Aradena’s Gas-free Off-Chain Staking System
From the 31st of Jan 2022, Aradena NFT holders will be able to claim rewards via our innovative gas-free, off-chain staking system.
The Aradena team has created a gas-free NFT staking system that will check information stored on the blockchain and automatically award points to Aradena NFT holders. Once claimed, points can be exchanged for prizes in our rewards store.
The new staking system is the latest utility of Aradena NFTs to be released. It gives the community a way to unlock value from their NFTs by rewarding early investors for participating in Aradena’s medieval metaverse ecosystem.
What is NFT staking and why are we doing it?
NFT staking is a relatively new method to earn passive income or generate additional value in the DeFi world. It allows NFT collectors to unlock value from their NFTs without having to sell them. We’ve all been there, the need for liquidity reaches us all, but dam, it’s painful to sell an NFT that you love. Staking gives diamond hands a way to generate value from their NFTs without having to sell on the secondary market.
The level of rewards gained from NFT staking varies with each project. Sometimes it’s as simple as an annual percentage yield (APY) payout that’s generated from secondary market sales and royalties. Other times, NFT collectors can stake their NFTs for character upgrades or whitelists spots for additional collections.
The Aradena staking system has a unique set of rewards that match the values of our community. We’ve worked hard for this feature to go live so that we can give our community a chance to earn real value from their NFTs while our play-to-earn game continues to be developed.
A brief overview of Aradena’s staking system
Reward points will accumulate daily and can only be claimed at the end of each month. Your accrued points will be available to claim for 7 days at the end of each period, after that, they will disappear. So make sure you check the website regularly to avoid missing out on your rewards. All you need to do is head to your profile in the ‘Rewards’ section and hit the ‘Claim Points Now’ button.
All Aradena NFTs will generate points for their owners, even if it’s listed for sale. However, if a user sells an NFT during the reward period, then any accumulated points from that NFT will be discarded. The new owner will then start accumulating points for their new NFT from the day of purchase.
Once a user has claimed their reward points, they can use them to purchase prizes from the reward store on our website which will be live at the end of February.
- Aradenean Gold IDO whitelist allocation (60 points = $10 allocation)
- Comic whitelist spots
- Exclusive merchandise
- & new secret prizes to be revealed
A public leaderboard will also show who has claimed the most reward points.
The beauty of our staking system is that anyone holding an Aradena NFT will be able to generate value. However, the more Aradena NFTs you hold, the more value you can unlock. Furthermore, not all Aradena NFTs offer the same rewards. Rarer NFT collections offer the biggest point accumulation potential.
Here’s a summary of what can be accumulated from different types of Aradena NFTs:
Warrior points per day:
- Mighty — 1.2 points
- Heroic — 6 points
- Legendary — 14 points
- Gold background — 4 points
- Silver background — 2 point
- Coin mouth — 3 points
- Coin eyes — 3 points
Comic points per day:
- Common — 3 points
- Rare — 5 points
- Epic — 10 points
- Legendary — 20 points
So to give you an example of how points are collected, owning an epic comic, 2 legendaries and 2 heroics with coin eyes would accumulate 64 points per day (10+(14+4)+(14+4)+(6+3)+(6+3)), giving you 1920 points per month ($320 of gas-free allocation P/M, a pretty good passive income from holding just 5 NFT’s once our IDO launches ). Not to mention the comic whitelist spots and other prizes that will be up for grabs.
How does the off-chain staking system work?
To bring our gas-free, off-chain staking system to life, our dev team created a simple blockchain oracle to monitor Aradena’s blockchain interactions. Our backend servers periodically check the Ethereum blockchain (using APIs) for transactions taking place across the Aradena collections.
There’s a one minute delay between live blockchain events and our oracle knowing about it. This means that our staking system knows exactly who owns what NFT and when a new owner purchases an Aradena NFT, ensuring that the rightful owner accrues the reward points at all times.
Aradena off-chain staking system launch
The Aradena staking system starts on 31st January. If you hold any Aradena NFTs you will automatically start to accumulate points that you can use later on to claim rewards in our rewards store (if claimed).
To claim your points, you’ll need to head over to the Aradena website, go to the rewards page and click on the profile tab. Once there, connect your Metamask wallet by clicking on the ‘Connect Wallet’ button.
After you’ve completed these steps you will be able to see how far into the 30 day period you are, how many points your collection accrues each day, your total claimed points and your total pending points. This will also be where you come to claim your points at the end of each 30 day period.
Summary and links
We’re very excited that our NFT staking system will be live from the 31st of January because it unlocks another way for Aradena holders to generate value from their NFT collection. Whitelist allocation for Aradenean Gold and the comic book is just the beginning of the fantastic rewards that can be gained from staking your Aradena NFTs. If you have any ideas about the types of rewards you think our staking system should payout, please let us know in the #feedback-ideas Discord channel.
Genesis Collection (Men): https://opensea.io/collection/warriors-of-aradena
Genesis Collection (Women): https://opensea.io/collection/women-of-aradena