NFT Staking
Staking & Leveling up your NFT!
Got any NFT just rolling around in your Wallet? Generate rewards and profit by staking NFT or level them up to upgrade your NFT collection.
NFT staking on the MBX NFT platform extends the life of NFT asset value and allows it to expand into the external environment. NFT staking allows users to stake NFTs and in return earn staking reward tokens assigned to that NFT.
NFT Staking v1
Definition
Similar to mining rewards in each Token ID, the reward claiming period is determined by the reward and APR (%) of the selected Token ID. Reward delivery is based on the formula. Supports Boost APR and level-up features.
Policy
[Staking]
Staking available for each collection
Total NFT Staking volume per collection is limited to 200ea for each account, but the maximum number of NFTs that can be staked per action is 160ea.
Additional NFT can be staked during NFT Staking
No gas fee or staking fee is applied
[Unstaking]
It is possible to unstake any staked NFT by selecting them individually
No gas fee or other fees are applied when unstaking. Instead, a cooldown duration occurs when unstaking is requested. Once the duration is over, requesting unstaking returns the NFT to user's wallet
*The cooldown duration varies for each collection and may be subject to change depending on operational circumstances
[Staking Reward Formula]
[Boost APR]
Boost APR refers to the act of staking Tokens to reduce the time it takes to receive the reward for any staked NFT.
It also refers to the speed of the Base APR configured for the NFT when only staking NFT.
1-epoch equates to 1 reward. Increasing the APR value increases the amount of reward per 1-epoch
<Rules>
APR value can be increased by staking APR Tokens. The increased value may vary depending on the Boosting Efficiency of each collection.
Boost APR does not increase the total mining reward. The currency used for Boost APR is identical to the Staking Reward.
Additional Boost Staking is not possible when boosting APR. In order to add more volume to Boost Staking, the user must unstake the original amount and restart the Staking process with the new amount.
Unstaking causes a cooldown duration to occur. Boost APR does not apply during this time.
*The cooldown duration varies for each collection and may be subject to change depending on operational circumstances
When staking multiple NFT, the Boost APR applies to all staked NFT equally. It is not possible to apply the boost to specific NFT.
[Claim Rewards]
Claim Rewards refers to transferring rewards acquired from NFT Staking to a user's wallet.
Claimable Rewards: Rewards acquired through NFT Staking. When claimed, it displays the amount (before fee deduction) of Tokens transferred to user's wallet
Total reward: Reward status of all staked NFT. Total reward = {Mineable Reward} / {Staking Reward}
Claim Fee: A 2.5% fee that is deducted from the Claimable Rewards before the reward is delivered to user's wallet.
<Rules>
Unstaking all staked NFT will cause the user to forcibly claim all accumulated rewards.
[Info]
Includes details about NFT available for staking, staking status, and rewards for each Token ID. Users may view other user's Token ID or staking details as well as their own.
Mineable Reward: The amount of rewards that can be claimed at a certain point for each Token ID Mineable Reward = (Staking Reward)-(Amount of claimed reward)
Staking Reward: Initial amount of rewards distributed for each Token ID
*When NFT levels up, the amount of Staking Reward and Mineable Reward adjusts itself according to the NFT's level.
Base APR: The base mining efficiency. It is used for the Staking Reward Formula.
Staking Status: Displays the current staking status.
[NFT Level Up]
Level up may proceed only when a Token ID has met the level up requirements.
By obtaining all Staking Rewards, an NFT's experience will reach 100%. This is one of the requirements that allows it to level up.
It is possible to increase the Staking Reward limit by making an additional level up payment.
NFT level-up cost and Staking Reward distribution varies for each collection. Details can be found at the corresponding website, white paper, or gitbook.
NFT can only be leveled up one at a time.
NFT Staking v2 (2024.03 ~ )
Compared to NFT Staking v1, the main changes in NFT Staking V2 are as follows:
Boosting the staked amount wihout unstaking
The NFT Staking service supports the token boosting feature to improve the staking APR. In NFT Staking v1, users had to unstake and re-stake boosted tokens to boost APR and then re-stake tokens for further boosting. However, with v2, we've addressed this inconvenience to allow users to stake additional boosting tokens directly without unstaking the existing staked tokens.
Level up changes
In NFT Staking v1, a fixed amount of MBX was paid as a level-up fee for mined NFTs. However, in v2, the payment token for the level-up fee will be changed from MBX to a native token such as KLAY. The level-up cost is based on the price of MBX, and the amount of KLAY is calculated based on the ratio of the price of MBX to KLAY on the global market. ※ The following information only applies to Marblership Lunar Animals Collection. 50% of the tokens used for the Level Up Cost are burned regularly through a contract address after being swapped to MBX through MBX/KLAY Dex Pair.
Synchronization time for MBX/KLAY exchange rate : Every 1 hour interval (e.g. 00:00, 01:00, 02:00 ... 23:00 (UTC+9))
*Source data : CoinMarketCap
Swap time for KLAY → MBX through Dex Pair
: Every 8-hour interval at 01:00, 09:00, 17:00 (UTC+9)
Waiting period changes: Unstaking NFT
In NFT Staking v1, there was a 5 minute waiting period to unstake NFTs. In V2, there is no waiting period - unstaking is instant.
Waiting period changes: Unstaking Boosting Token
In NFT Staking v1, there was a 5 minute waiting period to unstake tokens used for boosting. In V2, there is no waiting period - unstaking is instant.
Simultaneous level up for NFTs
In NFT Staking V1, to level up multiple NFTs, users had to level them up one at a time. In V2, you can level up multiple NFTs at once.You can select up to 20 NFTs at a time.
Fee changes: Unstaking Boosting Token
In NFT Staking V1, there was no fee to unstake boosting tokens, but there was a 5 minute wait time, and you had to unstake and re-stake when adding additional boosting tokens. In V2, we have removed the waiting period and introduced a feature enabling additional boosting tokens without unstaking, albeit with an associated unstaking fee..
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