Collection Staking for increased DU$T Mining Power is Live
The team behind Magic DU$T, DU$T DAO, Nifty Wizards, and Magic DU$T Miners has been hard at work and collection staking is at the top of their to-do list. Collection staking gives other projects in the WAX ecosystem the opportunity to turn their NFT’s into “mini DU$T enhancers” thus giving a utility or increased utility to that project’s assets.
Nifty Wizards players have enjoyed the benefits of collection staking for a little while now. Nearly all the items released by the project have some level of DU$T enhancement attached to them. If a player holds a DUST Report NFT they can query the DU$T Bot to see the amount of additional DU$T their owned NFTs have mined them.
WAX Chat Power Explained
DUST Enhancers mine at the rate of 0.2–0.5 DUST per message. Looking at the report above, you can see that I have 47 enhancers. 47 x 0.2 = 9.4 DUST at the low end, and 23.5 DUST at the high end (Total Enhancer).
My Nifty Wizard NFTs are providing me with a bonus per message of 52.8801 DUST (Total Bonus).
This makes my total DUST mined PER MESSAGE between 62.2801 (9.4 + 52.8801) and 76.3801 (23.5 + 52.8801) DUST (Gain Range).
Collection Staking Explained
The collection owner stakes an amount of DU$T between 200,000 and 1,250,000 (Staked DU$T). By doing so, the collection will gain a pile of DU$T per month which will be available for collectors to mine (Bonus Mining Amount). And the collection can identify a number of their NFT’s to be used as mini-enhancers (Number of NFT’s).
So, if I as a collection owner staked 400,000 DU$T my collectors would have the potential to mine an additional 200,000 DU$T per month by holding any number of the 25 NFT’s I identified as the ones I wanted to include. Each collection will produce a list of NFT’s they are using as mini-enhancers and the additional amount that will be mined. The amount is based on rarity of the item therefore a lower minted item is more valuable than a higher minted one.
A public spreadsheet is available here to view the various bonus mining rates per item. Established collections are tabbed at the bottom of the sheet.
Collection Staking Rules
- DUST must be staked to the wallet nft.dust
- Collection owner must own a Magic DUST Miner which is an NFT on the Ethereum blockchain. Miners can be minted Here.
- Collectors must also own a Magic DUST Miner to unlock bonus mining.
The funmangalaxy Collection is the first to be established as a staked collection. Join their Telegram room here.
Pictured above are some of the more valuable funmangalaxy items that have been staked as mini-enhancers. The Nomad (only 5 exist), the Dungeon Raider (Shiny), the Dung Monk, and the Child of Anubis.
The next two collections to be staked are the Stoned Warlords and Dust World. You can join the Warlords Telegram here and receive 2 free NFT’s!
A fourth collection has now joined collection staking: the Chronaverse.
Pictured are some of the items that will be staked as mini-enhancers. Spawn of Jenova, A’ar Quintas The Destroyer FULL — Inferno Version, Mechanova, and Majestic Red. The Chronaverse is vast and complex. You would do well to read the Medium Articles, view the available blends, and click through the game. If you get confused, join the official Telegram Group.
Written by Subterranean on behalf of the Wizards Guild and the DU$T Team
