Netvrk Staking
Staking Netvrk NFTs is an opportunity for holders to lock in their assets in exchange for various rewards, including a share of the Netvrk Reserve distribution, exclusive NFT airdrops, and invitations to participate in upcoming NFT mints. All NFT holders are eligible to vote in the Netvrk DAO, but staking grants an increased voting power in the governance of the metaverse. Keep in mind that while staked, assets can still be used or rented, but cannot be sold.
To gain access to Netvrk Reserve distributions / rewards, users must stake their Land / Transport NFTs. Below are the Netvrk Reserve staking guidelines:
- The total pool weights of Land and Transport NFTs is calculated at the time of the snapshot. Only wallets that are staked for at least 30 days when the snapshot is taken, and participating in our platform will be part of the weight calculation. We expect the snapshot will take place on the last day of every quarter.
- To be eligible for rewards, users must also meet the participation requirement for each quarter. This requirement may vary and you can read about the current requirement in the #nft-staking channel on Discord.
- Eligible users will receive their rewards via airdrop on the Polygon Network within 5 days of the snapshot. To ensure that rewards are received, users should not unstake their NFTs between the snapshot and the time of the airdrop.
- Only Land and Transport NFTs that have been staked for at least 30 days will be counted in the total weight.
- If you have staked your Land and/or Transport NFTs but do not meet the participation requirements, your rewards will be temporarily held while we investigate other options for qualifying. Please note that our primary concern is maintaining legal compliance and we will not guarantee any changes to the rewards program. Our priority is to ensure the safety and compliance of Netvrk and its community.
- Long-term Holding Multiplier: rewards pool weight multiplies the longer you stake Land and Transport NFTs, starting from 1 month (calculated as 30 days): 1 Month: 1x, 3 Months: 1.1x, 6 Months: 1.2x, 12 Months: 1.3x, 18 Months: 1.4x, 24 Months: 1.5x, 30 Months: 1.6x, 36 Months: 1.7x, 42 Months: 1.8x, 48 Months: 2x. This means the more months you stake your NFTs, the higher your rewards will be.
- Netvrk Bonus Pack Multiplier: Users that hold Bonus Pack NFTs will benefit from a boost multiplier! You will need to stake the Bonus Pack NFT(s) for at least 30 days to be eligible for the Boost Bonus. The first bonus pack will give an extra 10% bonus on the total calculated wallet weight. Bonus Packs number 2–5 give an additional 5% bonus on top for each one. Each additional bonus pack on top of that gives an extra 3% bonus, with a maximum cap of 50 Total Packs, which would result in a 165% bonus. The Bonus Pack boost will be added up after the wallet calculation is tabulated.
Last modified 8mo ago