Everything about staking your IOs
From 1st August 2022 at 8pm SGT, holders of Imaginary Ones will be able to stake their IO NFTs through the official website: https://world.imaginaryones.com.
Staking removes the IO NFT temporarily from your ETH wallet and locks it in a smart contract. Holders can choose to retrieve the NFT back to their wallet (unstake) at any time.
The primary reason for staking is that it allows us a way to share rewards and profits with our holders. As we venture into more collaborations and partnerships, holders can expect to receive a wide variety of staking rewards.
How to stake my IOs (Step-by-step guide)
- Using a desktop, head to https://world.imaginaryones.com. Make triple checks to ensure that you are on the right website.
- Connect the wallet that you kept your IOs in.
- Choose IOs that you wish to stake.
4. Confirmation is required.
After selecting the IOs that you want to stake, you’ll see a confirmation prompt. After clicking confirm, you will be presented with two signature prompts from your wallet.
The first one will ask for “approval for all” tokens that belong under the Imaginary Ones NFT contract. This gives the staking contract permission to move your IOs from your wallet. You will only need to approve this once.
The second one is for staking, this will move the chosen IOs out of your wallet into the contract and temporarily keep them there.
5. You can reap the benefits of staking by redeeming rewards so long as you keep your IOs staked.
6. Unstake to move the IO back into your wallet at any moment you like.
Staking Rank Structure
Your IOs will rank up over time, this is the current rank structure-
Wanderer: < 30 days staked
Adventurer: 30–89 days staked
Expeditionist: 90–179 days staked
Navigator: 180–269 days staked
Seasoned Explorer: 270–364 days staked
Multiversal Voyager: > 365 days staked
The longer you stake, the more chances you get, with better rewards.
Do remember to claim special items when they come. They will be helpful in the future 🤔.
For the launch, we have some rewards lined up for stakers.
- Giveaways — A lottery chance to win ETH or popular NFTs that are in the market
- Whitelists — All subsequent whitelists gained through collaborations will be for stakers only.
- Claims — Goodies that will be available for all stakers. Claim them all!
As more collaborations, partnerships, and profits come in, holders can expect a wider variety of staking rewards to drop. It is our commitment to provide value this way to our supporters continuously.
Other things to do when Staking
Once staking has stabilized in the first month, we’ll roll out the other components of the ecosystem.
- Quests (Work in progress) — Send your IOs out on quests to find goodies.
- Inventory (Work in progress) — Manage your loot. 🔥 them or throw them away. Your inventory, your rules.
- Achievement Badges (Work in progress) — Achievements can be earned through specific tasks that can give you certain boosts.
Staking will be available on 1st August 2022, SGT 8pm. It can be accessed through a desktop at https://world.imaginaryones.com.
Will higher rarities have better rewards?
No. There will not be better rewards across the board regardless of which IO you hold. However, legendary IO holders will have higher chances for reward redemptions.
What happens to my discord role?
For now, there will be no change to the roles inside discord. Although you’ve sent your IOs out from your wallet to the contract for staking, it will still be detected as yours, and you will still retain your “Holder” role.
Will I lose my rank if I were to un-stake my IO?
Yes, you’ll lose all progress made, and your rank will drop to ‘Wanderer’. By doing so, we wish to reward the true holders who choose to stake their IOs with us. Remember, we are in this for the long run!