Sappy Seal Rarity Staking Guide
But sir…wen steak? It’s the moment we’ve all been waiting for — our rarity based staking contract is going live and from today you’re going to be able to harvest $PIXL for every Sappy Seal that you hold and choose to stake. To help you navigate through the staking waters, we’ve prepared this handy little guide to help take you through a few of the most commonly asked questions regarding our staking contract.
What is $PIXL?
$PIXL is an ERC20 utility token. This token behaves like any other ethereum-based token and will serve as the base-layer metaverse currency for the Pixelverse! This will be used to mint exclusive NFTs within the upcoming PIXL Marketplace for use within the Pixelverse — collections of items, furniture, games, founder passes and even highly productive yield ($PIXL) generating assets. Constant content drops have been planned and will begin rolling out in the next days continuously for the following months — we highly recommend hoarding $PIXL for these drops as supply will be limited!
How much $PIXL does my Sappy Seal generate?
Sappy Seals have released a first of its kind rarity-based staking contract. This means that the rarity of your seal will determine the amount of $PIXL that seal will generate on a daily basis (more on this below) — this is in contrast to most other staking protocols at present that offer a uniform token emission schedule across their collections. We’ve adopted a rarity-based schedule to offer our collectors additional incentive when it comes to choosing their favourite seals, we want to reward our community for holding rares whilst also ensuring that everybody in the community benefits from holding any seal.
Our team has been hard at work fine tuning our tokenomics to ensure that no matter what seal you own you will still be generating your fair share of $PIXL for use within the Pixelverse. The rarity bands and emission schedule are set out below:
The $PIXL column denotes how much $PIXL isgenerated on a daily basis by each seal in each rarity band, however your seal will begin accruing $PIXL as soon as it is staked. Without getting too technical, your seal will accrue a portion of its daily emission with each block that is mined on the wider Ethereum network. At present there are 6000 blocks mined per day or just over four blocks per minute, this means a base seal will be harvest roughly 0.033 $PIXL per minute (6,000 / 50 * 4) or 50 $PIXL a day
How do I stake my seal?
Our web dev has been hard at work building a beautiful web-based UI for you to seamlessly stake your seals through our website — this functionality unfortunately will not be available from the very first minute our staking contract goes live as he has recently fallen very ill :’(
We want you to be able to start staking and harvesting your $PIXL as soon as possible! In the meantime you will be able to stake your seals by interacting directly with our staking smart contract here. To do so follow these instructions:
1. Navigate to the Sappy Seals NFT contract (available here NOTE THIS IS A DIFFERENT CONTRACT TO THE STAKING CONTRACT), click the ‘Contract’ tab and then the ‘Write Contract’ button below that
2. Click the ‘Connect to Web3’ button, connect your wallet that contains your seal and then click ‘13. setApprovalForAll’ — this will give permission to the staking contract to take hold of your Sappy Seals
3. Enter the staking contract address 0xdf8A88212FF229446e003f8f879e263D3616b57A, fill in ‘true’ in the approved box and then click the ‘Write’ button
4. Navigate to the Sappy Seals staking smart contract
5. Click the ‘Contract’ tab and then the ‘Write Contract’ button below that
6. Click the ‘Connect to Web3’ button, connect your wallet that contains your seal and then click ‘3. deposit’
7. Enter your Sappy Seal token IDs you wish to stake (this is equivalent the # number on OpenSea) separated by commas in the ‘tokenIds’ box with square brackets around it and then click the ‘Write’ button
8. If estimated gas is returned at a ridiculously high level, make sure you’ve not made any mistakes with your token IDs as this will be the result of an entry input error or your not having enough ETH in your wallet to cover the fee. You may also get a high gas error if staking has not been pushed live yet, so please do wait for a formal announcement before staking.
Tips to minimize gas fees for ANY transaction through MetaMask
- When your transaction pops up on MetaMask and before you press accept, click the ‘edit gas fees’ button — there will be three boxes available that you can change numbers in
- The first is ‘gas limit’ — never change this number as it’s auto set by the contract
- The second is the ‘priority fee’ — this is auto set at 2.5, but for staking you can change it to 1.5
- Third is ‘max gwei’ — this is the maximum gas that you want to spend on your transaction. Change this to a level that is appropriate for you; the lower you set this the longer your transaction will take to make its way into a block, setting a gwei 20–30 units lower than current gas can save you a fair bit of ETH.
- Now accept the transaction — the estimated cost is 99.9% of the time much higher than reality (often the final price is 60–70% of that number, but you do need enough ETH in your wallet to cover the maximum price)
- NOTE: you can’t transfer anything else in that wallet while you’re waiting for the transaction to be filled. Once gas drops low enough, your transaction will autofill and your seal will be staked.
Where did my seal go!?
Don’t fret — staking your seal requires you to send it to the staking smart contract so it will disappear from your wallet while it is staked and earning you $PIXL. You can make sure your seal is safe and found by visiting the staking contract on etherscan! When you unstake, your exact seals will return to your wallet, safe and sound!
How do I claim my $PIXL?
Our web-based UI will be up and running in the next few days, claiming your accrued $PIXL will be as simple as clicking a button on the website and accepting a transaction to collect your $PIXL. In the meantime, you can simply access the ‘claimRewards’ function on the contract (same process as described before, step 4).
What can I do with my $PIXL?
$PIXL will be used for everything within the Pixelverse metaverse including our flagship Play and Earn game — it will be required to train, breed and battle your pets (a lot more on this in future Medium articles) as well functioning as the currency required to mint all of the exclusive metaverse items (NFTs) for use within your personal Igloo and the broader metaverse gaming experience. From our projections and models, we expect $PIXL to be highly sought after and invaluable for Pixelverse progression especially within the P&E models.
We’re SO excited to announce the launch of our Pixelverse Marketplace in the coming days; giving you access to the first generation of in-world metaverse items that you will be able to use to customize your metaverse experience once Pixelverse Alpha V2 goes live in mid-December. Once these items are minted, they will exclusively belong to you and won’t be available to mint ever again — many of these items will infer offer seriously unique benefits to the owners of the items within the Pixelverse. Think of it as early access ;)
