NFT Staking is Coming to the Lympo NFT Minting Platform — Earn $LMT
Get ready to stake your Lympo NFTs and earn $LMT. More utility, more freedom — more rewards.
It’s no secret that we’re taking our NFTs beyond a collectible asset. Our goal is to open up communication channels between users & athletes via NFTs, allow people to interact with their NFTs, utilize them in games, and gain rewards for being part of the community.
That’s why we’re in the final steps of launching our NFT staking platform, where users will be able to earn $LMT by staking their Lympo NFT Assets.
How Will it Work?
1 wallet will be able to stake up to 15 Lympo NFT cards in a selected staking pool. Each card will have different rewards associated with it — the rewards are based on rarity. Each pool will have different rewards, pre-requisites, and staking periods associated with it.
Users will have to stake their NFTs + $LMT and they’ll earn MONTHLY rewards based on the pool they’ve chosen and the amount they’ve staked.
To summarize: Choose your NFTs, choose a pool and lock it down for a period of time together with a set amount of $LMT and you’ll earn $LMT rewards for that period.
To keep things fair users will have to mix and match the NFT rarity. For example, 1 wallet will only be available to stake up to 5 high-rarity NFTs. While 10 will have to be a lower rarity.
Important You will not have to fill out all 15 slots to start staking. You’ll be able to stake any amount of cards (15 being the maximum).
Staking Pool Variety
We plan to have different staking pools open at the same time. That means there will be variety and some pools will require a specific kind of collection or card rarity to enter.
Having pool variety allows us to have a fair distribution mechanic and reward community members that have a diverse collection of Lympo NFTs, while not limiting those who are interested in just several key pieces.
We will be working together with our partners to bring you more rewards than just $LMT. Participating in partner pools will generate partner tokens.
This is a great time to join the Lympo NFT Minting Platform and enjoy monthly rewards generated through your collection.
No Duplicate Penalty
All Lympo NFTs are valuable! Even if you own duplicate cards, you’ll be able to stake them and take up multiple staking slots. We do not want to restrict or penalize users that own multiple copies of their favorite NFTs.
We’re here to make sure there’s always a reason to collect, mint, or trade Lympo NFTs and you don’t feel the pressure to only collect different cards.
Staking Periods
Users will have to stake their NFTs for a pre-set amount of time. While this period is still subject to change, we’ll experiment with different solutions until we find something that fits our community best.
However, we’re not here to limit the functionality or trade potential of our NFTs — that’s why you’ll be able to unstake and claim back your NFTs at any time.
The NFT staking platform is in its final stages of development. We’re making sure it’s easy to use, clear for everyone, and works as intended — the planned launch date is before the end of 2021. So, get ready to stake your NFTs, earn $LMT rewards, and continue to be part of the fast-paced growth of Lympo.
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