NFT Staking Functionality
An article about how the Lympo NFT Staking works.
The Lympo NFT Staking Platform will function as follows:
Users select the Lympo NFTs they want to stake and the pool they want to stake in. If users own duplicate NFT cards, each of them can be staked as a separate card. If the NFT card is staked in one pool, it cannot be staked in other pools at the same time.
Each NFT card has a different reward score associated with it depending on its rarity and the rewards the user will receive are based on the score/rarity of the card.
Each Staking Pool is unique - some utilize and reward $SPORT token only, others use a mix of $SPORT and partner token.
Each staking pool may have different rewards, prerequisites, and staking periods associated with it.
Example of NFT staking pool
Users can start staking with as minimum as one NFT card, depending on its rarity. The maximum cap is defined by the selected pool.
GOAT NFTs have a bonus staking reward depending on the price for which that NFT was sold. The reward is encoded within the said NFT.
Once the NFT is staked, reward calculation begins. The rewards are calculated by second and can be collected anytime. Depending on the pool, unstaking fees might apply.