What is Audius (AUDIO)?
Audius is carving out a space in the crypto realm by harmonizing music and blockchain technology. The project is seeking to empower musicians and artists while redefining how music is created, distributed, and experienced. Audius operates as a Layer 2 blockchain protocol, initially launched on an Ethereum sidechain named POA Network. However, due to the growing demand for content streaming, Audius encountered scalability challenges and made a strategic move in 2020 to transfer its content management system to the Solana blockchain, aiming to enhance overall performance and scalability.
Notably, the platform's native cryptocurrency, AUDIO, is an ERC-20 token and remains based on the Ethereum blockchain. AUDIO grants token holders the ability to actively participate in voting processes related to network adjustments and improvements. Additionally, those who stake their AUDIO coins gain access to exclusive platform features as part of their staking rewards. Learn more
How to Deposit AUDIO Into Your Coinmetro Account
For all information on how to deposit AUDIO into your Coinmetro account, please see the following help center article: How to Deposit AUDIO.
As Coinmetro uses smart contracts for Ethereum and ERC-20 token deposits, the amount of gas required is slightly higher than a typical transfer. To be sure that your transaction is successful, please set the transaction gas limit to 55,000. The fee difference is minimal. If your gas limit is too low, the transaction will simply be rejected by the Ethereum network. There is no risk of loss of assets caused by a too-low gas limit.
If you're depositing from another exchange, it is important to ensure they support sending funds to ETH contracts or using a full ETH wallet as an intermediary.
How to Withdraw AUDIO From Your Coinmetro Account
For all information on how to withdraw AUDIO from your Coinmetro account, please see the following help center article: How to Withdraw AUDIO.
Important Note - To request a withdrawal, your account profile needs to be verified as well as having the funds to cover your withdrawal. The first time a withdrawal is made to a destination, the destination needs to be confirmed via e-mail. If you have 2-Factor Authentication enabled for withdrawals, you will be asked to input the code for each withdrawal, approved or not. We suggest enabling 2-Factor Authentication to protect your account.
Withdrawals waiting for approval can be canceled and the withdrawal status can be found by selecting the Wallet on your Coinmetro Dashboard. Please note that already-approved withdrawals cannot be canceled. If there is no Cancel button visible, this unfortunately means the withdrawal can no longer be canceled, and you will find a transaction ID (TXID) instead. This is a link to the relevant transaction hash on a Blockchain Explorer website where the status can be checked further.