NFT Staking
What is NFT staking and how does it work?
Minted now supports NFT staking for the “Cronos Cruisers” collection. A maximum of five “Cronos Cruisers” NFTs can be staked at any one time and you’re free to select which ones in your collection you’d like to stake.
An additive multiplier applies to every NFT staked, and will be applied to all vaults simultaneously. Additive multipliers have a limit of 1.5x, bringing the total multiplier limit to 2.5x.
Each NFT rarity tier has its own additive multiplier. See the table below for more information:
Rarity | Additive multiplier |
Legendary | 0.5x |
Epic | 0.2x |
Rare | 0.1x |
Common | 0.05x |
For example, if you have one “Legendary”, two “Epic”, and one “Common” NFT, the cumulative additive multiplier will be: 0.5 + 0.2 + 0.2 + 0.05 = 0.95.
Therefore, the total multiplier will be 1 (base) + 0.95 (additive multiplier) = 1.95x. When you stake NFTs, MBOOST tokens based on the additive multiplier will be minted, and this will determine your share of the vault emissions.
When you unstake NFTs, MBOOST will be burned, based on the reduction in additive multiplier from the unstaked NFTs.
Staking and unstaking your NFT
Staking your NFT(s)
Click Rewards in the top navigation panel
Select Deposit MTD
Click Boost Now in the Stake Cronos Cruiser NFTs to Boost Rewards section
Select up to five “Cronos Cruisers” NFTs that you would like to stake and click Stake
Approve the signature from your cryptocurrency wallet when you reach the Staking Confirmation page
You’re all set! You should now see a transaction confirmation pop-up.
However, if you try to stake your NFT(s) but do not own any eligible ones, the following message should appear, telling you that it’s time to snag a “Cronos Cruisers” NFT!
Staking more NFTs to boost your token rewards
Click Rewards in the top navigation panel
Select Deposit MTD
Click + / - in the Stake Cronos Cruiser NFTs to Boost Rewards section
Select the NFTs that you would like to stake (maximum is five)
Click Stake
You’re all set!
Unstaking your NFTs
Click Rewards in the top navigation panel
Select Deposit MTD
Click + / - in the Stake Cronos Cruiser NFTs to Boost Rewards section
Select the NFT(s) that you would like to unstake
Click Unstake
You’ve successfully unstaked your NFT(s)! Please note that your vault boost multiplier will change according to the rarity and number of NFTs that you’ve unstaked.
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