Staking Rewards
This page goes over Taiyo GEN1/2 Staking rewards.
Last updated
This page goes over Taiyo GEN1/2 Staking rewards.
Last updated
References: Taiyo Gen1- https://hyperspace.xyz/collection/taiyorobotics Taiyo Gen2- https://hyperspace.xyz/collection/taiyoinfants Oil - https://hyperspace.xyz/collection/taiyooil With the release of Graphite, a new staking mechanism for Taiyo assets is now available. The previous Scrap staking system used a locked staking mechanism, where longer locks resulted in higher daily rewards, but this model caused unnatural price discovery for the tokens and NFTs. The new Taiyo staking contract aims to improve liquidity and price discovery by using "Milestone" staking. In "Milestone" staking, rewards and daily emissions increase the longer Taiyo is kept in the stake. The Taiyo NFT can be unstaked at any time, but if unstaked, the milestone reverts to the first day's milestone with the lowest possible emission when restaked. You CAN claim tokens daily without the milestone resetting. Milestones:
Oil Boosting: KEY INFO: 5L Oil Represents a 5% boost to Staking. 10L Oil represents a 10% boost to Staking. In 2022, two cans of Oil (5L and 10L) were airdropped and can now be burned for a boost in Taiyo asset staking. When burning the Oil cans you get boosted rewards and faster emissions.
Note: Burning the Oil deletes it from the blockchain and it can no longer be accessed. The boosts apply to the selected NFT for life, we'll be creating an explor The max boost you can apply to your GEN1/2 is 15% the only exemption to this is Legendaries 1/1's which can boost 20%. This 15% boost can be made up of either burning 3, 5L Oil cans on the staking site, or 1 10L + 1 5L. Due to feedback from the community, we have revised the operation of the Oil boosts. As a result, the boost now results in the emission of additional tokens and an increase in the overall allocation of Graphite tokens.
To summarize, burning a 5L Oil can will result in a 5% boost, while burning a 10L Oil can or two 5L Oil cans will result in a 10% boost, combined they reach the maximum allowed boost of 15%.
