FAQs

General

Security & Storage

What is a wallet?

A wallet is a digital tool for securely storing and managing various assets and currencies on the blockchain.

Do I have a wallet?

Yes, all accounts on BAXUS have a unique wallet for for storing and managing your authenticated wine and spirits assets on the blockchain.

Where will my bottles be stored?

All assets are stored in BAXUS's secure, temperature controlled and fire-resistant vault.

How do I know it’s safe to buy assets on BAXUS?

We are committed to making buying and selling with us as transparent as possible. Everything we see, you see. All the information we have on an asset is made available to all of our members, even those who don’t buy. We are always here to help, so if you have any questions please don’t hesitate to get in touch at info@baxus.co

Are barrels / casks sold on the platform stored in the BAXUS vault?

No, BAXUS works directly with distilleries or other cask storage facilities for official, safe and secure storage of all barrels.

Are partner assets stored in the BAXUS vault?

It depends! Most partners will store their bottles directly in our vault but other trusted partners may store the bottles on site and the distillery or winery.

How can I be sure that my personal Information is secure?

The BAXUS team does not store any of your personal information other than what you provide in your profile. We only use highly regarded and safe third party for any personal information processing such as credit card payments.

Are the assets secure & maintained?

We prioritize the utmost security, maintenance, and insurance of all platform assets to ensure their protection and long-term value. BAXUS' vaults are insured by Lloyd's of London to provide peace of mind for your entire collection

Where is my barrel/cask stored?

All purchased barrels are stored in a secure warehouse at the distillery or an approved third party facility. Depending on the region, there are different legal requirements and processes in place for barrel owners should they wish to bottle/sell/move their barrel. For more information, please reach out to info@baxus.co

Can I visit/sample my barrel/cask?

Several distillery and warehouse partners welcome personal visits to inspect your barrel, while samples can usually be shipped upon request and on an annual basis for a small fee. For further details, contact us at info@baxus.co.

Payment & Fees

Why are all assets listed in USD?

This is to have one standard currency across all assets (bottles) and ensure that prices are not impacted by the fluctuation of different currencies. We intend to add support for additional fiat currencies in the future.

What fees does BAXUS charge?

Once you have a collection in our vault, intake, storage and insurance is free for your first two years. We charge a one-time fee of $20 per asset for authentication, scanning, and NFT minting. When you sell on BAXUS, we charge a 10% sellers fee with no buyer's premium. Shipping fees and duties are charged only upon redemption.

What currency are the bottles listed in?

Every asset on the BAXUS platform is listed in U.S. Dollars (USD).

Will I receive any monthly statements or end of year tax documents?

BAXUS will not provide monthly tax statements or end-of-year tax documents. It is the user's (your) responsibility individually to comply with your local tax laws and seek professional advice if needed. We encourage you to maintain accurate records and consult with a tax professional for any tax-related matters or questions.

How do I withdraw my money?

We use CoinFlow to securely offramp your USDC into your connected bank account as USD. To connect your bank account and to offramp whenever you'd like, go to your Profile in the top right > Profile details > Billing details. The USD will show up in your bank account in either 3-5 business days, or for a 50 cent charge, within 1 business day.

What payment methods do you accept?

We partner with crossmint.com to securely process your payment, which means you can pay with credit card, ACH, direct wire, Apple Pay, or USDC.

How much is the buyer's fee?

We charge ZERO buyer's fees. The only associated fee with utilizing the BAXUS mareketplace is the 10% seller's fee which is automatically included in the transaction.

Buying & Selling

What is tokenization on BAXUS?

Tokenizing an object is like getting a secure digital ticket that tracks its ownership and provenance. These tokens (NFTs) provide unbroken visibility over their lifetime, publicly following their owner or owners to track provenance and prove ownership. Buying or selling bottles becomes a simple matter of exchanging NFTs, while the corresponding real bottles remain safe in our vault.

How do I list my bottles on BAXUS?

If you are interested in having your assets submitted for authentication, storage, and marketplace listing on BAXUS, please email info@baxus.co with the subject line "Submit my collection".

How do I buy a barrel/cask?

Our users can buy any asset listed on the marketplace. If you have any specific requests or questions as it relates to barrel ownership, you can request a call or email info@baxus.co

How do I receive confirmation of my barrel/cask purchase?

Any bottle or barrel asset on the BAXUS marketplace goes through an escrow period to confirm the successful transfer of funds, once the payment is complete, the NFT (and associated ownership) will automatically be transferred to your BAXUS account and the transaction permanently recorded on the blockchain.

