teckel: FAQ
teckel utilizes a “pay for what you use” pricing model. Therefore, we offer our products and services with neither subscriptions nor payments calculated as percentages of revenue generated by using our products or services. teckel never takes a percentage of the underlying asset being traded.
We only charge a small flat fee in the form of ether (ETH) (in addition to but typically much less than the cost of Ethereum gas) for various uses of the teckel Ethereum smart contracts (teckel Ecosystem). In some cases no fee is charged and in other cases, such as bartering, multiple fees are charged.
For using the teckel web3 infrastructure on a “pay as you go” bandwidth and storage basis, payment is made with teckel credits (purchased with ETH); you only pay for what you actually use and the credits are nonrefundable, have no expiration and can’t be used for teckel Ecosystem Fees.
The teckel platform only accepts ETH as payment.
teckel does not offer a free tier due to the fact that we offer our products and services on a “pay as you go” basis, meaning you only pay for what you actually use.
We recommend utilizing the free tiers of other providers until they can no longer support your needs and then reevaluate our offerings at that point in time.
3. What is "Anti Rug Pull" (ARP) technology?
The teckel App automatically forces the user to check that the content of the NFT that they are purchasing or for which they are bartering, is valid and what they expect, before committing to the transaction. In addition to that, the App automatically pins the content of the NFT to teckel‘s web3 IPFS infrastructure to ensure the security of the content before the final transaction takes place.
However, it is up to you to ensure that the pin persists beyond teckel‘s free pinning period by making sure you have adequate teckel credits to pay for prolonged pinning on the teckel platform.
4. What is "Anti Scalper System" (ASS) technology?
The teckel App utilizes a multipronged approach to drastically mitigate or in many cases completely prevent the activities of ticket scalpers, touts, and bots. We recommend utilizing one or more of the following features and techniques within the App for prevention:
- Assign the characteristic of “Transferable Once” to each ticket as they are created (minted on the Ethereum blockchain) — assignment made at time of ticket contract creation. This prevents the transfer of any ticket except for a transfer back to the ticket minter.
- Set the maximum resale price of the tickets to the same price as the original ticket price (or a price close to the original price). This eliminates or deters bots or bad actors from purchasing large tranches of tickets in order to profit by reselling them at higher prices. Maximum resale price can be modified at any time by the ticket contract owner, but only in a positive (increasing) direction.
- Set the ticket creator (minter) commission percentage relatively high providing a disincentive to resell the ticket since a large portion of the sale price would be automatically paid to the ticket creator — set at time of ticket contract creation.
As part of any barter transaction, one or both parties may request an additional amount of ether (ETH) in addition to the other’s respective NFT. We refer to these as “top-up” amounts. The first person to commit to the barter pays the other party’s requested top-up when the NFT is exchanged.
For example, in a prospective barter transaction, perhaps NFT “A” is assessed to be worth 1.9 ETH while NFT “B” is assessed at 2.0 ETH. The owner of A may request a top-up of 0.1 ETH to make up the difference in the assessed values of both NFTs.
If the owner of B decides to execute the barter transaction before the owner of A, the top-up is paid to A. However, if the owner of A decides to execute the barter transaction before the owner of B, the top-up is not exchanged.
In the preceding example found in the above FAQ question, a “Mexican standoff” is the case in which both NFT owners have requested top-ups. The first owner who executes the barter transaction pays the other owner’s requested top-up, but does not in return receive their own requested top-up from the other owner.
For example, in a prospective barter transaction, perhaps NFT “A” is assessed to be worth 3.0 ETH while NFT “B” is also assessed at 3.0 ETH. The owner of A may request a top-up of 0.3 ETH in hopes of making a 10% profit while the owner of B may request a top-up of 0.6 ETH in hopes of making a 20% profit. If owner B executes the barter transaction, they pay owner A’s requested top-up of 0.3 ETH but do not receive any top-up in return.
7. How do I obtain ether (ETH)?
The only prerequisite for using the teckel App for any Ethereum blockchain-based transaction is having some ether (ETH) to pay for Ethereum gas fees. You can typically obtain ETH by accepting it as payment, or by exchanging fiat currencies or other cryptocurrencies for ETH on an exchange like Coinbase, Binance, or one of your choice.
