Guide to Rewards for Season 1 NFT Holders
Our season 1 NFTs are very special, not only because they are our first mint, but because they provide very juicy COSG rewards for their holders. This guide will describe what those rewards are, how they are calculated, when they are distributed, and some recent changes to the reward schedule.
What are the rewards?
Each season 1 NFT earns its holder monthly COSG rewards for a year from July 2022. The amount of COSG is pegged to the USD value of our token and depends on the rarity of the NFT (see the table above). The amount of COSG is calculated immediately before each distribution so the number of tokens may change from month to month.
How are rewards calculated?
On the 1st of each month a snapshot of all season 1 NFT holders is taken. NFTs need to be held in your own wallet to be counted so if you have them listed for sale on a marketplace you will need to transfer the NFT back to your wallet. Each NFT held in your wallet at the time of the snapshot will earn the USD value of COSG listed in the image above. For example, if you hold 1 Legendary, 1 Rare, and 2 Uncommons then you will receive $91 worth of COSG for each month that you hold them.
When are the rewards distributed?
Rewards are distributed within the month that the snapshot was taken. This can be anytime after the 1st and before the end of the month.
Early in 2023, we migrated to a new COSG token which disrupted season 1 NFT holder rewards. No rewards were distributed in March and April because we had not launched the new token. A snapshot was taken on May 1st and airdrops resumed with some changes.
Changes to the rewards program
We’ve made 2 changes to the program. Firstly, each season 1 NFT will receive a 20% bonus for the remaining rewards owed. Secondly, the remaining 4 months' worth of rewards will be paid out over 8 months. This means 50% of the monthly rewards + the 20% bonus will go out each month. The purpose of this change is to reduce monthly sell pressure on the token during these challenging market conditions and to entice new users to buy and hold our season 1 NFTs.
ABOUT COSMIC CHAMPS
Cosmic Champs is a play and earn, tower rush, real-time strategy game developed by gaming studio, Mad Shapes. It aims to remove many of the existing barriers to entry for typical P2E games. This means it’s mobile-first and no wallet, tokens, or NFTs are required to play when we officially launch. These innovations position Cosmic Champs as the benchmark for crypto games in GameFi. The game is accessible here via Android and iOS devices or via a web browser. Cosmic Champs NFTs are the gold standard in 3D game-ready NFTs on the Algorand blockchain. Cosmic Champs graduated from the Algorand Foundation and Draper University Blockchain Accelerator Program in 2021 and conducted an over-subscribed private sale led by Borderless Capital.
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