be the amount charged on staking?
Migration payments of 3.33% per day are credited to the GLIZE staking balance in your personal UMI mnemonic wallet.
Staking revenues are calculated based on the amount that is actually stored on the user’s staking address.
Currently, the staking percentage is 7% per month. That is, all users are already multiplying their assets at the rate of 7% per month. The staking percentage will grow as the number of GLIZE tokens in the staking pool increases at the following rate:
5 million GLZ in the pool and more — 3%/month
10 million GLZ in the pool and more — 5%/month
20 million GLZ in the pool and more — 7%/month
30 million GLZ in the pool and more — 10%/month
50 million GLZ in the pool and more — 13%/month
75 million GLZ in the pool and more — 16%/month
100 million GLZ in the pool and more — 20%/month
150 million GLZ in the pool and more — 25%/month
8. Will you arrange an airdrop for GLIZE as you did for UMI?
We don’t plan to do this at the moment.
9. If tokens don’t arrive all at once, how can you get all the tokens into the structure if they will only arrive a month after the exchange?
After migration, tokens are credited to your staking balance at the rate of 3.33% per day. It means that you don’t need to ‘get’ them anywhere, they will automatically go to staking.
At the same time, you can send tokens purchased on the exchange to your staking address at any time, and they will be credited to your staking address instantly.
10. Will Market Makers take part in the exchange of GLIZE for UMI?
Currently, we have no plans to involve professional Market Makers and pair them with GLIZE. Perhaps, in the future, we will invite them to increase token liquidity and stabilize trading, but right now it’s all developing as usual.
11. Will there be a big exchange in the future: 1:11, 1:15, etc?
Based on the current plan, after the exchange of 500 million UMI, the migration stage will be completed. After that, GLIZE tokens will only be available for purchase on the exchange.
The GLIZE price on the exchange will then depend on supply and demand.
Nevertheless, if there are many applications of this kind, we will consider this proposal and, perhaps, will implement it if it does not contradict the GLIZE tokenomics.
12. Will the GLIZE be traded on SIGEN.pro separately, without converting it to UMI? Will GLIZE allow users to transfer coins to other cryptocurrencies? For example, to Bitcoin?
Currently, we have no plans to add new trading pairs. So far, it’s only paired with UMI for trading, and this market is sufficient. But if we feel the need to create new trading pairs, we will definitely deal with this issue.
13. What is the difference between personal balance and migration balance?
Migration balance is the amount that you will receive when you exchange UMI for GLIZE at the established rate. For example, if you sent 80,000 UMI for exchange at the 8:1 rate, you will receive 10,000 GLIZE — this is your migration balance. However, you can also still get various bonuses established for each stage of migration.
That is, the sum of the initial migration balance and established bonuses is your personal balance. At the same time, your personal balance may change when you deposit or withdraw GLIZE while your migration balance will not change.
14. I can’t run a transaction with GLIZE, it says that this transaction is for a future date, what should I do? What is an incorrect stamp? When I make a transfer from my wallet to SIGEN.pro, it says this again and again. Transaction cannot be sent from UMI Wallet to the account for exchanging UMI for GLIZE.
The problem is that you have a wrong time setting on your mobile device or computer. To fix the problem, set the correct time and time zone. Many devices support automatic configuration, so you can use it.
It is also important to use the latest version of the app. It is advisable to run a complete reinstallation of the UMI Wallet mobile app — delete it and download it again.
❗️IMPORTANT: SAVE THE MNEMONIC PHRASE BEFORE UPDATING THE APP
Make sure that you have securely stored the mnemonic phrase and will be able to enter it when logging into your wallet. After reinstalling the application, you will need to re-enter the mnemonic phrase. If you don’t have it, you won’t be able to access your crypto assets.
Links to the current version of UMI OneApp:
👉 For iOS: https://apps.apple.com/ru/app/umi-wallet/id1527992117
👉 For Android: https://play.google.com/store/apps/details?id=com.umi.umiwallet
👉For Huawei: https://appgallery.cloud .huawei.com/ag/n/app/C104241307
15. Will the fee be reduced when switching to staking?
No. A fee of 15% a part of GLIZE tokenomics and ROY Club referral program maths. It will always be at this level.
16. When will you launch the promised GLIZE loot boxes?
We cannot give you the exact dates since the development of loot boxes takes time. NFT is a rather complex product. Also, the loot boxes will primarily be aimed at increasing the staking percentage, while at the red staking stage, the percentage is already good — up to 25% per month.
17. What should people who lost UMI due to technical problems during migration do?
We are not aware of any cases of UMI loss during migration due to technical problems. All users received and continue to receive GLIZE based on the exchange rate.
If there are any losses, it is probably due to personal negligence of the user. For example, they could have used a new type of Burn transaction in the UMI wallet and burn their coins. There is nothing we can do about it, the coins are destroyed forever without the possibility of any refund — this is the essence of the burning mechanism.
Please note that before the coins are actually burned, the whole procedure is explained to the users so it is extremely difficult to burn the coins ‘accidentally’.
18. Will GLIZE only be traded on SIGEN.pro?
As the token develops, listing on other trading platforms is quite likely. Since GLIZE is a token based on the UMI blockchain, technically there should be no problems about adding GLIZE to the exchanges where UMI is traded (by analogy with tokens based on the Ethereum or Binance Smart Chain blockchains).
Please, also note that we are first of all considering listing on the new decentralized exchange U-DEX which will appear on the UMI OneApp platform very soon.
Learn more about U-DEX — https://umi.top/swaps.
