NFT-based incentive program: What is it and what’s for

Dear community members!

In this difficult time of the global economic crisis, cryptocurrency is also under pressure and all the markets are disrupting. But we believe that such hard times give us great opportunities for growth! The usual standard views on working and subordination are collapsing. The paradigm of attitudes towards working and having fun is being blotted out. With the advent of DAO Governance and other cutting-edge innovations the line between investors, employers, employees and game-players is getting blurred. In this magical brand new reality the world’s largest corporations sometimes occur in a line with ordinary people.

No matter how quickly and drastically the world is changing, we always keep up with the times! And this time we want to distract you from the global crisis and show how you can feel like playing a game, but still making real profit from Staking with ColdStack.

NFT-based Incentive Program

As you already know, in May 2022 we released the ColdStack’s Staking System which is the NFT-based incentive program for our ecosystem, adopters and the most dedicated community members. You can read the article below and find out more about how it works: https://medium.com/coldstack/coldstack-staking-is-live-8bf366097ebd

Our staking mechanism allows our actively participating community members to earn interest and rewards on their $CLS tokens by locking up any number of $CLS tokens that they have in their possession. In April 2022 we mentioned that the most dedicated community members will be able to increase their yield to the upper limit of 450% APY. You probably still want to know HOW. And now we’re finally ready to give you the answer — long awaited “NFT Achieves” which are collectible NFT tokens that will be given to those users who are actively contributing and interacting with the ColdStack.

What Is It And What’s For?

Why “NFT Achieves”? We decided to name the NFT tokens like that to emphasize their association with achievement awards in games. The more you play, the more you achieve and the more rated award you get. We appreciate our community members and their contribution to the development of our Project. Joint growth is our great collective achievement which we will never forget to generously reward all the participants for.

Collecting NFT Achieves opens up new higher levels that gives their owners special excellences and more beneficial conditions for staking. As for us, the ColdStack’s working group, Achieves, allows us to provide the most profitable conditions only to those users who actively participate in our ecosystem’s development, uploading and storing a large amount of files, showing high levels of social activity, for example, by attracting new users. We believe that such mutually beneficial cooperation with our most dedicated users will help us to move to the top of this brand new world even faster.

Basic Info

Achieves affect:

• APY: NFT Achieves give you a chance to earn up to 450%;
• Staking Volume: ColdStack offers traditional staking to anyone with no staking amount limitations in the initial contract, but within this program you can get special conditions only through getting NFT Achieves;
• Staking Period: the minimum staking period may be decreased (3, 6, 9, 12 months) and in case of having NFT Achieves you’ll be able to stake for 6 months under the same conditions as for 12 months without them.

There 2 types of NFT Achieves according to e-wallet linking:

• connected to the wallet / user’s account (can not be shared with other users);
• not connected (ones you can share with other users).

Activation of NFT Achieves can be either instant (at the time of token issuance), or deferred (after a specified time and subject to certain conditions) — implemented through the exchange of an old token for a new one at the time of activation. Non-activated NFT tokens can not be shared.

Reactivation of NFT Achieves (extension of the token’s validity) means the issuance of a new token of the same type with the activation date “NOW” — at the time of expiration of the current token, subject to certain conditions.

Deactivation of NFT Achieves occurs either upon expiration, or if the verification failed when passing the specified conditions.

Collected NFT Achieves of each type automatically group into bigger ones and get on the next level when the required number of lower level Achieves is already collected on the user’s wallet / account. You can get a next-level Achieve if you have 10 same Achieves according to the scheme:

10 bronze -> 1 silver

10 silver -> 1 gold

10 gold -> 1 platinum

Lower-level Achieves disappear after grouping into the next-level one.

If you also believe that great changes are coming and you want to be a part of this revolution, you can start to facilitate our ecosystem and you’ll be rewarded with NFT tokens that may be used for staking and increasing your yield up to 450% APY! If you hold the tokens in your wallet and the wallet is set up to a CLS account and connected to ours, the NFTs will affect the staking features.

Want to know all the other details?

In the next article we will describe the NFT Achieves’ metadata structure and tell you about all the types of Achieves we’ve prepared for our valued community members. You will also find out what you can get all the Achieves for and how they will look like and combine with each other.

After that we’re planning to draw you in even more and write an article about the details of the regular NFT Achieves’ Lottery! You can win not only typical NFT tokens for further collecting, but you also can become an owner of Money-Achieves that can either be immediately sold in one click through the built-in marketplace, or that are sold automatically at the moment of receiving.

Stay Tuned

Every crisis is a great time for innovative solutions. We’re here to show you how to easily step into a brand new world just like you get to the next level in a game. Follow us and don’t miss anything important:

Official website: https://coldstack.io
Twitter: https://twitter.com/coldstack_io
Telegram: https://t.me/coldstackio
Medium: https://medium.com/coldstack