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Tibia Token "How To" and FAQ
Oct 09 2024 CEST

able of Contents


Overview

FAQ

 

Overview

How to convert Tibia Coins into Tibia Token

Please be aware that this information is not a detailed guide for the process but an overview of the topic. Some details may also change before the feature is officially launched.

  • In the Account Management area on the Tibia website, you will find the new section "Tibia Token Exchange". 
  • Clicking on the "Exchange" button will direct you to a submenu featuring an information box with key points. This box explains that transactions are carried out on the BNB Smart Chain and highlights the importance of participants educating themselves about blockchain technology, as exchanging Tibia Tokens is entirely the player's responsibility. CipSoft does not cover any blockchain fees or assume liability for transactions. Furthermore, players must enable two-factor authentication, have a digital wallet, and maintain sufficient Binance Coins (BNB) to cover the gas fees for exporting or importing on the BNB Smart Chain.
  • When you click the "Connect Wallet" button, you link your digital wallet, activating the options to export and import. You can switch between these options using a dedicated toggle button. This section also provides a summary of essential details about exporting and importing, including a comprehensive breakdown of the transaction fees charged by CipSoft. Upon clicking the "Export Coins" button, a notification window will appear displaying the gas fees. If you opt to "Reject," the transaction will be cancelled and no fees will be charged. Selecting "Confirm" will proceed with the transaction. Note: The minimum export amount is 100 Tibia Coins.
  • After confirming the transaction, there is typically a brief waiting period of a few seconds. Once the transaction is confirmed, the Tibia Coins are deducted from your account and the corresponding tokens are credited to your wallet.
  • The import process is very similar. All you have to do is switch the toggle button to import, enter the number of Tibia Coins you wish to receive in exchange for Tibia Tokens, and click the "Import Coins" button.

  • Following the display of gas fees and your confirmation of these fees, the transaction completes. Again, transactions on the blockchain and verification on our side can take a few seconds until completion. The Tibia Coins are then added to your account, and the Tibia Tokens are deducted from your wallet. Note: Unlike exporting, importing only involves gas fees and does not include any fees from CipSoft.
  • In the "Transaction History" section, players can review their full transaction history, which displays the date, amount of Tibia Coins or Tibia Tokens, and the status of each transaction. This ensures transparency and tracking of all transaction activities within your account.

 

FAQ

What is it all about?

The new feature "Tibia Token Exchange" will be introduced to the "Account Management" page of the website, allowing players to exchange Tibia Coins for Tibia Tokens and vice versa.

When will this new feature officially launch?

We plan to release the feature in 2024 and we will announce its availability on the official Tibia website. There is currently also a beta phase planned for the introduction, in which the fees charged by CipSoft will initially be reduced.

What is a Tibia Token? 

Tibia Tokens (TIB) are ERC20 based tokens on the BNB Smart Chain. They can be acquired by converting Tibia Coins via the "Tibia Token Exchange" section on our website.

What is the official abbreviation for Tibia Tokens?

The official abbreviation for Tibia Tokens is TIB.

What are the requirements to exchange Tibia Tokens?

To exchange Tibia Tokens, players must have a verified, registered account with two-factor authentication enabled. A digital wallet with sufficient BNB to cover transaction gas fees is necessary. Adequate Tibia Coins must also be available to meet export fees and the minimum export amount is 100 Tibia Coins.

What are the fees associated with exchanging Tibia Tokens?

When exporting Tibia tokens, CipSoft will charge a fee in Tibia Coins. The exact amount has not yet been determined. Small gas fees (usually about 1 to 2 cents per transaction) from the blockchain apply to both exporting and importing but are the only costs during imports.

What is the conversion rate from Tibia Coins to Tibia Tokens, and can this rate be changed?

The conversion rate from Tibia Coins to Tibia Tokens is set at 1:1. In very rare instances, this rate may be adjusted. Any changes would be communicated to players well in advance.

Does the introduction of the new feature comply with legal standards?

Yes, legally, the new feature complies with all relevant laws and regulations.

How will the new feature affect Tibia’s in-game economy?

We anticipate stability within Tibia's economy as Tibia Tokens are backed by Tibia Coins, providing a stable underlying value despite the typical volatility of the crypto market. That said, there is no possibility to mine Tibia Coins or Tibia Tokens.

Will the new feature have an impact on future Tibia game content?

No. Future updates, mechanics, and features in Tibia will be developed independently of the Tibia Token system, ensuring the game's core values are preserved. This commitment to maintaining the essence of Tibia is unwavering. The new feature will be accessible solely through the "Account Management" page on the website and will not be integrated into the game itself. Essentially, this new feature is an optional addition that operates independently of ongoing game developments.

Will CipSoft provide support or advice to players regarding exchanging Tibia Tokens?

CipSoft does not offer support or advice for exchanging Tibia Tokens. Anyone participating in these exchanges does so at their own risk.

What happens if Tibia Tokens are lost due to a crypto wallet hack or fraud?

No compensation or insurance is provided for losses due to wallet hacks or fraud; players exchange at their own risk.

How will the game ensure the security of transactions?

The export of Tibia Tokens and the import of Tibia Coins via our website are secured similarly to the purchasing of Tibia Coins, ensuring reliable and safe exchanges. Of course, this is not valid for transactions involving Tibia Tokens that take place outside of the website.