19. Why is the GLIZE price so high? Why is it even higher on the exchange?
The GLIZE price on SIGEN.pro is defined by supply and demand. Accordingly, the high price indicates a high demand for the token. The price on the exchange and the migration rate are now about the same, but you also get additional bonuses when you migrate.
Do not forget that the UMI team added about 50 million UMI to the GLIZE buy order book at the rate of 8:1. This also supports demand and prevents the exchange rate from dropping.
Anyone can check the availability of the order book on their own. To do this, open the GLZ/UMI pair on the exchange — https://sigen.pro/trading/GLZ_UMI.
20. When will the GLIZE token start the staking you promised?
GLIZE staking has already started, immediately after 5,000,000 tokens was accumulated in the staking pool. This happened on December 1, 2021.
Currently, the staking percentage is 7% per month and this value will grow as the number of tokens in the pool increases. As part of the red staking stage, the percentage can reach 25% per month. But there must be at least 150,000,000 GLIZE in the staking pool.
You can view the number of tokens in the pool, the staking percentage, and stage on the ROY Club website in your Personal Account — https://royclub.io /.
The number of tokens in the staking pool and the staking percentage can be viewed in the UMI blockchain browser — https://blockchain.umi.top/glize.
21. Have you noticed that participants often ask questions about the exchange of UMI for GLIZE? Even now, when this has been discussed thousands of millions of times. Are you really ready to answer all our questions again?
Yes, we notice everything and are always ready to answer any questions as many times as required. :)
We value maximum transparency and honesty. Thanks for the interesting question.
22. Why does not GLIZE arrive aty wallet? I have updated all applications. Others have received the tokens, but I have a zero balance.
GLIZE accruals do not occur immediately, it happens gradually — during the day. Just wait a bit, and the tokens will arrive at your wallet.
It’s important to emphasize that tokens are credited to GLIZE addresses in your mnemonic UMI wallet on UMI.top. Make sure that you check the correct GLIZE address and it matches the one you received during migration. To do this, go to your ROY Club account and make sure that you really transferred UMI to the specified replenishment address. If you use a mobile app, check that you have installed the latest version.
ROY Club Website — https://royclub.io/.
Links to the latest version of the ROY Club app:
Apple App Store: https://apps.apple.com/ru/app/roy-club/id1498052381
Google Play Market: https://play.google.com/store/apps/details?id=com.roy.royclub
Huawei AppGallery: https://goo.su/40NX
We also remind you that you cannot register in GLIZE using the SIGEN.pro address, you can only use the mnemonic UMI wallet. We have repeatedly reminded you of the need to use the mnemonic wallet.
23. Some transactions take a very long time, will it be solved? Why does a transfer from UMI Wallet to SIGEN.pro take so long?
Transactions in the UMI network are instantaneous. You can see it for yourself using the blockchain browser — https://blockchain.umi.top/. To do this, enter your address or the address of the recipient of the coins and you will see that the transaction was added to the blockchain immediately after you sent it.
Delays in crediting coins or tokens to crypto exchange addresses, including SIGEN.pro, are indeed possible. However, they are due to a high load on the databases of the trading platforms. Currently, as far as we know, the situation has already stabilized and coins/tokens are credited in the usual way.
However, we would like to emphasize that sometimes transfers to and from SIGEN.pro may be delayed. It is a usual thing. If the coins do not arrive for a very long time, create a ticket at https://sigen.pro/support.
24. Will GLIZE somehow interact with UMI and UMI OneApp after burning?
Yes, in the future, GLIZE will become the basis for the UMI OneApp’s NFT marketplace, and will also be available on the DeFi platform as one of the staking-supporting assets.
GLIZE will also be added to the UMI OneApp liquidity pools so you will have the opportunity to receive additional remuneration and farming.
And, of course, GLIZE will be added to the U-DEX decentralized exchange in UMI OneApp.
Learn more about UMI OneApp — https://umi.top/about .
25. Will the exchange of GLIZE for UMI always be available? If so, will the rate change?
If you mean migration, the answer is no. The rate will remain 1:8 until 500,000,000 UMI has been exchanged. Right now, users have already exchanged over 360,000,000 UMI so slightly less than 140,000,000 UMI is left to be exchanged.
After that, migration will be over, and you will only be able to obtain GLIZE tokens on the exchange by buying them from other users. The exchange rate will then be determined by the bidders.
However, if we receive a lot of requests from you with a request to extend migration, we will consider this possibility and, if it does not contradict the GLIZE tokenomics, implement it.
26. What if the GLIZE to UMI rate is 1:1, what shall we do?
It’s nothing different from other rate values. You will still be able to use GLIZE for staking. UMI, on the other hand, will still be a high-speed blockchain coin without fees. In the future, it will also be used on the UMI OneApp DeFi platform to gain access to various functions, and GLIZE will become the basis for the NFT marketplace.
The rate is determined by the market. For example, if the UMI price goes up to $1, then you will benefit from the GLIZE to UMI rate of 1:1, right? Because it will be 5 times higher than it is now relative to fiat money.
So if the UMI price will grow against the dollar due to burning and deficit, it is quite possible that the GLIZE price will also grow against the dollar, even if it falls against UMI. It’s all very relative, this is the market. :)
27. Someone stole coins from my UMI Wallet after I clicked your link. There have been many cases of coins stolen from UMI Wallet, what is the reason? Will it be resolved? When?
UMI Wallet and UMI blockchain are 100% secure and protected from hacking. This is confirmed by technology, open source and audit by Bramah Systems.
Thefts from wallets only happen due to the negligence of users who give their mnemonic phrases to scammers on phishing sites or in other ways. These sites are disguised as the official ones, we have issued warnings about them in the news many times. We would like to emphasize that if you did follow OUR link or the link from the official UMI news, your coins would not have been stolen.