What happens to the NFT and all it's information once the bottle is redeemed?

The NFTs of the associated bottles are frozen so that they can no longer be traded on any platform. All associated information is stored permanently to the blockchain so you will be able to review the infromation associated with each bottle in perpetuity.

When can I trade/resell my barrel/cask?

Once you have the asset in your account, you can relist any barrels that you own for resale within the BAXUS marketplace at any stage.

Do collaboration assets go through the same process as BAXUS vaulted assets?

Yes! Authentication and provenance standards are the same for each and every asset listed on BAXUS.

Cask Ownership

Can I buy a cask?

Yes, you can buy a cask! As a BAXUS user, you have exclusive access to cask ownership through the BAXUS Cask Club, offering you the opportunity to own and experience the world of whisky like never before.

How does the cask club work and what is tokenized ownership?

The BAXUS Cask Club allows users to participate in cask ownership through Tokenized ownership, a simple and secure process of digitizing barrel ownership.

If I buy a cask, where is it stored?

Our affiliated distilleries and barrel warehousing facilities are reliable cask storage partners, ensuring your cask is securely stored in an insured and regulated cask storage space.

Who am I buying the cask from?

At this stage, BAXUS supports Distillery to Consumer sale. Peer-to-peer and fractional cask ownership are coming soon!

Is there a contract involved with cask ownership?

Yes, there is a contract involved with cask ownership. Contracts must be drafted in accordance with relevant state or national laws to ensure security and define the terms of the agreement, providing a transparent and reliable experience for BAXUS users.

How can I assure that my cask is insured if anything happens to it?

All barrels on the BAXUS platform are part of comprehensive agreements that ensure every listed barrel has clear storage terms and insurance for the duration of ownership.

Can I sample the liquid in my cask?

Yes! All distilleries and barrel storage facilities have their own terms (e.g. once per yar) - as they are unique to each facility and brand, those terms regarding sample pulls will be clearly described on each asset.

What does barrel redemption mean?

Barrel redemption means that you are removing the barrel from the BAXUS platform to either 1) bottle it and drink it or 2) to move to a non-supported storage facility.

What if I redeem my barrel directly from the distillery myself?

Redemption and NFT burn is free if the barrel/liquid is taken directly from the distillery. Please note that this option is not guaranteed and it will depend on each distiller or storage facility.

Is there a fee if I decide to redeem my cask?

Redemption fee is 10% if the barrel is removed from the BAXUS platform to store elsewhere or to bottle.

Does BAXUS have a transaction fee?

All marketplace transactions on BAXUS carry a 10% transaction fee paid by the seller (or the redeemer). Buyers who choose to pay with a credit card also pay a credit card processing fee.

What is the BAXUS royalty model?

All original asset listers will earn a bonus 1% from all future transactions fees that occur on the BAXUS platform until the asset is redeemed from the platform.

Are there additional costs for bottling, storage, and insurance during my barrel ownership?

Additional costs for bottling and annual storage/insurance may incur over the length of the barrel ownership at the distillery's discretion. BAXUS will always ensure to be as transparent as possible and for any questions on specific assets that you are holding, please reach out to info@baxus.co

Blockchain

What is the authentication process?

Our team of seasoned whisky authentication specialists inspects each asset to verify its contents and integrity. Only authenticated assets are listed on BAXUS, ensuring the highest quality and confidence for our customers.

How long does it take for my asset purchase to complete?

Once you place an order on an asset, you will have a hold on it until the payment settles. If you pay with USDC or by credit card, the asset will be transferred to your account within 24 hours. Other payment methods may take longer to complete the transfer.

On which blockchain are the All Elements collection NFTs minted?

All Elements collection NFTs are minted on the Solana blockchain.

What does authentication mean?

Authentication verifies the integrity of the packaging and content of each bottle and cask on the BAXUS platform utilizing proprietary technology and human experts to ensure their unique identity and authenticity.

What is the NFT for?

Our NFTs provide indisputable ownership evidence for individual sought-after whisky bottles or even entire barrels of whisky. We meticulously safeguard physical assets in secure storage, whether in our vault, or in a bonded warehouse, while enabling seamless digital trading and collection. Each NFT is distinct, publicly visible, and easily authenticated on the blockchain, preventing replication and counterfeiting.

How do I trade my NFTs?

You can trade any NFTs in your BAXUS account on the BAXUS marketplace at any time simply by listing them for sale.

