🥩Naru Staking
Last updated
Last updated
THIS FEATURE WAS RELEASED 15TH MAY 2022
Naru digital collectibles from the 10K PFP and Seasonal 10K collections can be staked in The Village webapp powered by Cardano smart contracts, locking them away for a period of time, with a $Yummi token reward being sent at the end of the staking period. The amount of tokens you receive is proportional to the rarity of the item attributes of the staked collectible.
You can stake your Naru for $Yummi rewards on our webapp. Rewards are shown as the amount per selected time period.
Staking through smart contracts means that your Naru will not be visible in your wallet (Eternl, Nami, Daedalus, etc.), nor on pool.pm while the staking period is underway. However our website allows you to see all Naru that you have currently staked, as well as an overview of which Naru other users of The Village currently have staked.
At first, an estimate of 50,000,000 tokens will be distributed on a monthly basis, split between 80% for 10K PFP Naru and 20% for Seasonal 10K Naru. This amount will decrease slightly each month as other features get implemented into The Village webapp and P2E game.
As mentioned before, the collective rarity of the headwear, body and face attribute will make up the total staking reward of a Naru. There are a total of 10 rarity ranks that items will fall into. The rarity rank of each attribute determines the multiplier that the attribute adds to the total staking reward. The higher the rank of an attribute, the higher the reward percentage will exponentially increase.
You may choose how long to stake your Narus from 3 different options. Narus being staked for longer periods will receive an increased amount of $Yummi as a bonus.
When the staking period is over, you will automatically receive the $Yummi reward in the same wallet you used to sign the staking smart-contract. You will get the exact staking reward that was signed in the contract, even if the staking rewards was changed during the staking period.
A full index of staking rewards for each Naru can be found at Yummi Universe - Staking Webapp. The rewards depicted are in the timeframe of the selected period.
Narus from the Naru Seasons will receive a large increase in rewards earnt during the season they are a part of. Each year will be divided into 4 periods, one for each season to receive much higher staking rewards.
We want Seasonal 10K Naru to have a diverse set of traits overall to make the collection more interesting, and to do this we have developed the staking rewards in a way that encourages burning Naru from the season with the most Naru, to balance out the number of Naru from each season.
If you don't wish to burn your Naru, you can still get increased staking rewards if others decide to burn Narus with the same items as yours.
The rewards have been calculated to ensure that the total staking rewards don't exceed our allocated $Yummi for staking in our Tokenomics.
We will initially allocate 40,000,000 $Yummi for the staking of 10K PFP Naru, and 10,000,000 $Yummi for the staking of Seasonal 10K Naru each month, meaning only a maximum of 50,000,000 $Yummi can be distributed via staking rewards each month.
We have allocated 10,000,000 $Yummi maximum per month to Seasonal 10K Naru rewards from the launch of staking, however to achieve that number we will need to adjust the rewards after each burn event*. This is to account for lower rarities leading to higher rewards, in order to ensure that the distributed $Yummi doesn't exceed the allocated amount.
Any rewards allocated to Naru that are not staked by the end of the month will be returned to the treasury.
*Update: Seasonal 10k Naru collections have all finished being minted. Baseline rewards have been adjusted to ensure the combined rewards total the full allocation of 10,000,000 $Yummi.