We are really sorry, but we cannot help in any way if the user’s coins were stolen by scammers. The UMI blockchain is completely decentralized, and there are simply no options allowing to forcibly withdraw coins — this is technically impossible.
We will duplicate the official links to the UMI web wallet and the UMI Wallet mobile app:
Web wallet — https://wallet.umi.top/.
👉 For iOS: https://apps.apple.com/ru/app/umi-wallet/id1527992117
👉 For Android: https://play.google.com/store/apps/details?id=com.umi.umiwallet
👉For Huawei: https://appgallery.cloud .huawei.com/ag/n/app/C104241307
28. When will the GLIZE token be released on exchanges?
It already has. GLIZE is already traded on the SIGEN.pro exchange — https://sigen.pro/trading/GLZ_UMI .
29. How can I make a reverse exchange of GLIZE for UMI?
GLIZE can be exchanged for UMI on the SIGEN.pro exchange. Reverse exchange within the migration program is unavailable.
GLIZE on SIGEN.pro — https://sigen.pro/trading/GLZ_UMI .
30. When will GLIZE trading be launched on SIGEN.pro?
GLIZE trading on SIGEN.pro has already been launched on December 1, 2021. Here is the trading pair — https://sigen.pro/trading/GLZ_UMI .
31. Many people believe that UMI will not grow anymore. Is it possible?
The UMI price is determined by the market. UMI and ROY Club teams are making every effort to increase demand for the coin.
Currently, we’re actively working on the launch of the UMI OneApp ecosystem, with the beta version to be released this month, and coin burning is also actively carried out to create a shortage.
The demand for UMI will likely grow as the UMI OneApp DeFi platform develops because UMI will be its native coin. It means that you will need to buy it in order to get access to various functions on the UMI OneApp platform. The interest of market participants in the coin along with burning could provoke an increase in the exchange rate.
Learn more about UMI OneApp — https://umi.top/about.
32. Vladimir Moshkin said that there will be 18 structures, when will this be done and will it be done at all?
Staking in the UMI network was stopped by the decision of the community after the decentralized vote. Accordingly, there are and there will be no more UMI staking structures.
However, with the development of UMI OneApp, tokens based on the UMI blockchain will be created. Perhaps this functionality will be used to implement the ideas of Vladimir Moshkin. Time will tell.
Learn more about UMI OneApp — https://umi.top/about
33. How do I transfer GLIZE to a staking address? How do I transfer referral bonuses to staking?
1. Log in to your wallet on umi.top or in the UMI Wallet app.
2. Open your staking address and copy it (starts with gls).
3. Go to the wallet from which you want to send GLIZE to the staking address.
4. Insert the staking address for the transfer, select the amount and confirm the transfer.
Wallet on UMI.top: https://wallet.umi.top /.
Link to download the UMI Wallet app:
👉 For iOS: https://apps.apple.com/ru/app/umi-wallet/id1527992117
👉 For Android: https://play.google.com/store/apps/details?id=com.umi.umiwallet
👉For Huawei: https://appgallery.cloud .huawei.com/ag/n/app/C104241307
34. Can I sell GLIZE in the SIGEN.pro app? How? Describe it step by step, please. How do I transfer GLIZE to SIGEN.pro? How do I sell GLIZE on SIGEN.pro? How do I exchange GLIZE for UMI? How do I withdraw GLIZE?
1. Go to SIGEN.pro, to the Wallet section — https://sigen.pro/balance/UMI;
3. Create a GLIZE address if you haven’t done so yet;
4. Send tokens from UMI Wallet to this address;
5. Once the tokens arrive on the balance, open the Exchange section on SIGEN.pro;
6. Select the GLZ/UMI pair — https://sigen.pro/trading/GLZ_UMI;
7. Select the Sell tab, the Limit Order;
8. Enter the desired UMI price and the GLZ amount;
10. Wait for your sell offer to work;
11. If you want to sell quickly at any available price, select the Sell tab, then Market;
14. The system will automatically sell your tokens at the market price.
To withdraw GLIZE from the exchange:
- Go to the wallet on the exchange;
- Specify the address to which you want to withdraw tokens, and the amount;
- After that, confirm the transaction.
We have also prepared video tutorials for you here:
https://www.youtube.com/playlist?list=PL9Dj2WVTq0DNGre3IjGxtJJnCVG_sNKhs
35. How did the ISP Club team react to the theft of coins from their users’ wallets?
The ISP Club team conducted an investigation in the shortest possible time, found out the reason for the theft and did everything in its power to prevent further theft of coins. The UMI team also announced that users needed to delete correspondence with the ISP Club bot, on their social networks.
In addition, we have information that the ISP Club team is currently developing a new token it will use to pay compensation to the victims. For more information, please contact the ISP Club.
36. Based on the latest developments, when is UMI expected to grow?
No one can accurately predict when a particular cryptocurrency is expected to rise or fall. Currently, coin burning and development of UMI OneApp are underway. The release of UMI OneApp may spur market participants’ interest in the coin, as it will play a key role in the future DeFi ecosystem. If this happens, an increase in the UMI price is a possibility.
Learn more about UMI OneApp — https://umi.top/about .
Also, as UMI is burned, a shortage of coins is already being created, and, if GLIZE successfully develops, demand for UMI will be formed since you need to buy UMI to buy GLIZE. This can also spur growth of the exchange rate.
