Mavia Land NFT Soft-Staking
We are proud to introduce Land NFT Soft-Staking, a new concept created by our team at Skrice Studios that allows any Land NFT owner to stake their land and earn rewards without the need to pay gas or give up control of the NFT token.
Overview
The idea of soft-staking originated from a need in the NFT community to be able to earn rewards easily from holding, without paying high gas costs, and without exposing NFT owners to a long lockup period without being able to hold and control the token in the user’s wallet.
Traditional staking involves depositing the NFT into a smart contract (costs gas $) and then locking the NFT for a specified time period. Once the lockup period is finalized, users will then need to withdraw the NFT from the staking contract (another gas cost $), and then the user will have control over the NFT again.
We feel that in the case of NFT staking, a simpler solution should exist to reward holders, and soft-staking solves all of these issues.
Release Date
Land NFT soft-staking will be released for the public officially on Saturday, March 26 2022.
This does not mean you must stake on this date. At the moment, there is no deadline to begin your stake. However, the sooner you begin your stake, the sooner you will earn your rewards (after nine months).
Rewards
Reward #1: Gold Statue NFT
Our first round of soft-staking will require a holding period of nine months, and will reward every Land NFT staked with a “Gold Statue NFT”.
Each and every Land NFT staked will receive a Gold Statue NFT if they successfully complete their nine month holding period stake.
At the end of nine months, every user who completed the hold will see the Gold Statue whitelist appear in the minting page of Mavia.com, similar to how the Land was minted. However, this Gold Statue NFT mint is 100% free, and not just a whitelist. The only cost associated will be the gas fee required to mint the NFT.
The Gold Statue NFT is the first-ever Statue NFT made available to the public. The Statue can be placed on any base, and it will immediately begin improving the Gold production rate of the base. Gold is an essential resource in Mavia, and is used in dozens of buildings for upgrades and constructions, as well as many other things throughout the game.
By improving the rate at which you produce Gold, your base can grow stronger and faster. This NFT is very valuable, and will serve immense utility on any Land/Base it is placed on.
The Statue can be used immediately after it is minted, and after the game is released. The Statue NFT, like other NFTs, will begin at Level 1 and can be upgraded with RUBY to become more powerful and productive.
Reward #2: Mystery Reward (Rare + Legendary Only)
Each Rare or Legendary land staked will receive an additional reward at the end of the nine month holding period. This reward is currently a mystery, and will be revealed closer to the game launch. There will be a slightly better reward for Legendary lands compared to Rare. Common lands are not eligible for the mystery reward.
NOTE: Users who stake more than one NFT are eligible to receive a reward for each piece of land staked. There is no benefit to separating wallets, and staking across multiple accounts. There is also no benefit to consolidating many lands into a single wallet.
It is important to remember that if during your stake, you sell or move your NFT from your wallet, you will be immediately disqualified from staking rewards, and will receive no reward for your time staked. Only if you have completed nine consecutive months of holding the NFT in your wallet will you receive the reward(s).
How Soft-Staking Works
Step 1: Choose Your Land NFTs to Stake
The first step to soft-staking is to select the Land NFTs you wish to stake from the staking dialogue. You will be able to stake every Land NFTs owned by your wallet, all for no gas.
You can stake Common + Rare + Legendary at the same time, in unlimited quantities.
Step 2: Select “Stake Now”
You will be shown a screen with information with your stake duration, and the rewards you will be earning from your stake. Click the “Stake Now” button to proceed with the stake.
Step 3: Confirm Your Stake & Optional Whitelist
A popup will display that gives you some final disclaimers, and the ability to add a whitelisted address.
You are able to whitelist 2 wallets when you stake your land. The first whitelisted wallet is by default your connect account wallet, this cannot be changed.
You have the *optional* ability to whitelist a second wallet address also, which could be a hardware wallet such as Trezor or Ledger.
All whitelisted wallets enable you to transfer to/from them without ending your stake. Non-whitelisted wallets cause an immediate ending of the staking if your Land NFT is sent to it.
NOTE: You can add only 1 whitelisted address per stake. This whitelist address (in addition to the default address of your connected account) will NOT end your stake if your NFT is stored in it. This feature was created so users can store their NFTs in Hardware wallets, without ending their stake.
Once your select the “Continue” button, you will be asked to sign a transaction from your wallet. This will not cost any gas, this simply approves the stake transaction.
Step 4: Done — Hold Your Land NFTs
Now that you have successfully soft-staked your Land NFT(s), the only thing left to do is hold! By simply keeping your Land NFT in your whitelisted wallet(s), you will continue to be staked. After the nine month period, your reward will be available.
NOTE: Staking Land still allows you to play the game once it is released. Because you still hold the Land NFT(s) in your wallet, you will be able to play by connecting your wallet to the game, without any consequence to your staking progress. Soft-staking really is like having your cake and eating it too!
About Heroes of Mavia
Heroes of Mavia is a AAA MMO strategy game allowing players to buy land, build a base and battle other players for the in-game token RUBY. There exists three NFT types in the game — Land, Heroes and Statues, each of which can be bought and sold on the Mavia marketplace. RUBY is the main play-to-earn currency in the game, and can be earned by winning battles against other bases.