Once you possess some ETH you can transfer it to an Ethereum wallet address of your choice, and to which you have access on the teckel App. You can either import an existing Ethereum wallet address into the teckel App or you can create a new Ethereum wallet address within the App itself.
Note that only newly created Ethereum wallet address private keys can be exported from the teckel App via QR code only.
The teckel App will become available in the Apple App Store if Apple changes their store policy, which is currently incompatible with the teckel business model.
Philosophically speaking, teckel believes that the app user should pay for the usage of software and hardware tools developed by others on a per use basis, and not be forced to share the revenue generated by those tools… basically speaking: “Your revenue, your business.”
The teckel App will become available in the Google Play Store if Google changes their store policy, which is currently incompatible with the teckel business model.
Philosophically speaking, teckel believes that the app user should pay for the usage of software and hardware tools developed by others on a per use basis, and not be forced to share the revenue generated by those tools… basically speaking: “Your revenue, your business.”
No. BUT, if you delete the teckel App data accessible in the Android app manager settings wihout first backing up all of your created and imported teckel Ethereum wallet addresses’ private keys in a safe location not on the device, you will forever lose access to all of the Ethereum assets on your device. This is also the case if you deinstall the teckel App from your device.
No. teckel does not know, handle, or take possession of your Ethereum wallet addresses’ private keys. They are only stored in an encrypted area on your Android device. Furthermore, only private keys generated by Ethereum wallet addresses created on (not imported into) the teckel App may be exported from the teckel App.
Ethereum public addresses are not case sensitive; however, as an added security precaution implemented as an afterthought, Ethereum public addresses can be checksum validated in such a fashion to check for potential human data entry errors. For more information please see:
https://ethereum.stackexchange.com/questions/2045/is-ethereum-wallet-address-case-sensitive
Depending on the wallet from which you are transferring ETH, it may perform this check, thus resulting in a warning. Therefore, please double-check that your Ethereum address is correct before attempting a transfter of ETH. As a best practice, it is always recommended to transfer a small amount of ETH first to verify your address.
13. If I search for a newly created Ethereum Account on etherscan.io will the Account be forever recorded on the Ethereum blockchain even though it has never been involved in any Ethereum transactions?
No. If a newly created Ethereum account has never been involved in any transactions, it does not exist on the Ethereum blockchain. Ethereum accounts only become part of the blockchain once they are used in a transaction (e.g., sending ETH, interacting with a smart contract, etc.).
However, etherscan.io may cache searches for newly generated addresses, meaning that if you look up a fresh Ethereum address, etherscan.io might store that search in its database for a period of time. This does not mean the account is recorded on the Ethereum blockchain—it only exists on the blockchain once it has been used in a transaction.
So, unless you interact with the blockchain using that account, it remains effectively untracked and unrecorded on the Ethereum blockchain.
Yes, but it is not recommended for security reasons. (We recommend ONLY using the “create” function within the teckel wallet to allow the teckel App to automatically generate a completely random private key / public address pair as your new wallet address.) When importing a new Ethereum private key into the teckel App (by first navigating to the wallet icon in the upper right corner of your device screen), you may type in any combination of hexidecimal characters, but the string must be exactly 64 characters.
Ethereum private keys are not case-sensitive because they are simply 256-bit numbers represented in hexadecimal format (64 characters long, using 0-9 and a-f). The hexadecimal system itself is case-insensitive, meaning A-F is equivalent to a-f.
However, Ethereum public addresses (derived from private keys) typically use a checksum mechanism when written in EIP-55 mixed-case checksum format, which is case-sensitive. This helps detect typos but does not change the actual underlying address.
There is a danger in generating your own public / private key pair. For example, in manually entering your own private key, if you make a mistake like a typo, or accidentally type a space or use a public key, etc., you could end up with a new public address that has no associated valid private key and therefore any ether (ETH) or NFT transferred into it would be irretrievable.
It is always best practice to only use a completely random set of characters for your private key! Again, we recommend ONLY using the “create” function within the teckel wallet to allow the teckel App to automatically generate a completely random private key / public address pair as your new wallet address.