FAQ's:

About Karate Combat

Karate Combat was born by two fans with a passion for mixed martial arts and technology. Since launch in 2019, our audience has grown significantly, welcoming over four million followers across social media and clocking in over 200 million digital views a month. Since inception, we’ve been thinking of ways to allow our fight community to be a direct part of the action as our athletes compete for glory and honor in the world of karate. This is why we’re embracing the latest advancements in internet-native technology to move league governance to a DAO format and you probably have questions, so let’s address them.

What’s a DAO and why is Karate Combat moving to one?

A Decentralized Autonomous Organization (DAO) is a type of organization that uses computer programs (smart contracts) to run itself. It works without central authority and every decision is recorded on a public database called a blockchain to make it more transparent, efficient, and independent than traditional organizations. Karate Combat will be the first sports league structured to function as a DAO so we can put fans and athletes at the center of decision-making. “Products, orgs and sports leagues built by the community can really live forever. People can’t, companies can’t.” - onlylarping on Across the Karate-verse

What is a $KARATE token and what do I gain from it?

The $KARATE token is the official digital currency in the KarateDAO and it gives a fan the power to vote to support their favorite fighters, vote on upcoming fights, take part in prize pools and join exclusive events via Karate Combat's Up Only Gaming App. We want the league to be steered by the most active, informed fans and the best fighters. To make this happen, we have pledged to give half of all the $KARATE tokens away for free to fans and athletes via airdrops and special giveaways. Sign up here to get access.

How do I get $KARATE tokens?

There are a few ways to get $KARATE tokens:
• Collect $KARATE tokens via an airdrop (if you haven’t signed up for them, do it here)
• Enter a claim code from one of our campaigns when available
• Transfer $hedera-KARATE from another wallet or exchange
• Vote in an upcoming match and if your selected fighter wins, you will automatically win $KARATE (there's no penalty or loss if your fighter doesn't win)

What is a token airdrop and how does it work?

Tokens give fans governing power in KarateDAO so we've pledged to give half of all $KARATE tokens away for free to our community. We’ll do that via an airdrop - it’s an efficient and direct deposit of $KARATE tokens into your wallet. We have a few planned throughout the year - sign up here so you don’t miss the next airdrop!

Glossary:

Recovery phrase

Also known as a seed phrase, is a series of words used to recover or restore your cryptocurrency wallet. The phrase typically consists of 12-24 words and can be used to restore your wallet if you forget your password.

Smart contract

Computer programs capable of automatically executing transactions based on predefined rules. Once the conditions of the contract are met, the contract will execute without the need for any human intervention, intermediaries increasing transparency.

Hedera

Hedera is a new type of blockchain technology that aims to provide a more secure, fast, and fair platform for decentralized applications and digital assets. It differs from Bitcoin and Ethereum in algorithm to be more efficient and secure. Learn more here.

MetaMask

An easy to use and popular cryptocurrency wallet where users can create and manage Ethereum accounts, store and send Ethereum and other ERC-20 tokens, and interact with decentralized applications (dApps) that run on the Ethereum blockchain. Learn more here.

Gas fees

Refers to the cost of performing a transaction or executing a smart contract on a blockchain network because it requires computational resources, such as processing power and storage space.

Tokens

Are digital assets issued and managed on a blockchain network. Tokens are often used to represent resources such as currencies, or utility in a decentralized application (dApp) like the UP ONLY GAMING App that allows you to vote on fights.