💱Understanding Prize Pool Values and Currency Conversion
This article describes how actual rates of Prize pool on Quest may differ based on market price.
Why Are Prize Pool Values Shown in Fiat Currencies?
At Lunor Quest, most rewards are distributed in cryptocurrencies like USDC or other ERC20 tokens. To make it easier for everyone—especially those new to Web3—we also display an approximate fiat value of the prize pool (e.g., USD, EUR, INR).
This helps participants better understand the potential real-world value of the rewards without needing to manually calculate token prices.
Important: Fiat Values Are Only Estimates
While we display token values in your selected local currency, it’s important to know that:
Crypto prices are volatile. The market price of a token (like USDC or others) can fluctuate slightly over time.
Exchange rates can vary. Fiat conversion rates are based on live or regularly updated market feeds (e.g., CoinGecko, ExchangeRate APIs). They may not match exactly with the rates on a particular crypto exchange or wallet app.
Payouts are always in tokens. You will receive your prize in the specified cryptocurrency, not in fiat (e.g., not in USD or EUR). The fiat amount shown is only a reference to help you understand the value at the time.
Example
If a quest prize pool shows:
“$1,000 USD (paid in 4 ETH)”
You will receive 4 ETH if you win.
The $10,000 USD is an approximate value at that moment (based on exchange rates).
You will then sell this ETH for USDC (or directly to USD) on a crypto exchange
Then convert USDC to USD and withdraw to your bank account.
Here's another example - Suppose a quest shows Prize Pool:
"₹8,50,000 INR (paid in 10,000 USDC)"
This means at that :
You will receive rewards in USDC tokens.
To convert USDC to INR, you need to transfer it to a crypto exchange, sell it for INR
Then withdraw to your bank account.
Why This Matters
We want Lunor Quest to be transparent and beginner-friendly. Showing approximate fiat values makes it easier to:
Understand the size of prizes
Compare rewards across different quests
Make informed decisions about which quests to join
But remember: 🛡 Always consider that actual fiat value can vary slightly when you convert or withdraw your rewards!
Quick Tips
Check the current crypto market rate if you plan to convert your rewards.
Use trusted exchanges or wallets for token-to-fiat conversions supported in your country of residence.
Stay updated on crypto volatility, especially if you are new to Web3!
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