In addition, as UMI is burned, we will raise the UMI buy wall worth of 211 BTC. With each UMI burning transaction, the wall rate will continue to grow, which will be an excellent prerequisite for the development of the coin in the future. We would like to remind you that thanks to the 211 BTC wall each UMI coin is fully backed by bitcoin. Everyone can sell any amount of UMI while remaining confident that the rate will not fall below the established minimum.
37. I can’t withdraw UMI to my trading balance, it just doesn’t happen, what should I do? When I transfer UMI from my structural balance to my commercial balance, SIGEN.pro does not run the transfer, it just goes back to the previous page, are there any problems? UMI on SIGEN.pro disappeared, it’s not on my structural address.
UMI coins were automatically transferred from structural addresses to trading balances until December 3. Currently, this transaction has been successfully completed.
You can double-check your balance — and you will find your coins there. If you still do not find them, please contact SIGEN.pro support, they will be happy to help you — https://sigen.pro/support.
38. When will UMI OneApp be released?
The release of the first version of the ecosystem (beta version) is scheduled for the second half of December. So we are expecting the first release in the nearest future.
39. Why are migration bonuses not included in daily 3.33% deposits?
This is necessary for GLIZE tokenomics — to avoid UMI staking errors. It is important not to create too many GLIZE tokens immediately as it can put a lot of pressure on the price.
Migration bonuses will begin to accrue immediately after the final ‘body’ payments for migration to GLIZE. Bonuses will also be accrued at the rate of 3.33% per day. In other words, the ‘body’ is paid in the first 30 days after migration, the bonuses — in the next 30 days.
40. What shall I do with UMI? I’ve been thrown out of the ROY Club Personal Account, my UMI has been transferred to SIGEN.pro. To be honest, I can’t understand the joke with the transfer of UMI to GLIZE. What is the price there and what is the benefit?
Your UMI has been transferred from your SIGEN.pro structural addresses to trading addresses because UMI staking has been stopped and, accordingly, there are no more UMI staking structures. Do whatever you want with UMI. These are your coins, and you can do anything you want.
You can sell them or hold them until a potential price increase in the future. You can later use them on the UMI OneApp DeFi platform which is currently being developed.
Most importantly — you can exchange them for GLIZE in order to multiply the new tokens thanks to the staking percentage of up to 25% per month. To do this, you need to create a mnemonic UMI wallet on UMI.top and register in GLIZE (on the ROY Club website) using your UMI address.
Then, you can exchange UMI for GLIZE using the migration option in the ROY Club’s Personal Account (by transferring the coins to the replenishment address), or by buying GLIZE on the exchange and sending it to your staking address. We recommend migrating to GLIZE because it offers you good bonuses. But it’s your call to make!
SIGEN.pro — https://sigen.pro/.
UMI Wallet on UMI.top: https://wallet.umi.top/.
ROY Club Website — https://royclub.io/.
41. What will be the market exchange rate when exchanging GLZ/UMI?
As you correctly noticed, it’s the market rate. Accordingly, the rate will be as the market decides. We cannot know what it will be like in the future.
You can see the GLZ/UMI rate in real time on SIGEN.pro — https://sigen.pro/trading/GLZ_UMI.
42. What will happen to SIGEN.pro, will it continue to trade UMI coins?
As far as we know, the UMI coin will continue to be traded on the SIGEN.pro exchange. Nothing will change.
43. What will be the maximum staking percentage per month for the GLIZE token?
At the red staking stage, the maximum percentage is 25% per month. At the blue staking stage — 15%, at the green stage — 10%. But, in the future, there will also be NFT-loot boxes that will allow you to increase the staking reward by 5–25% per month.
Learn more about GLIZE tokenomics in the Light Paper — https://royclub.io/cdn/downloads/corporate-style/glize-eng.pdf.
44. Greetings! Please, advise if the ‘GLIZE structure volume’ is the pool.
Yes. The ‘GLIZE structure volume’ is the total number of tokens in the staking pool. Staking percentage depends on the pool value.
45. How will UMI coins that have been exchanged for GLIZE tokens be burned?
Coins are burned using a new type of transaction — Burn. The coins are destroyed for good.
The UMI team reports on the regular coin burns via its official channels. For examples:
👉 https://t.me/umi_news_eng/461
👉 https://t.me/umi_news_eng/465
👉 https://t.me/umi_news_eng/470
46. Will there be any perks for the oldies of the ROY Club community in UMI OneApp in the future? Will UMI continue to cooperate with the ROY Club after Coinmarketcap issued a warning?
UMI OneApp will have the functionality presented in the Manifest — https://umi.top/OneApp_eng.pdf.
The UMI team will continue to cooperate with us, despite the misleading notice on the CoinMarketCap page. We have already planned out a tight integration of GLIZE and UMI OneApp. Naturally, the ROY Club community will have new opportunities to earn on cryptocurrencies with the help of UMI OneApp, including staking and farming.
As for CoinMarketCap, we are sure that this warning will not be there forever. The UMI team is actively working to ensure that this is removed as soon as possible.
47. Why was the initial exchange rate 5 to 1 instead of 1 to 1, etc.? Why is this token better than the coin? If there are no people willing to buy the token now, then its rate may fall below 5 to 1? Again, without inviting new users, it can repeat UMI history all over again, or am I wrong? Why should GLZ price grow?
The initial exchange rate of 5:1 was determined taking into account the GLIZE tokenomics and to encourage the first members of the ROY Club who migrated from UMI staking. This is included in the GLIZE tokenomics which is more developed compared to UMI staking and takes into account all its disadvantages.
It would be inadequate to compare UMI with GLIZE in terms of ‘what is better and what is worse’. UMI is a coin with its own blockchain used as the basis for many DeFi products. Being a token, GLIZE is, in fact, just one of the above products.
