Staking & Rewards
Stake CATS for to earn governance privileges and weekly rewards
This is a hands-off long-term (for crypto) staking solution for those who believe in and support the project, featuring great rewards (especially the first two years), decision-making participation and enables running nodes of NFT Arena.
$CATS Staking v1 (ETH)
1. Yield farming essentially means lending your tokens for a period of time to receive more tokens as rewards.
2. Lock duration: 6 months. Periods end at the same time for everyone. You can join in at any time, meaning if you stake halfway into an ongoing period your lock duration is 3 months but half of the rewards have been earned already.
3. Harvest rewards anytime. Rewards accrue per block (every ~13 seconds). Farmers can claim them through a simple transaction anytime.
1. Add liquidity to listing to get LP tokens and LP provider rewards.
2. Stake LP tokens to receive a yield per block in CATS.
3. Staking LPs also produces a synthetic token “sCATS” that you can use for governance on our DAO. You must trade this back to the farm to claim back your stake; sCATS are burnt when used to claim real CATS from the farm.
4. Additionally, if you have staked at least 50K CATS worth or more in LPs, you will have enough synths to stake in a secondary smart contract that also gives you a profit share and node rights to NFT Arena.
5. Nodes share NFT Arena rewards equally, are limited to 500 max in number, and are only obtainable through this staking solution. Get yours while you can!
Rewards halving schedule: 12 months Total rewards for year 1: 6M CATS (spread evenly across 3 farms)
The Fantom version is slightly different, in that it uses the LP token obtained by providing liquidity to the CATS/FTM pool on Spiritswap, allowing participants to add liquidity provider rewards earned from trades, and Spirit tokens, to the rewards described throughout this page.
$CATS Staking v1 (FTM)
$CATS holders may also obtain rights to nodes for NFT Arena through this staking solution. Nodes will be limited to 500 for the first year (or two) and are available on a FCFS basis. Contracts last 6 months (initially) to allow the opportunity for upgrades, we advise saving the date to quickly get your new spot among the 500
- 1.Stake tokens on farm
- 2.Receive 1:1 synths
- 3.Stake synths on NFT Arena contract
- 4.Receive node authorization token
- 1.Creating a card (gas + markup)
- 2.Reclaiming an NFT (gas + markup)
- 3.Tournaments (% of buy-ins)
- 4.In-app Store (% of sales)
We don't know and can't say even if we did.
Yield farming lets people put their cryptocurrencies to work for them by providing liquidity. When yield farmers contribute liquidity, that's called staking.
Liquid assets are those that are in circulation and can be bought and sold quickly and easily on open markets, and a liquid market is one with a lot of trading activity.
Staking a token implies limiting its circulation by "locking it" on a smart contract - where it needs to be taken out of before becoming liquid again. This has a beneficial effect on the price of the asset on the markets, and for this reason, automated protocols can offer extra rewards to people that don't want to immediately sell their tokens because they believe in the project.
Rewards sizes and lockup durations come with many differences these days, and depend heavily on the wider terms of the tokenomics of each asset involved - but generally speaking, getting in early is the best way to maximize value.
The above applies to our case as well, but we anticipate that due to the fact the yield farming lockup is required to obtain the synthetic tokens used for governance, and the privilege of running a node for NFT Arena, that the lengthy (for crypto) lockup will stay relevant and desirable over time in spite of decreasing rewards.