Do I need a digital or crypto wallet to trade on BAXUS?

No you do not need a crypto wallet to trade on BAXUS. All NFTs are priced in USD and we offer many ways to pay, including credit card, ACH, wire transfer, and crypto.

Can I trade my NFTs on other platforms?

You can trade your NFTs on any marketplace that supports the Solana blockchain. We encourage users who are unfamiliar or uncertain about blockchain technology to remain on the BAXUS platform. We will provide additional information and resources for individuals who are interested in porting their accounts into a traditional Solana wallet such as Solflare, Phantom, or Ledger.

Is redemption guaranteed?

Redemption is guaranteed so long as the redeemer is of the legal drinking age within their country & local jurisdiction, compliant to our Terms and Conditions. If either of the above conditions are not met, or BAXUS is not permitted ship to the designated country or region, the bottle will not be redeemed and the NFT (as well as ownership of the physical bottle it represents) will remain with the holder.

Who owns the assets?

You maintain full ownership of the physical asset and digital NFT representation of it so long as the NFT belongs to your account. Once you list your bottle and it has been sold, the physical bottle now belongs to the owner of the NFT.

Lending

What is BAXUS lending?

BAXUS Lending is a groundbreaking solution that transforms illiquid collections into accessible funds through innovative peer-to-peer loans, backed by the strength of institutional lending facilities. This helps BAXUS users to unlock the value of your collectible bottles and casks like never before, enabling them to access funds while their collections appreciate in value.

Who qualifiies for BAXUS lending?

BAXUS lending is currently in beta testing but we will soon be rolling it out to all qualified users. If you are interested in joining as a lender or as a borrower please let us know here (include form to hubspot)

What assets are featured on BAXUS lending?

Both individual bottles and casks as well as entire portfolios or collections can be listed for asset backed loans. Certain terms and conditions apply.

Who sets the terms for the loans?

Each approved lender has the ability to offer terms against an asset, it is up to the owner of the asset to determine whether or not to accept the loan and the associated loan terms. For more information, please review the relevant lending site Terms and Conditions directly.

What happens if I default on my loan payments?

If you default on your loan payments and do not make the necessary payments prior to the expiration of your grace period, as set forth in the initial and agreed upon loan terms, the asset is transferred into the account of the lender. For more information, please review the relevant lending site Terms and Conditions directly.

Can I trade, redeem, or sell my asset if it has a loan against it?

No, if an asset has an outstanding loan, it is frozen on the BAXUS platform. Only once a loan has been fully repaid can the asset be redeemed, sold, or transformed.

Redemption

What does redemption mean?

Bottle redemption is the requesting the relevant bottle in your account to be removed from the platform. The associated NFT is submited to BAXUS and voided, so it can no longer be traded. The bottles are either shipped or made available for pickup based on the owner's desired method of redemption. Cask redemption will depend on the location of the cask and relevant regulatory and logistic requirements to be completed. Please email info@baxus.co for more information.

Is redemption guaranteed?

Redemption is guaranteed so long as the redeemer is of the legal drinking age within their country & local jurisdiction, compliant to our Terms and Conditions. If either of the above conditions are not met, or BAXUS is not permitted ship to the designated country or region, the bottle will not be redeemed and the NFT (as well as ownership of the physical bottle it represents) will remain with the holder.

What happens to the associated NFT when a set is redeemed?

When a set is redeemed, the associated NFT is frozen and preserved in a permanent digital archive.

How do I redeem my bottles?

You can request any of your bottles shipped to you at any point in time. A 10% redemption fee applies to cover authentication, shipping, and warehousing costs; shipping regulations may apply.

What happens if I want to restore a bottle I redeemed?

If you wish to resubmit a bottle to BAXUS you are welcome to. To ensure the bottle is the same as the original, it will need to undergo reauthentication and grading as well as additional review. You will be responsible for the reauthentication fee but once complete, the original token will be restored (unfrozen) and deposited into your account.

What is the authentication process for restored bottles?

The bottles will undergo the same process as any new bottle to ensure it has not been tampered with while it is outside of BAXUS' custody. It will also undergo another scan to ensure the integrity of the contents and to allow for regrading.

Are there any costs associated with redeeming a bottle?

There is a $20 per bottle shipping & handling fee for each bottle that is redeemed off the BAXUS site. The bottle owner will also be responsible for covering any associated shipping fees and optional but recommended shipping insurance (which is typically 2% of the value of the asset).