The GLIZE price may both rise and fall. But, first, do not forget about the 50 mln UMI order book on SIGEN.pro which was set up by the UMI team at the rate of 8:1. Second, we would like to emphasize once again that GLIZE has a unique, carefully designed tokenomics with lower percentages and limited emission, so there should be no problems with the overabundance of tokens.
Besides, in the future, GLIZE will become the basis for the NFT marketplace and part of the UMI OneApp ecosystem. Technically, GLIZE is a token that will have its own product demanded by the market that will only progress and develop.
Finally, we would like to repeat that the price is determined by the market. For example, if the UMI price goes up to $1, then you will benefit from the GLIZE to UMI rate of 1:1 or lower, right? It’s because it will be 5 times higher than it is now, relative to fiat money.
So if the UMI price grows against the dollar due to burning and deficit, it is quite possible that the GLIZE price will also grow against the dollar even if it falls against UMI.
48. How will the GLIZE referral system work and what bonuses will be offered?
We have provided generous rewards for active leaders who develop GLIZE and the ROY Club. Our referral program offers 5 types of bonuses, unlimited growth in width and depth, a personal bonus of up to 12% and up to 7% for indirect referrals, and much more.
All features and benefits of the GLIZE referral program have been described in a separate document. You can review it here — https://royclub.io/referral-program.
Will GLIZE create an NFT-game with reference to the ROY Club? It would be really cool!
Hmm… The idea is really good. We will give it a thought. ;)
50. Can you explain why GLIZE opted for NFT?
NFT has a promising future. The market of non-fungible tokens (NFT) has seen a great boom this year. Digital artists sell their works for hundreds of thousands and millions of dollars; video game developers actively integrate NFT tokens into their projects, and sports clubs sell their players’ cards in the format of NFTs.
NFTs are actively used and developed in such areas as:
And this is just the beginning — NFTs can be used in a range of areas which involve identity verification and documents or items authentication: law, insurance, real estate and antiques, certification and licensing.
That is why GLIZE and ROY Club have chosen NFT as a key sector of development.
51. How much can the migration to the GLIZE token help the UMI coin?
During migration to GLIZE, UMI coins are burned, which will create a shortage of coins and increase their value. After the migration, the number of UMI will be halved to 500 million coins. Then we plan to use other tools for burning UMI which will be included in UMI One App.
Using deflationary mechanisms is a common practice in the crypto market as they help assets rise in value. ETH, BNB, CAKE are perfect examples.
Moreover, in order to get GLIZE, users first need to buy UMI. It will create additional demand for the coin. Therefore, we can safely say that the migration to GLIZE is extremely beneficial to UMI.
52. Why was the coin burning time set to the time of bonus accrual rather than the time of UMI coins deposit. Is this fair?
There was a short delay in displaying transactions in the Personal Account. We can explain this by the fact that the UMI blockchain works much faster than any database, even the fastest one. Before displaying transactions in the ROY Club, the algorithm checked all the transactions in the block, selected the necessary ones, wrote them to the database, processed them with the migration algorithm, and show them on the website. It took some time. It was fair as all members were competing on equal terms.
53. How can the community help the GLIZE price grow? Is it really possible?
Any participant can contribute to GLIZE development. Just tell your friends and acquaintances about the benefits of the new token, build your referral structure and take part in all community activities.
The more people will learn about GLIZE, the more UMI and GLIZE they will buy. They will join the staking, and demand for the token will grow. And high demand will push up the price. In real fact, everything depends on the community efforts.
54. Will there be other tokens based on UMI?
The ROY Club is not planning to create new tokens. However, the situation may change in the future.
We are sure that other developers will use the UMI blockchain to create tokens. The UMI OneApp ecosystem will provide them with the most convenient features.
55. Can GLIZE reduce demand for UMI?
UMI and GLIZE are different products which have different purposes and uses. Since GLIZE is based on the UMI blockchain, it will become an important part of the UMI OneApp ecosystem. The fact that users can buy GLIZE only for UMI proves that demand will only grow.
By migrating to GLIZE and bringing in new members, you increase demand for both GLIZE and UMI.
56. How will the level in the referral program be calculated if users receive 3.33% per day?
Leader ranks are calculated based on members’ virtual balance in the ROY Club Personal Account, their migration reward and early bird bonuses. In other words, the total amount you will receive is taken into account. From the very beginning, all the referral bonuses that you are entitled to are being paid to you.
57. Do you plan to increase GLZ staking rate?
Yes, we do. During the Red Staking phase, the monthly staking reward will grow gradually and can range from 3% to 25% per month. The percentage depends on the total number of GLIZE in staking pool. If the total number of tokens in staking reaches at least 150,000,000, members will receive 25% per month.
There are currently over 20 million GLIZE in the pool. The staking rate is 7% per month. You can view the total number of GLIZE in the pool and the current staking percentage in the ROY Club PA or the UMI blockchain: https://blockchain.umi.top/glize .
58. Do you plan to put up BTC buy wall as the coins are burned?
Yes, we do. We need 211 BTC buy wall to buy out all the UMI coins in circulation. This means thanks to burning, the number of coins in circulation is reducing while the buy wall is growing. We inform about it in the ROY Club news channel:https://t.me/roy_club_news_en/1779.
59. Do you plan to increase GLZ staking rate to 30% per month?
No, the maximum possible percentage of GLIZE staking is 25% per month.
One can earn more than 30% per month on staking but only by using loot boxes. This feature will be added later. Loot boxes will allow you to increase the staking reward and you will be able to earn 5–25% on top of existing percentages.
