Sending funds or NFTs to the wrong address or smart contract wallet can be a frustrating experience. Unfortunately, due to the nature of blockchain technology and the design of JPG Store’s smart contracts, these transactions are often irreversible.
Here’s what you need to know if you’ve encountered this issue.
What Happens If I Send Funds or NFTs to a Smart Contract?
If you mistakenly send funds or NFTs to a smart contract wallet:
Non-Retrievable Assets: Due to the non-custodial nature of our smart contracts, JPG Store does not have access to NFTs listed on the marketplace or funds manually sent to our smart contract wallets.
No Connection to Actions on JPG Store: Manually sent funds or NFTs are not tied to any specific actions or transactions within the JPG Store marketplace.
Security by Design: This system is designed as a security measure to safeguard user assets, ensuring that only authorized transactions interact with the marketplace.
⚠️Unfortunately, this means any funds or NFTs sent manually to our smart contract wallets cannot be recovered.
What Are Smart Contracts?
Smart contracts are automated programs that operate on the blockchain. They execute transactions based on pre-defined conditions and rules, often expressed as "if this, then that" logic.
Here’s how smart contracts function within JPG Store:
They enable the purchase and sale of NFTs and other features such as lending & borrowing.
They enforce rules to ensure that transactions occur securely and transparently without requiring manual intervention.
While these contracts provide security and efficiency, they cannot retrieve mistakenly sent funds or assets due to their immutable nature.
How Can I Prevent This?
To avoid losing funds or NFTs, follow these precautions:
Always Be Careful When Sending To An ADA Handle
Do not send NFT's or funds to an ADA Handle listed on the marketplace. Transactions should always occur through the proper interfaces provided by JPG Store.
Double-Check Addresses
Before sending NFTs or funds, verify the destination address multiple times.
Ensure the address is accurate and corresponds to the intended recipient.
Be Cautious With Manual Transfers
Avoid manually entering addresses whenever possible. Use QR codes or copy-paste functions to reduce the risk of errors.
By practicing these safety measures, you can minimize risks and protect your assets on the blockchain.
