Introducing Sleeves: Earn Caching Rewards on your Individual Parallel Cards
Today, we launch Sleeves—our new solution that allows you to earn passive rewards on your individual Parallel cards, reducing the financial barrier to participate in Echelon Foundation’s Paraset Caching.
Sleeves allow you to contribute towards shared Parasets, and collect your share of their earnings—and soon, they’ll offer you the flexibility to play with your “sleeved” cards as if they’re in your wallet!
From those with 1 card to those with hundreds, everyone who Sleeves earns a share of the rewards.
Sleeve your cards now, only on Priming!
Learn more about Paraset caching in Echelon Foundation’s docs here.
Why Sleeves?
Parasets offer Parallel collectors ongoing $PRIME yield (fed by Prime Sinks) in exchange for staking a complete, specific subset of cards in the Echelon Foundation’s “Caching” smart contracts. But collecting a full Paraset can require a significant capital investment — a financial barrier for the average gamer. Even most who already cache Parasets have many “orphan” cards that could be earning rewards if they were in a Paraset.
Through Sleeves, we’re reducing these barriers by opening caching to all Parallel collectors. Sleeves enables automated, collaborative caching — helping you earn passive rewards.
With hassle-free depositing and pooling, there’s no need for complete sets to earn rewards—just deposit any assets you have. Our off-chain sequencing queues and smart contract will automatically complete Parasets according to which users deposited the necessary cards first.
The Sleeves smart contract was audited by Quantstamp. You can review the audit here.
How do Rewards work?
Though Paraset rewards are emitted in PRIME, we distribute Rewards for your Sleeved cards in the equivalent amount of PDT (after a 5% service fee), calculated based on your Sleeved cards’ asset state and rarity score.
How asset states impact rewards
When you Sleeve a card, it joins a queue so that when the relevant Paraset is complete, it can then be cached. Though the majority of Sleeves rewards will be directed to cards that form a complete/cached Paraset, we want to incentivize a healthy pipeline of cards in the queue, and so we carve out a percentage of the rewards for them, too.
Rewards are structured accordingly:
- 90% of total Paraset rewards are paid to Cached cards
- 5% of total Paraset rewards to Sleeved (Queued) cards
- 5% of total Paraset rewards are allocated to ParagonsDAO’s Treasury to continue funding future iterative developments
We have also factored cards’ rarities in order to appropriately reward users based on their opportunity cost.
How Rarity Scores impact rewards
Sleeves calculate all rewards based on a relative rarity score, a function of card supply. In short, rarer cards earn a greater share of the relevant reward pool, reflecting their demand as part of a Paraset.
For Cached assets, rarity scores are factored into the overall Paraset earnings. For Sleeved (Queued) assets, rarity scores are factored into a global pool for 5% of earnings.
How to claim rewards
You can claim the PDT rewards you’ve earned at the end of each epoch. The first epoch will run until approximately March 26, 2024 (45 days), with subsequent epochs lasting 30 days.
By default, your PDT rewards are directed to be staked in ParagonsDAO’s PDT Staking contract, amplifying your rewards by earning you additional PRIME. If you’d prefer to directly withdraw your PDT rewards, you can toggle this off under Settings > Preferences.
Coming soon: Play with your Sleeved cards in game!
Before long, you’ll be able to play with your Sleeved cards like they’re still in your wallet, ensuring you can still earn PRIME and Renown from playing with your cards while Sleeved. We’re working closely with the Parallel team to implement this feature.
Sleeve your cards and win!
If you sleeve cards in the next 14 days, claim this quest for a chance to win one of 3 prizes!
Winners can choose either a Prime Key hoodie (or a Paragons Portal draw)