However, this does not pose any threat to GLIZE, since loot boxes have their own conditions embedded in the GLIZE tokenomics. You can read more about the loot boxes in GLIZE Light Paper:
https://royclub.io/cdn/downloads/corporate-style/glize-eng.pdf
60. Are you going to release an app specifically for GLZ?
GLIZE is integrated into the UMI mobile wallet. Download the application here:
👉 For IOS: https://apps.apple.com/ru/app/umi-wallet/id1527992117
👉 For Android: https://play.google.com/store/apps/details?id=com.umi.umiwallet
👉For Huawei: https://appgallery.cloud.huawei.com/ag/n/app/C104241307
We are not going to develop a separate application. We might do it if the need arises. But now we do not need it. GLIZE is also integrated into the ROY Club and SIGEN.pro applications.
Apple App Store: https://apps.apple.com/ru/app/roy-club/id1498052381
Google Play Market: https://play.google.com/store/apps/details?id=com.roy.royclub
Huawei AppGallery: https://goo.su/40NX
For iPhone: https://apps.apple.com/ru/app/sigen/id1505741102
For Android: https://play.google.com/store/apps/details?id=com.sigen.sigen
For HUAWEI: https://goo.su/4ATb
61. Is it profitable to exchange UMI for GLZ now?
You can generate profit at any stage of migration. The current exchange rate equals the migration rate. But thanks to migration, you were awarded additional bonuses depending on the amount exchanged:
● 2% — at least 500 UMI exchanged.
● 3% — at least 1,500 UMI exchanged.
● 4% — at least 3,000 UMI exchanged.
● 6% — at least 10,000 UMI exchanged.
● 8% — at least 3,000 UMI exchanged.
● 10% — at least 50,000 UMI exchanged.
● 12% — at least 100,000 UMI exchanged.
● 15% — at least 200,000 UMI exchanged.
Thanks to migration, your UMI exchanged for GLIZE are burned, which creates a shortage of coins at the market.
62. Will the GLZ token have more advanced functionality than UMI?
It is inappropriate to compare UMI’s and GLIZE’s functionality. UMI and GLIZE are different products which have different purposes and uses.
UMI is a coin with its own high-tech blockchain, which will serve as the basis for the UMI OneApp ecosystem.
GLIZE will be part of the UMI OneApp ecosystem and will offer users staking, farming, and NFT technology. GLIZE will eventually develop into a large-scale NFT marketplace.
Read more about UMI OneApp: https://umi.top/about .
63. I have referrals but I can’t see the group volume. Why?
After the launch, the group volume is displayed only for those who reach Level 4 in the referral program. Accordingly, if you are not Level 4 member, you can’t see the group volume.
However, we have recently developed functionality that will display the group volume for members of lower levels. It does not affect bonuses, but it can help you monitor the amount of group volume you need to reach to move to the next level.
64. Why am I Level 3 when my balance corresponds to Level 4?
To reach Level 4 and higher, you need to meet the requirements not only for personal balance, but also for group volume. Your referrals are most likely not to have sufficient GLIZE volume.
65. How can I exchange UMI for GLIZE?
1. Create a mnemonic wallet on UMI.top or in the UMI Wallet app, if you don’t have one yet.
2. Find a leader and use their referral link to register in your Personal Account on the ROY Club website: https://royclub.io/. Use a personal UMI address from the mnemonic wallet to finish the registration.
P.S: Read to find out where to get a referral link to register in GLIZE if you don’t have a leader — https://t.me/roy_club_news_en/1644 .
3. Find the UMI address for migration (address for replenishment) in your personal Account.
4. Send your UMI coins to the migration address and receive GLIZE.
You don’t have to join the migration. Instead, you can buy GLZ for UMI on the SIGEN.pro exchange. But keep in mind that you won’t receive large bonuses in this case.
GLZ on SIGEN.pro exchange: https://sigen.pro/trading/GLZ_UMI
66. Why does the personal balance display a smaller amount than that I received?
In case you have recently transferred GLIZE to your balance, it may take some time before the ROY Club Personal Account displays it. Your balance will be updated within a day.
And yet the personal volume takes into account your migration balance + migration bonuses + all the tokens you bought on the exchange and transferred to your staking wallet. But it is also important to remember that a 15% fee is charged for all these transactions. This is why you see the personal balance after the fee is charged. The personal volume can also decrease after you withdraw tokens from the staking address.
67. Why is there no information that you will charge a 15% fee?
We did say about it in the ROY Club official media before the migration. You can also find this information in the main document — GLIZE Lightpaper — https://royclub.io/cdn/downloads/corporate-style/glize-eng.pdf.
Stay tuned to keep up-to-date with the latest information!
68. Is a 15% fee charged on transfers from one staking address to another staking address?
Yes, we do. When you replenish the staking address, 15% fee is charged for any payment. It doesn’t matter what address the tokens came from.
69. Why is the amount credited to the wallet less than the one displayed in the Personal Account? Why are the numbers of migration balance and personal volume different?
Users receive 3.33% of their migration balance per day during 30 days. Tokens are credited to their staking addresses and charged a 15% fee. This is why the amount of migration balance and the actual amount on the wallet differ.
The migration balance is the amount in GLIZE that you will receive after you exchange UMI. For example, if you exchange 80,000 UMI at the rate of 8:1, you will receive 10,000 GLIZE — this is your migration balance. On top of it, you can earn different types of bonuses for migration, depending on the amount you exchange.
