Since day one, we at Starly have thought of ways to fulfill our vision of a great platform to benefit everyone — Creators trusting us with their cherished artworks, Community believing in the future of the platform, Investors, and our Team working towards the common objectives.
To achieve it, the top priority is the long-term success of the developing Starly ecosystem. By launching $STARLY we envisioned a utility token serving as a medium for creators, collectors, and the surrounding communities for the ultimate user experience.
A few weeks ago we released our roadmap, focused on building a sustainable and scalable product, introducing an outline of the Collect-to-Earn experience.
Soon a game-changing approach will be introduced on Starly — a reward system designed to engage and reward collectors, as well as provide a solid token utility.
Introducing NFT staking
We are thrilled to announce that we are making it possible to stake Starly NFTs.
The Staking Reward of each card is equal to the Card Score in $STARLY tokens, and tokens are distributed in a linear manner of the amount following the formula: Card Score/365 = token amount distributed for 24h.
In a nutshell — it takes a year to collect all tokens that are locked in the NFT card.
You can claim tokens not more often than once a day. The ability to claim staking reward depends on the Starly token staking tiers and is explained below. The card can be sold, just has to be unstaked first.
Example
You own the #1 Legendary Plus card Gunter and Nacht from Red October collection by Jakub Różalski with the 17,500 Card Score. By staking this card, for 365 days almost 48 $STARLY will become available to claim daily till the amount of 17,500 tokens in total are reached.
The amount of tokens available to claim will be linear and depend on the amount of the staked $STARLY tokens.
The daily amount of tokens you can claim will be equal to the 1/100 of the tokens you have staked. For example, if you stake 1000 tokens, you can claim up to 10 tokens a day.
All tokens that are not claimed (even if they are available to claim) still belong to the card until they are actually claimed by the collector. Example: 48 $STARLY becomes available for you to claim but you’ve claimed only 10 of them and then decide to unstake the card. The remaining 38 tokens will be locked back inside the NFT card. You will have to stake the card again and wait until they become available for claim.
Furthermore — if you sell the card the unclaimed tokens will be transferred together with the NFT itself to the new owner.
Staking rewards do not affect Card Score. Card Score remains unchanged and continues to contribute to the owner’s Collector Score.
We estimate that this feature will be implemented in about one month’s time and it will refer to all the cards from previous and future Starly collections.
$STARLY Payments
Recently an option to acquire packs with our token was released, with a promise to shortly be able to use the token also on the secondary market.
However, with the introduction of NFT staking, we will also make $STARLY the native currency of the platform — all prices for drops and secondary market will be set in Starly token. You will still be able to use other currencies, but they will be swapped and the beneficiary will receive payment in $STARLY tokens.
For your convenience, the STARLY<>USDT pair will be shortly added to the Blocto Swap, as well as $STARLY will be available on DEX — PancakeSwap.
We work on some other very exciting features, designed for the community to benefit from collecting NFTs on Starly — will introduce them to you soon — stay tuned to be a part of this epic ride!
Starly Links
➡️ Website (https://starly.io/)
➡️ Twitter (https://twitter.com/StarlyNFT)
➡️ Discord (https://discord.gg/starly)
➡️ Telegram ANN (https://t.me/starlynft)
➡️ Telegram Community Chat (https://t.me/starly_chat)
➡️ Instagram (https://instagram.com/starlynft)
➡️ Medium (https://medium.com/@StarlyNFT)
