New users will be provided with a wallet ERC20 wallet in which they can deposit ETH and swap to MNB coin if required. This wallet is decentralised, meaning that no central entity holds neither its keys nor the tokens inside the wallet. However, it is the responsibility of the user to protect the keys and the responsibility of the distributed network to make it possible to transfer tokens from the wallet to another one and receive tokens, for instance. Of course, the wallet belongs to the user and cannot be accessed by others.
To create a wallet, the user must input their email address and password during the registration phase, confirm on the next screen and verify by clicking on the unique link sent to the email. After the email is verified, the user will need to back up their wallet. The app will create a 12-word secret phrase. It must be saved to a password manager or written down and stored in a secure location. If the password is forgotten, the secret phrase will be used to recover the digital wallet, if this phrase is forgotten or lost it will be impossible for you to recover your wallet. Now that the wallet and backup are created, the user can choose to log in to the app using facial recognition or fingerprint.
The app will also grant users a spending wallet, this is where transactions such as upgrades, repairs and mining revenue are credited/debited. The spending wallet functionality will ensure that no gas fees are payable when transacting within the app. Users will be able to transfer MNB from their spending wallets into their ERC20 wallet thus introducing their MNB to the Ethereum chain. The reverse is also possible, ERC20 MNB can be transferred from a users ERC20 wallet into their spending wallet.
Important: ERC20 MNB transactions will only take place when a user transfers MNB from their spending wallets to ERC20 wallets, all transactions that occur within the spending wallet are not executed on the blockchain, if they were the gas prices would unsustainable.
The mineable app will also utilize a swap function which is powered by Uniswap. This will allow users swap MNB tokens for ETH. Uniswap pays liquidity providers a 1% fee on all swap transactions.