And yet the personal volume takes into account your migration balance + migration bonuses + all the tokens you bought on the exchange and transferred to your staking wallet. But it is also important to remember that a 15% fee is charged for all these transactions. You see the personal balance after the fee is charged. The personal volume can also decrease after you withdraw tokens from the staking address.
70. How can I create a signature during registration? I am copying the phrase, pasting it, and see the error “incorrect signature”.
1. You need to copy the signature phrase.
2. Open the UMI Wallet app or wallet on the UMI.top website (https://wallet.umi.top /) in a separate window.
3. Log into your UMI wallet and click the “Signature” button.
4. Paste the signature phrase and generate a signature.
5. Copy the signature generated.
6. Go back to the registration form and paste the signature into the appropriate field.
Please keep in mind that you should use the UMI address, not GLIZE address, for registration.
71. Where are my GLIZE? Why are they displayed in the ROY Club, but I can’t see them in the UMI.top wallet?
The UMI wallet displays the GLIZE you already received. You receive 3.33% of your migration balance per day during the first month. During the second month, you will receive a migration award. In other words, the ROY Club Personal Account displays the total amount you will receive, while the UMI wallet shows the amount you have already received.
You should also keep in mind that tokens are credited to your staking addresses this is why they are charged a 15% fee. That is why the migration balance displayed in the ROY Club Personal Account and the actual amount displayed in the UMI wallet can differ.
72. I lost my password for SIGEN.pro.
Click “Forgot password” to recover your password using your email address. If you have lost your email address, contact technical support service https://sigen.pro/support and restore your account by using a code word. If you forgot the code word, your account cannot be restored.
73. I can’t login to my UMI wallet, it is saying “wrong phrase”.
Make sure that the mnemonic phrase you entered consists of 24 words. Double-check all the words to make sure that each word is spelled correctly. Make sure that there is no extra space or character at the beginning or end of the phrase.
If you are login to the wallet through the UMI Wallet app, make sure that you are using the latest version.
Click here to download the latest version of UMI Wallet app:
👉 For IOS: https://apps.apple.com/ru/app/umi-wallet/id1527992117
👉 For Android: https://play.google.com/store/apps/details?id=com.umi.umiwallet
👉For Huawei: https://appgallery.cloud.huawei.com/ag/n/app/C104241307
74. How do I get my money back, if I mistakenly transferred UMI coins to my referral’s address?
This is not technically feasible. You can contact the referral and ask them to return the tokens.
75. Why does GLIZE OnePager say nothing about a 15% fee you charge for the Bonus Program?
OnePager is a document that gives a brief overview of GLIZE. It says, “Read more about the bonus program in the full version of the Light Paper.” The Light Paper provides a detailed description of GLIZE and the 15% fee.
Light Paper GLIZE — https://royclub.io/cdn/downloads/corporate-style/glize-eng.pdf.
76. I can’t login to my account.
At the moment, you can access only GLIZE Personal Account in the ROY Club. If you can’t login to the GLIZE Personal Account, make sure that you use the correct address of the UMI wallet. You should enter the address which you used to register in GLIZE. Important: use the UMI address, not the GLIZE address, to login to your PA
ROY Club Website — https://royclub.io /.
You won’t be able to login to your Personal Account if you use UMI staking address. They are no longer supported in the ROY Club. As for your coins, they are on SIGEN.pro or in your mnemonic wallet — the address you used to register in the UMI structure. The ROY Club didn’t store the coins.
SIGEN.pro website: https://sigen.pro /.
UMI wallet: https://wallet.umi.top/.
77. Where can I find my UMI coins after my account is deactivated.
In this case, your UMI coins are on SIGEN.pro or in your mnemonic wallet — the address you used to register in the UMI structure. The ROY Club didn’t store the coins.
SIGEN.pro website: https://sigen.pro /.
UMI wallet: https://wallet.umi.top/.
78. How can I transfer GLIZE coins from staking to trading address?
1. Login to your wallet on UMI.top (https://wallet.umi.top /) or to the UMI Wallet app.
2. Open your trading address and copy it (it starts with glz).
3. Go to the staking address which you want to use to transfer GLIZE to your trading address.
4. Enter the trading address and the amount you want to send. Click Send.
79. How can I check my balance?
It depends which balance you want to check :)
● Your total virtual migration balance and bonuses are displayed in the ROY Club Personal Account — https://royclub.io /.
● Your actual GLIZE or UMI balance is displayed in your UMI wallet (on the umi.top website (https://wallet.umi.top /) or in the UMI Wallet app).
● To view your balance on the exchange SIGEN.pro, go to the wallet on the exchange — https://sigen.pro/balance/UMI .
80. Why is the migration balance (body) not displayed in UMI Wallet?
The UMI Wallet displays only the available amount — the amount you have immediate access to.
You receive 3.33% of the body per day. After the body is accrued, you will receive the migration reward on the same principle.
Your total virtual migration balance and bonuses are displayed in the ROY Club Personal Account.
ROY Club Website — https://royclub.io /.
81. What is the “Burn” button in UMI Wallet?
By using burning feature, you can completely destroy UMI coins. They will never return to circulation again. Burning UMI coins means making them unavailable for further use. When you burn coins, you help the UMI ecosystem to create a shortage of coins. Keep in mind you will get NOTHING in return and you must take full responsibility for this decision.
82. How can I deposit GLIZE to staking?
1. Exchange your UMI for GLIZE by sending them to the migration address in your ROY Club Personal Account. GLIZE tokens will be credited to your staking address.
2. Send your GLIZE from SIGEN.pro or the trading wallet to your staking gls-address.
SIGEN.pro website: https://sigen.pro/.
ROY Club Website — https://royclub.io /.
