Estate staking is LIVE.

Bit.Country Team

Published in

MNet

5 min readApr 2, 2023

Update 6/Apr/2023

Estate Staking is LIVE.

TL:DR

Stake up to 1000 $NEER per land unit in your estate. (The larger estate you own, the more NEER staking quota you will have)
The estate staking will allow you to earn $BIT rewards from a new pool with an extra 20% of the daily BIT production.
Estate staking doesn’t affect the utility of your estate.

Going Live Time

We are excited to announce that the Estate Staking feature will go live on Pioneer in 48 hours 11 PM UTC 4-Apr-2023.

Please prepare so the pool will have a fair distribution among the participants.

What You Can Do Now

Here is the minimum requirement to participate,

Prepare a minimum of 100 NEER for Estate Staking
An Estate with a minimum of two land units. (How to Create Estate)

🔥Here is how you get the most of out it

Prepare 1000 NEER for each land unit in the estates you own.
e.g. You have an estate made up of 10 land units, you can stake up to 10,000 NEER in this pool as each land unit allows you to stake up to 1,000 NEER.
Create estate from the land units you have got because only estates can be used for Estate Staking. (How to Create Estate)

When you stake $NEER in your estate, you receive $BIT from an exclusive pool reserved for estate owners.

This gives landowners a new option and opportunity to maximize their $BIT rewards per mining round.

How Reward is Calculated

Estate staking and token staking earn $BIT rewards from separate pools. Twenty percent of all the $BIT mined per round is distributed to staked estates. Staking your $NEER in the land might offer you higher $BIT rewards than staking in the communal $NEER rewards pool, as the opportunity to stake land is limited to a smaller group of people i.e. Estate owners.

The amount of $BIT that can be earnt is based on multiple factors, including:

The amount of $NEER you stake in your estate.
The size of your estate.
The location of your estate.
The size of the metaverse where your estate is based.
The distance of this metaverse from the origin of the Pioneer map.

Estate staking doesn’t affect the utility of your estate. Landowners can still build in, transfer or trade their staked land.

Note: The $NEER staked in an estate is not transferred to the new owner, but it will remain locked until the unstake function is triggered by the estate owner.

How Estate Staking Works

Estate staking is similar to $NEER staking. However, owning land will give you the power to get an opportunity to earn $BIT by committing $NEER into your land units rather than to the regular $NEER staking pool.

You can stake up to 1000 $NEER per land unit in your estate. For example, if your estate consists of 4 land units, you can stake up to 4000 $NEER in your estate.

The amount of $BIT rewards that you earn from your staked estate is determined by 5 key variables:

The points formula of your Estate Staking.

n: NEER amount
m: Metaverse size
e: Estate size
d1: Estate’s Distance to origin in the metaverse
d2: Metaverse’s Distance to (0,0) on pioneer map

1. The Amount of $NEER Staked in your Estate.

The more $NEER that you stake in your estate, the greater the $BIT rewards you can earn. (You can stake up to 1000 $NEER per land unit in your estate)

2. The Size of your Estate

The larger your estate in terms of land units, the more $BIT rewards you can earn.

3. The Location of your Estate

The closer your estate is to the origin (0,0) of the metaverse, the higher the potential $BIT rewards you can earn.

4. The size of the metaverse where your estate is based.

Metaverse size is calculated by the number of Raw Land Blocks deployed. An estate located in a larger metaverse is likely to earn more $BIT compared to an estate in a smaller metaverse.

5. The distance of the Metaverse from the Origin of Pioneer Map.

If the metaverse where your estate is located has secured a spot on the Pioneer Map, you stand to benefit. Metaverses that are located closer to the origin of the Pioneer map will tend to earn more $BIT compared to those that are farther from the origin or not on the map.

Start Earning for your Future Builds Today

You will need $BIT to build your metaverse and craft utility NFTs. We encourage all estate owners to take advantage of this brand-new opportunity. Let your land work for you while you sleep.

Estate staking is one of the latest features that we are excited to announce as a preparation for the official launch of Kaosland. Stay tuned for the upcoming releases and be the first to take advantage of this and the upcoming features we are about to launch.

Utility of BIT

$BIT will be the fuel that powers the development of 14,883,400 sqm of land currently deployed, which will be utilized among 695 different metaverse projects.

Metaverse building
Crafting NFT Metaverse Object
Placing and removing 3D assets & Props
Customizing the community pulse pages
Virtual land customization

About Bit.Country & Metaverse.Network

Bit.Country is a platform for user-created metaverses and games with opportunities to earn. Metaverse.Network is the blockchain protocol on top of which Bit.Country is built.