Withdraw your earnings to USDC

Understanding Your Contributor Earnings

When you contribute to the platform—by sharing your API key or participating in the contributor program—you earn a share of the revenue generated from your contributions. Your earnings accrue in your account balance, which tracks the USDC value you've earned. The platform credits you at a rate tied to the official API price: standard contributors receive a premium multiplier, while premium contributors receive an even higher multiplier. This balance represents your claim on future USDC withdrawals.

From Balance to USDC Withdrawal

Your contributor earnings are denominated in USDC, the stablecoin used across the platform. When you request a withdrawal, you're converting your platform balance into USDC on the Base network. This process is designed to be straightforward and permissionless—no KYC required. The key steps are:

• Accumulate earnings: Your balance grows as your contributions are used.
• Initiate withdrawal: From your dashboard, request a withdrawal to your connected wallet.
• Approve transaction: You'll need to approve the withdrawal transaction from your wallet, which may involve a gas fee on Base.
• Receive USDC: Once approved, the USDC is sent to your wallet address on Base.

The Approval Step

Because withdrawals involve transferring USDC on-chain, you'll need to approve the transaction using your wallet. This is a standard blockchain interaction: you sign a message or transaction that authorizes the platform to send the specified amount to your address. The approval ensures that only you can initiate the withdrawal and that the funds go to the correct destination. Make sure your wallet is connected to the Base network and has a small amount of ETH for gas if required.

Withdrawal Fee

A small withdrawal fee applies to cover the transaction costs and platform operations. This fee is deducted from the withdrawal amount, so you'll receive slightly less than the requested balance. The fee is kept minimal to ensure that contributors retain the majority of their earnings. The exact fee may vary based on network conditions, but it is always disclosed before you confirm the withdrawal.

Why USDC on Base?

USDC is a stablecoin pegged to the US dollar, providing a stable store of value for your earnings. Base is a low-cost, Ethereum-compatible network that enables fast and inexpensive transactions. By using USDC on Base, the platform ensures that contributors can access their earnings quickly and with minimal overhead, without the need for traditional banking or KYC processes.

Best Practices

• Double-check your wallet address: Ensure the address you provide is correct and on the Base network.
• Keep gas in mind: Although Base has low fees, you may need a small amount of ETH for gas when approving transactions.
• Withdraw when convenient: There's no rush; your balance remains in USDC terms, so you can withdraw whenever you prefer.
• Monitor fees: While small, withdrawal fees can vary; check the current fee before confirming.

Conclusion

Converting your contributor earnings to USDC is a simple, permissionless process. By understanding the approval step and the small withdrawal fee, you can smoothly access your earnings on Base. This system aligns with the platform's goal of providing open, efficient access to AI models while rewarding contributors fairly.