83. Why didn’t I receive referral bonuses?
Referral bonuses are not immediately paid — they are paid after a certain time after payments are made. Please wait until the bonuses are credited to your account.
It’s important to note that since payments to your referrals are made at the rate of 3.33% per day, bonuses are awarded on top of 3.33% per day. Bonuses are credited to your account after payments to referrals are made.
Moreover, you do not receive referral bonuses if you have an insufficient rank in the referral program. For example, if you have Level 4 and your referral is Level 5, you do not receive team bonuses for your referral’s low levels.
Read more about the referral program here: https://royclub.io/referral-program
84. What’s the point of levels? Which level is the highest?
According to the ROY Club referral program, the higher your level, the more bonuses you can earn. The highest level is Level 9. You can see the details of the referral program on the official website: https://royclub.io/referral-program
85. Where can I find information about staking and where is the staking reward credited?
The GLIZE staking reward is credited to your current staking address in real time. You can view the staking reward in your ROY Club Personal Account or in the UMI blockchain: https://blockchain.umi.top/glize.
86. Why are there 3 addresses in UMI.top?
● The UMI address is your main address in the UMI blockchain, where UMI coins are stored.
● The GLIZE trading balance is the address to which the referral program bonuses are credited. When GLIZE tokens are sent to the trading address, the fee is not charged.
● The GLIZE staking address is the address to which GLIZE you received for migration are credited. The staking reward is also sent to this address. When you replenish this address, 15% fee is charged
Thus, you should use the first address to carry out transactions with UMI. If you want to use GLIZE, but not to deposit tokens to staking and lose 15%, use the second address. And if you want to deposit GLIZE to staking to multiply them, use the third address. But keep in mind that you will be charged a 15% fee, which goes towards paying out the referral program.
87. How can I transfer GLIZE from the ROY Club account to another person?
1. Log into your wallet on UMI.top (https://wallet.umi.top /) or to the UMI Wallet app.
2. Go to your GLIZE wallet which you want to use to send tokens.
3. Enter the recipient’s GLIZE address and the amount you want to send. Click Send.
88. What should I do if sent UMI to the ROY address?
It is not technically feasible now.
If you sent them earlier, nothing terrible happened — the coins arrived and you can send them from the ROY address to any UMI address.
89. Why were my GLIZE coins transferred to the structural wallet? They were supposed to be sent to the trading wallet. I sent 799 UMI coins. I didn’t specify anything. According to the rules, if the exchange amount exceeds 800 coins, it is sent to a structural wallet, if it is up to 800 coins, it is sent to the trading address.
No, the amount of up to 800 coins is also sent to the structural address. During migration, all tokens are sent to the structural wallet regardless of the amount you exchange. Only referral bonuses are credited to the trading wallet.
90. Should I burn UMI to reach a higher rank? Or shall I just transfer GLIZE tokens to the trading or staking address? For example, I have Level 2, how can I rise to an upper level? Is burning coins the only way?
The requirements concerning personal and referrals’ balance differ at each level https://royclub.io/referral-program . Only staking addresses are taken into account.
You can reach the required amount of the personal balance in either way: migrate from UMI to GLIZE or buy GLIZE on the exchange and transfer them to the staking address.
91. When are you going to pay out team bonuses? Where can I view them?
Team bonuses paying out is well under way. You can see them in UMI Wallet https://wallet.umi.top /. There are 2 types of wallets — staking (GLS) and trading (GLZ). All bonuses are credited to the trading address.
92. My UMI Wallet was hacked. The attackers transferred all the funds except those you haven’t paid out yet. Can I receive the remaining payments to another address?
Unfortunately, not. It’s not technically feasible now. The only thing you can do in this case is to transfer GLIZE to a new address faster than the scammers.
Also, be sure to create a new wallet and use it for subsequent operations. Read the news and beware of scammers.
93. Why is it that when you are in the wallet you see the staking balance growing, and when you log out and log in again it starts from 0?
GLIZE staking is 7% per month, i.e. 0.22% per day at the time of the article publication. If you have 100 GLIZE, you will receive 0.22 GLIZE.
The staking may not be displayed in real time if the amount is too small. You need to wait a little longer to see the difference. We should also mention that we have added virtual “micro-glize” to the wallet, which allows you to see small amounts growing.
As the number of tokens in the staking pool increases, the staking reward will increase too. Over time the amount will grow faster.
You can view the staking reward and total number of tokens in the pool in the UMI blockchain browser — https://blockchain.umi.top/glize .
94. I exchanged 100 UMI, why they are not displayed in UMI Wallet? You said that they are supposed to be credited right away.
During migration, the amount of up to 100 GLIZE came with delay. The total amount arrived the next day. If you exchange UMI coins today, GLIZE tokens will be credited tomorrow.
However, to avoid ticket fraud and prepare the technical part of the next draw with TESLA, we disabled the option of receiving tokens the next day when the migration amount of up to 100 GLIZE. Now such transactions are credited to the staking address within 10 days.
95. What if I exchange GLIZE on the exchange and send the tokens to the staking address from SIGEN.pro, will the entire amount be sent for staking immediately or will there also be partial instalments over a month? Or is it impossible to send tokens directly from SIGEN.pro to the ROY Club’s staking address?
If you send GLIZE from SIGEN.pro to the staking address, the entire amount will be credited immediately (excluding the 15% fee for the referral program). You can send GLIZE directly from SIGEN.pro to the staking address.
SIGEN.pro website: https://sigen.pro/.
We hope that we have answered all your questions. The list of questions turned out to be quite long. We hope this article will provide you with useful information.