YGG Launches New Reward Vaults
On July 27, 2022, YGG introduced the first iteration of its Reward Vaults Program, which saw over 3.5 million YGG tokens staked across two vaults for YGG game partners, Aavegotchi and Crypto Unicorns.
After successfully concluding the first set of vaults and establishing a strong baseline of participants, YGG will be introducing a new set of vaults as part of the program to deliver value to the YGG community while increasing their exposure to YGG’s partnered games.
As of November 13, 2022, YGG members with a Guild Badge are able to stake their YGG tokens on the Polygon Reward Vaults available at the YGG dapp. Rewards for these vaults will be available till February 12, 2023.
YGG will be offering two new vaults for the community to stake into:
League of Kingdoms (LOKA rewards)
LOKA is the governance token of League of Kingdoms that allows players to propose and vote on governance proposals to determine future features, policies, content, or parameters of the platform. The token can also be used to unlock NFTs and buy additional items and cosmetics within the game.
By staking their YGG tokens in this vault, players will be able to earn a bridged version of LOKA on the Polygon network. This token can be bridged back to Ethereum when participants feel it is fit to do so.
Thetan Arena (THG rewards)
THG is a governance and utility token that can be used as a medium of exchange between participants of the Thetan Arena ecosystem. THG also allows holders to create and vote on proposals made to the game. By participating in THG staking, members can lock their token to generate additional rewards and certain benefits.
Since THG is on the Binance Smart Chain (BSC), YGG has opted for a StakeDrop Vault where members will be able to stake YGG on Polygon and accumulate non-transferable “points” in the form of a token that represents a staking credit. The StakeDrop mechanism allows users to qualify for a THG airdrop of reward tokens based on the points earned from their staking activities.
After the vault closes, a one-week grace period will be given for participants to claim their points.
A snapshot will be taken of the point balances in order to create an airdrop of THG on BSC to distribute the reward tokens.
In this vault, each point accumulated represents at least one THG to be received during the airdrop. In order to mitigate dust transactions, YGG requires participants to have a minimum of 25 points in order to be eligible to receive an airdrop of THG tokens.
For both the League of Kingdoms and Thetan Arena Reward Vaults, users can start staking anytime they like. The earlier staking occurs, the sooner rewards start to accumulate. Likewise, users can claim their rewards anytime while the vaults are open. Please note the one-week grace period upon the Thetan Arena Reward Vault closing for the snapshot.
As we continue to evolve the Reward Vaults program over time, YGG members can expect a variety of vaults that are strategically created to deliver value to different player communities within YGG:
- More StakeDrop Vaults that will help reward tokens that are on different network chains.
- A new vault type that may feature a method by which one or more users could be rewarded with gaming NFTs.
- Vaults that are exclusive to participants of YGG programs like the Guild Advancement Program (GAP) or participants of a specific partnered game.
How to Participate in YGG Reward Vaults
- Have an existing YGG Guild Badge (see the guide here to mint your own Guild Badge in Polygon).
- Have YGG tokens on the Polygon network.
- Have sufficient ETH tokens to cover two transaction fees (if bridging YGG tokens from Ethereum Mainnet to Polygon network).
- Have sufficient MATIC tokens on Polygon to pay for transaction fees.
See the video below for a how-to guide on the YGG Reward Vaults:
To learn more about Yield Guild, read the YGG whitepaper here. Join the YGG Discord or follow us on Twitter for future updates.