Benefits
With the aforementioned motivations in mind, the key benefits of staking come in 5 forms:
Rewards
The first benefit of staking is, of course, providing GENE Token rewards from the allocated reward pool. GENE Staking rewards earned are locked for 1 year by default, but can be withdrawn without lock as sGENE which, though usable in-game, have no protocol-designated liquidity.
Distributions
NFTs, tokens, or other assets distributed to stakers from time to time. This could be from a NFT airdrop, or from a new token launch (KI tokens). It may or may not be locked as it’s case dependent.
Initial KI Token Generation via Lockdrop
The initial generation of KI Token will be distributed to GENE token stakers via lockdrop and sold in a fair launch on Strata. KI Token is the in-game utility token that is earned in-game and burned through various game mechanics to stabilize the game economy.
In-game Boosts & Early Access
GENE Token stakers are given preference and additional benefits with regards to in-game mechanics, from time to time, based on particular campaigns or in-game seasonal quests. For example, KI earnings boosts, Private Beta access, whitelisting for future NFT Sales, and early access to other new features are all GENE Token Staking benefits.
Governance Voting
GENE Token stakers will be entitled to vote on governance decisions like future token emissions, provide input on game mechanics, and participate in other foundation-related decisions as we work towards more community involvement in every aspect of the game. Governance voting weight is determined by the amount of time remaining in the lock period.
Last modified 1yr ago