NFT Staking Starts July 1, 2021
On June 16th, we will reach the end of the three months promotional period for L3P Staking. In our white paper, we stated we would guarantee a rate of 77.7% for the first three months. This promotional offer was, of course, to encourage early adopters to hold in the first few months as vested tokens came online.
Staking APRs on MANTRA DAO and Leprichain will change from tomorrow in the following sequence.
MANTRA DAO Staking
- Thursday, June 17th: The APR on MANTRA DAO Staking will be reduced by 50%. Instead of paying 10 L3P per block, the contract will pay 5 L3P per block.
- Thursday, June 24th: The APR on MANTRA DAO will be further to 3 L3P per block.
- Thursday, July 1st: We will reduce the APR to its final figure of 1 L3P per block. Based on the current pool size, that is approximately 7.8% APR.
We are stopping the 8-day unstaking period from MANTRA DAO for two weeks. Between June 17th and July 1st, you may unstake from MANTRA DAO immediately and without penalty.
- The APR on Leprichain will remain fixed at 77.7% until July 1st. We will then reduce it to 7.7%
Should you move your staking?
Once things settle down, we expect the APR on MANTRA DAO will be slightly higher (due to its variable nature) than Leprichain. If you only intend to hold L3P, then we would encourage you to stay on MANTRA DAO.
If you plan to play an active role in the L3P ecosystem (play games, enrol in bounty programs, or governance), then you should take advantage of the two-week window to move your L3P to Leprichain.
If you own a Lepricon NFT from our Genesis sale, you should move your funds to Leprichain by July 1st, following the steps outlined in this article.
How NFT Staking will work
NFT staking will begin when the APR on Leprichain changes on July 1, 2021. NFTs that apply APR boosters will only work on L3P staked on Leprichain at wallet.lepricon.io. If you are staking on MANTRA DAO, holding one of our NFTs will not have any effect.
To obtain the benefit of the NFT is very simple. Simply hold the NFT in the same wallet address as your staked L3P. Each day, when the contract pays the staking rewards, we will listen for the NFT on Ethereum Mainnet. If it is there, you will get the additional yield. If it is not, then you won’t.
If you hold multiple NFTs, then we will act only on the one with the highest yield boost. There is one exception to this. The Lucky Lepricat, where holding seven of them gives you a 7% APR boost.
The Legendary NFTs are unique in that they offer a period of 77.7% fixed APR and then revert to a lesser APR boost as follows:
- King Patrick — fixed 77.7% for six months, after that 5% APR boost
- Merry Nakamoto — fixed 77.7% for three months, after that 4% APR boost
- Sneaky Luckleaf — fixed 77.7% for one month, after that 3% APR Boost
The fixed 77.7% period for those NFTs starts on July 1, 2021.
If you hold a Lepricon Genesis NFT (Legendary or Lepricat), you should:
- Move your funds to Leprichain if you have not already
- Hold your NFT in the same wallet address on Ethereum Mainnet, and you will automatically get the appropriate APR boost.
Learn how to stake your L3P on Leprichain here.
Lepricon is a community-owned and governed hyper-casual games platform that allows stakers, developers, and gamers to enjoy the benefits of DeFi in a gamified way, backed by a vibrant community in which all participants receive rewards for positive contributions and interactions.
Lepricon will evolve into a Decentralised Autonomous Organisation (DAO) — an organisation represented by rules enshrined in computer code, transparent and controlled by the network participants and not by a central authority.
For further information, please visit https://www.lepricon.io.
$L3P Contract: 0xdeF1da03061DDd2A5Ef6c59220C135dec623116d