NFT Staking — with a twist!

NFT Staking is here, but wait — there’s a twist!

Phew, it’s been a long and exciting journey to get to this point, and we are excited to finally announce that NFT staking has arrived! 🥳

For those of you with itchy staking fingers on BSC, staking is now live. You’re able to stake your Gold and Chromatic NFTs via the My Collection page as shown below. For those of you on Ethereum, please read on.

Ethereum NFT Staking: Exodus

When it comes to Ethereum — the Grand Poobah of chains — things are unfortunately not quite so simple.

We’ve always been mindful of transaction costs, and in ensuring affordability for everyone who uses the Raini platform. So, since last week’s Medium, we’ve been toiling away to reduce the gas fees required to stake, unstake, and claim Raini rewards from the contract.

Despite our best efforts, we’ve concluded that our innovative staking solution is prohibitively expensive on Ethereum considering current (and potential future) gas prices.

Even with gas at relatively low levels, we’re still looking at anywhere from 0.03–0.05 Eth 😱 for most interactions with the contract. This is due to the way stamina needs to be tracked for every NFT staked within the contract and could not be significantly reduced.

With this in mind, rather than launch NFT staking on Ethereum, we have made the decision to accelerate our expansion plans — and will be launching Raini on Fantom nex week 👻!

Fantom — fast, cheap, decentralised. Really.

NFT staking & bridging will be avaialble at token launch or soon thereafter. For everyone who opts to bridge their NFTs to Fantom, we can assure you that the cost to bridge is itself lower than staking would have cost on Ethereum and claiming + unstaking will be minimal on Fantom. Plus, as an added benefit, your Gold and Chromatic NFTs will be on the right chain for future utility in the RTLOL game universe.

We will provide further information around our Fantom launch in another Medium later this week.

Unicorn Bonus!

In addition to the $RAINI token rewards, all Golden and Chromatic NFTs will also earn Unicorns while staked.

The earning rate is defined as follows:

  • Golden: Per point of max stamina — 0.4 🦄 per month
  • Chromatic: Per point of max stamina — 4 🦄 per month

For example, a Golden NFT with 100 stamina would earn 40 🦄 per month, for a total of 320 🦄 over 8 months.

Stay tuned for a number of additional rewards we have in store for Golden and Chroma NFT holders, as well as some upcoming dope Unicorn-only NFT drops.

More details on NFT staking can be found in our previous Medium here.

See you all real soon for more around our Fantom strategy 👻

Raini Discord: https://discord.gg/Hfrjjd3SV6

Telegram: t.me/rainicornchat

Raini NFT Platform: raini.io

Raini Launchpad: raini.io/launchpad

The Lords of Light OpenSea: https://opensea.io/collection/rtlol

Twitter: twitter.com/raini_coin (cashtag = $RAINI)

Pancakeswap: Buy on Pancakeswap

Uniswap: Buy on Uniswap

Ethereum & BSC Contract: 0xeb953eda0dc65e3246f43dc8fa13f35623bdd5ed

Etherscan, DEXTools + more: https://raini.me/linktree

--

--

--

Building an NFT-supercharged DeFi and Gaming Universe

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Polyient Games and Gala Games to Bring GALA to Polyient DEX

Solana, is it worth the investment?

[How-to stake] A step by step guide to staking your $AVG Token

The Uncharted Territory of Post-ICO Engagement

BINANCE FUTURES; Your Future is Now!

2020 Changed FinTech — What Will 2021 Bring?

The Beginner’s Guide to Bitcoin Arbitrage

Select the Best NFT Art Marketplace for You

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
$RAINI

$RAINI

Building an NFT-supercharged DeFi and Gaming Universe

More from Medium

Raising the (NFT) Stakes

LiveOne, Cere and Polygon Partner to Launch NFT Platform and Utililty Token for Music…

Netvrk Token Listing on MEXC Global Exchange 🔥

🔥 Development Update: Climate Parliament DAO, Metaverse & Website 🌎