Staking and the DAO Government
A Knight always makes the difference! How will the Forest Knight DAO governance affect staking? Find out more about the upcoming features in Forest Knight!
Forest Knight will be building its staking program. The staking system is one way we want to add utility to our holders. But what if we told you that holding also makes you a voter! Linking these two systems together is crucial for our knights and the game’s future.
What is Staking?
If you’ve participated in any conversation related to blockchains or NFTs, then sooner or later, you’ve probably heard the term “staking.” What exactly is staking? In crypto terms, staking is akin to passive income. You lock the project’s utility token and, in return, gain a percentage based on that amount.
Gamers who enjoy playing turn-based games set in a fantasy world will enjoy playing Forest Knight. But that’s not the only catch! Forest Knight has its own NFTs with a play-and-earn and free-to-play model on top of an already well-developed game. How do we do this? Knights who play the game can engage in various activities and earn NFTs that they can trade. Simple as that. We’ve added an entire system that supports this style of gameplay.
Staking in Forest Knight
What does this mean for our knights? Our goal isn’t for the game to become a second job for anyone. We want our knights to enjoy the game and own the NFT they earn — no caveats.
Forest Knight is doing something unique. We don’t want holders taking the backseat. We don’t want to promote a system of whales who transition from project to project, purchasing its token, staking it, all while having nothing to do with the game. We want our knights to be immersed in this process, voicing their opinion and being active in the game’s development. That’s where our DAO governance comes in.
A Game Governed by Knights — The Forest Knight DAO
Ultimately, our goal with Forest Knight is to have a game where we adopt a voting system.
“Voting for what exactly?”
For the game’s future, of course. Our approach to staking is deeply rooted in the game’s governance system. We want our knights to participate in the game’s development actively.
Since we decided that staking in Forest Knight will not be a passive-income system, we want to promote an active voter system. Locking just one $KNIGHT is enough to qualify you as a voter. Naturally, there is a system of voting power in place: the more tokens you stake, the more voting power you’ll have. Each vote will have a reward allocated to it, which voting will make you eligible to earn.
This system is much healthier than just a passive income system. With governance and staking, we’re promoting a healthy and active player base that wants to see the game grow by actively participating in its development.
“What else?”
Governance and Staking are related to the VIP system. Accounting for the amount of staked tokens, staking $KNIGHT will also raise your VIP level, earning you more bonuses and benefits. The VIP system is critical to tying everything together, and we’re very excited to reveal what we have in store.
Guilds — Staking for Your Fellow Knight
During 2022, we’re also looking to release a lite version of Forest Knight guilds. Because the game has a lot of knights playing simultaneously, we’re sure that a lot of you would appreciate guilds. Grouping with like-minded players under one banner has been a thing for as long as we can remember. We love every feature that promotes socialization, and we work hard to develop them.
One exciting feature we’re working on is staking for another Knight. Joining a guild means that other guildmates can stake tokens for you, earning guild-wide bonuses for everyone. This feature is a perfect opportunity for gaming guilds to join Forest Knight. Vote to get various bonuses for your guildmates, while still holding full custody of your tokens and voting power. This further compounds the trifecta of socializing, governance, and staking. Voting actively as a guild will earn you various bonuses, VIP levels, and voting rewards.
We feel that this approach will prove incredibly successful because it has all the elements needed to create a successful model. Governance comes even from the smallest of knights. And with voting rewards being a thing, there is no point in not participating. The DAO Governance is one of the most important features we launch, and we’re very excited to share it with you soon!
About Forest Knight
Forest Knight is a turn-based strategy game where you assemble teams of heroes, equip them with uniquely designed and powerful NFTs to ultimately defeat the Skeleton Master, and climb the leaderboards against other knights!
Sometimes knights do know best, and we understand that. We want to make every one of you count. Download Forest Knight now and see what we have to offer in Early Access!
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See you on the battlefield!
Forest Knight Team.
