[play.denations.com] How to register Ownerships (NFT) and farm Tax (DENA).
Before starting a tutorial…
Why Encourage “Register Ownership”?
Because owners who register their nations can receive Tax.
First, Tax Farming
Tax farming is a similar concept to liquidity mining or yield farming as you register your NFTs (Nation Ownership) and get Tax (in DENA) as a reward.
Second, Founder Tax
1. Go to the main page
2–1. If you already own cards,
Click the Register button
2–2. If still have no cards, select the nation cards you want to own under the marketplace
Click the Buy button which will direct you to the OpenSea (need to purchase NFTs to proceed the next steps)
Tax & Ownership page
- Claim Tax
Under the Tax Received section, click ‘Claim’ button when you want to withdraw the accumulated tax in DENA.
*The minimum amount of DENA = 1 to proceed ‘Claim’.
2. Manage owned nations
Click ‘Manage’ button of the nation you want to see in detail
Check the current summary of the selected nation
*Detail information about tax compensation, DGDP, owners, and the president is included
3. How to charge DENA to play.denations.com
Log in ChainBridge
Under ‘Wallet’ tab, click Decentralized Nations
Click ‘Receive’ button to transfer DENA from Metamask to ChainBridge
Click ‘Copy wallet address’ or use QR code provided.
Switch to the Metamask app
If the DENA token is not registered on the list, click ‘Add tokens’
Click the ‘Custom token’ and fill the blanks
DENA Token Address: 0x15f0eedf9ce24fc4b6826e590a8292ce5524a1d
Now back to this screen and click ‘Send’
Paste the copied DENA wallet address from the ChainBridge
If you also see that notification, you are good to go ‘Next’
Click the dropdown button, and change it to DENA
Set the amount you are willing to send
When DENA is successfully transferred to your ChainBridge wallet, it will reflect on the play.denations.com
4. **Register & **Boost Nation Ownership Cards
Click the ‘Register My Ownerships’ or Scroll down
Click the ‘+’ sign and check the weekly tax rewards in the summary
Click ‘Register’ when satisfied
‘Waiting for approval’ statement will be shown
Check your ChainBridge application using a mobile phone
Approve the DENA withdrawal
Back to the page & Click ‘Confirm’
You have to register NFT nation ownership cards in order to enjoy the Founder Tax and Tax Farming. You can determine how many cards you want to register. When they are registered, the weekly tax rate will be automatically calculated based on the stated DGDP. When you are the one who registered the most, then you become the president of the nation. President has special privileges and will be compensated a bit more than the other owners.
There are several ways to increase the DGDP of your nation. One powerful tool to increase the DGDP is using DN cards. Successfully registered nation ownership cards can be “boosted” by the DN cards. Boosting can make your national DGDP higher, increasing your weekly tax rate accordingly.
[Important to note]
Whenever you attach Nation Ownership cards or DN cards, DENA is necessary.
DENA used during registration will be burned.
You are unable to unregister the cards once you registered, but when you sell or transfer your Ownership NFT to other accounts, they will be automatically unregistered.
You are able to detach the DN cards which were used to boost your nations, but when you sell or transfer your DN cards to others, they will be automatically detached from the order of the smallest DGDP.