Contender I Pool
All about the Contender Staking Pool.
Last updated
All about the Contender Staking Pool.
Last updated
The Contender Pool I is the first pool available in the Lympo NFT Staking. The size of the pool is 810,000 $SPORT.
1 wallet will be able to stake up to 15 Lympo NFT cards in this Pool. Users do not have to fill out all 15 slots to start staking: any amount of cards can be staked (15 being the maximum). Only Lympo Athlete NFT cards can be staked in the Contender I Pool.
To ensure a fair ecosystem, users will have to stake NFTs of different rarities. Meaning that 1 wallet will only be available to stake up to 5 high-rarity NFTs (GOAT, Legendary, or Epic), while the other 10 will have to be of a lower rarity (Rare, Uncommon, or Common).
The amount of $SPORT that can be staked is determined by the rarity of staked NFTs — higher rarity NFTs allow users to stake more $SPORT.
The minimum amount of $SPORT required to stake is 2000.
*In this example, if you would stake 10,000 $SPORT together with your NFTs, you would earn a 5% reward of the staked amount every 30 days. That means after 30 days, you would have accumulated 500 $SPORT as a reward for participating in the Lympo NFT Staking ecosystem, and you would own 10500 $SPORT in total.
The Contender I Pool requires to stake NFTs for at least 72 hours. If NFTs are unstaked before that time, a fee of 1% will be applied.
More staking pools will become available in the nearest future. Namely, two new pools — Champion and Trophy — will be added soon.