ðĨĐStaking-Hub
Make your NFTs work for you! Each supported NFT that you stake will generate utility token rewards for you to claim!
Last updated
Make your NFTs work for you! Each supported NFT that you stake will generate utility token rewards for you to claim!
Last updated
The Staking-Hub is one of the foundational mechanisms of our ecosystem, and the strongest value proposition of its GameFi. Every member can start their journey by engaging in the staking process, which offers $HEXO utility tokens as the first rewards for the supported NFTs they hold.
Any user who has supported NFTs can start to generate rewards
Staking process is non-custodial; NFTs never leave holder's wallet
Members can receive $HEXO as daily rewards
Owning a Land NFT unlocks 100% rewards potential
Collections can have reward multipliers based on the number of votes
Collections with 250k+ votes receive additional utility in Gold Rush
Collections with 1m+ votes receive extra utility in Gold Rush
Staking-Hub currently supports only projects on the Cardano blockchain.
Create an account on the Kingdom App
Move to My Account page and link all your wallets
Wait for wallet sync to end
Move to Staking page and see your available rewards in My Stake section
[Optional] Vote for your favorite projects with$EXO so they move up the Leaderboard to start generating rewards or increase their bonus multiplier
You will receive $HEXO rewards the next day in your Account Balance
Any NFT Project can taking part in our Staking-Hub by simply submitting an application in our Discord. Once a collection has been added, the collection will become eligible for staking and will appear on the leaderboard under its project name. The system will automatically determine the reward potential of any NFTs in the collection using the equation seen further below.
Joining the Staking-Hub is free and the Cardanolands team is actively inviting new projects. Today, more than 1,200 NFT collections are already participating in the Staking-Hub.
In order for NFTs belonging to a collection to begin generating daily rewards, the collection must reach a certain number of votes. Anyone can contribute votes, whether its the owner of the collection or a simple user.
The larger the vote total a project has, the bigger the rewards bonus it receives. Collections that manage to attain enough votes to achieve a new rank automatically level up and receive new bonuses starting from the next round. Here you will find a rewards table based on the achieved amount of votes:
1-10 Rank
dynamic
Eligible for daily rewards
High League
250,000
Grants access to mine rewards constantly with calculated Mining Power.
1.5x Multiplier
500,000
Increase Mining Power for x1.5.
1.75x Multiplier
750,000
Increase Mining Power for x1.75.
2x Multiplier
1,000,000+
Increase Mining Power for x2.
The staking process is divided into rounds that repeat on 14-day timeframes. After each round, the system makes a snapshot of the vote distribution. When the snapshot is taken, all qualified collections with enough votes will mine rewards, based on their rank for the next 14 days. This process is followed by the next round during which users may vote for the next distribution of collections in the leaderboard. Rinse and repeat.
In order to get staking rewards, NFTs must be in the user's wallet for 24 hours
Project owners can ask to add several policies ID under their Project
In order for a project to be added to staking, it must have at least 1 collection minting/minted
3rd party marketplace wallets, and other wallets that do not hold NFTs as their OWN property, or wallets made for âburningâ purposes can be excluded from gaining rewards by CardanoLands team discretion
The mining power of a collection is increased parallel to the number of unique holders. Distributed rewards range from 0.1 up to 20 $HEXO per day. The following formula explains the calculation process for the mining power of each NFT collection:
Const() = Constant value (can be changed later by team decision)
Supply = Collection supply by policy ID
Holders = Collection holders amount by policy ID
MP(NFT) = Mining Power per single NFT
To participate, users simply accumulate the desired amount of $EXO tokens in their account balance and then apply them as votes to their favorite projects: 1 $EXO = 1 vote. If they do not have enough available $EXO on their account balance, they'll need to deposit it from their crypto wallet. Votes can be converted back to $EXO at any time!
The amount of $HEXO that is distributed daily is tied to the ratio between collection supply and amount of holders. This amount is called - Mining Power.
