We are excited to announce the release of our staking system and utilities behind our $ETHX tokens!
Overview
- Passive Staking Model. (Your NFT must NOT be listed in order to receive $ETHX. If it is listed on a marketplace, you will receive no $ETHX on the days it’s listed).
- As all $ETHX from Upgrades will be on Polygon, you will never pay to stake, unstake, or to perform utility. It will be 100% free for our holders, you will simply accrue your $ETHX and be able to spend it freely.
ETHX Staking Model
Here’s a diagram of how our passive staking system will work:
- Our smart contract will check how many ETHX a wallet holds. It’ll also check to see if these NFTs are on sale on any marketplace, if it’s not listed for sale, you will automatically earn 3 $ETHX tokens per NFT. (As long as you haven’t listed your NFTs for sale, you will automatically earn tokens).
- It will add a multiplier of up to 150% according to your NFT Ranking / Rarities.
- Here are the bi-weekly calculations:
Base (>10% Rarity): 42 $ETHX
Rarity (Top 10%): 49 $ETHX
Rarity (Top 5%): 56 $ETHX
Rarity (Top 1%): 63 $ETHX - It’ll also add a multiplier of:
+5% for holding 5+ NFTs
+10% for holding 10+ NFTs
Upgrade Parts (Claiming)
Every 2 weeks (1st and 15th 00:01 UTC of every month), you’ll be able to claim your tokens on our dApp. If you missed a claim period, it’ll accumulate to the next period.
When and if you’re eligible to claim your tokens, you will receive one of three chests:
Basic Upgrades — This holds the base $ETHX Yield per token, along with any rarity bonus. It can be claimed any time, it does not expire, and can be stacked
Rare Upgrades — This holds the base $ETHX Yield plus additional bonus +5% $ETHX dependent on if you’re holding 5 or more ETHX NFTs.
Future features: You’ll have a chance of receiving an extra prize using Chainlink’s VRF chance/reward system — limited to WL and smaller prizes.
Epic Upgrades — This holds the base $ETHX Yield plus additional bonus +10% $ETHX dependent on if you’re holding 10 or more ETHX NFTs.
Future features: You’ll have a chance of receiving an extra prize using Chainlink’s VRF chance/reward system — WL, NFTs, and small to large prizes.
Future Features
A function we’re working on with Chainlink, is a system of extra rewards when you claim your tokens. When you claim, you’ll have a chance of receiving an extra prize using Chainlink’s VRF chance/reward system (verifiable on the blockchain). Prizes may include ETHX NFTs, free NFTs from other collections, Whitelists, free merchandise, expenses paid trips (flights, hotels, packages), gift cards, and more. Rare upgrades will be limited to WL and smaller prizes, while Epic Upgrades can include all prizes.
We’ll also work on a raffle system to giveaway prizes using Chainlink’s Keepers. Once these are implemented, Chainlink will also help with marketing and promotions as well as hold AMAs together.
Marketplace
Here are some things you’ll be able to purchase using $ETHX on our marketplace. It’ll constantly be updated and new items / NFTs will be voted in by our council. Monetary prizes will continuously be funded using our $WRLD from our NFT World’s.
- Whitelist spots from hyped projects.
- Free ETHX NFTs (Gen 1 & 2).
- Free NFTs from other collections.
- Giftcards (Amazon, Starbucks, etc.)
- Electronics (Ledgers, Apple, etc.)
- Free & Exclusive Merchandise.
- & More to be added as we continue to build partnerships
Conclusion
This will continue to be a work in progress and we’ll constantly upgrade / update our system to meet our holders’ needs. To reward our current holders, anyone who has been holding for the last couple of weeks (and the days they have not listed for sale), you’ll be able to claim your tokens immediately, starting on June 1st.