Claim And Redeem Rent
Last updated
Last updated
Once users purchase property tokens, they can claim and redeem rent in real-time, with earnings accumulating every second.
In this tutorial, we will guide users through the steps to claim and redeem rent. Start by selecting the "Claim/Redeem Rent" option on the 0xequity App's main page.
Users can see the available rent to claim here
When the user clicks on the "Claim" button to initiate a transaction, a request popup will appear, prompting the transaction process.
After granting permission for the transaction, a modal will appear displaying the transaction overview. It provides details about the network, the property from which rent is being claimed, and the tokens being received.
Network: The blockchain network from which the user is sending cryptocurrency.
Claim Rent: Displays the property for which the user is claiming rent.
Receiving Value: Indicates the amount the user will receive.
Click on the "Confirm" button to complete the transaction. Now you can see the transaction is completed.
After you claim your rent, you'll receive a yield NFT. This NFT shows how much rent you've earned from a particular property. However, you might have to wait for up to two weeks before you can exchange this NFT for an actual USDC.
Once the waiting period is over, you can redeem the NFT. In this demo, the NFT is named "Yield #12." To get the USDC from this NFT, you'll need to click the "redeem" button.
NFT: Represents the NFT the user receives after claiming rent.
Amount: Denotes the value the user will receive upon redeeming the NFT.
When the user clicks on the "Redeem" button to initiate a transaction, a request popup will appear, prompting the transaction process.
Once permission is granted for the transaction, a modal will pop up showing an overview of the transaction. This overview includes information about the network, the property from which the rent is being claimed, and the tokens being received.
Network: The blockchain network from which the user is sending cryptocurrency.
Redeem Rent: Displays the property NFT for which the user is redeeming rent.
Receiving Value: Indicates the amount the user will receive.
Click on the "Confirm" button to complete the transaction. Now you can see the transaction is completed but can see the transaction details from the "View Transaction" option.
We have now successfully redeemed our rent and received USD, which is reflected in the balance of our wallet.
