Staking Through The Storm
NFT Staking, Governance, Unicorn Club, and a Giant Black Swan
Wow — what a whirlwind of a week it’s been! In the face of current market conditions, we want to firstly reassure everyone that Raini has positioned itself to fully prepare for any possible headwinds that we may face (our treasury is all stabled up).
As with the mid-year correction in 2021, we are committed to continuing to build, grow, and deliver value to our community throughout whatever the market throws at us.
To that end, after a lot of work overcoming a number of unexpected issues, we are thrilled to confirm that NFT staking will finally be launched next week — we got you, fam!
Gold & Chromatic NFT Staking
Soon™ has finally arrived — final testing of Golden and Chroma NFT Staking is currently underway, and we have pencilled the grand launch for next week! See below for all of the juicy details.
- We will be launching two separate pools — one for Golden NFTs and one for Chroma NFTs — and will be allocating a set amount of $RAINI to each pool, which will be earned by all NFTs staked within it.
- A staked NFT will continuously drain a percentage of its maximum stamina over time, and will continue doing so until it is unstaked or its stamina is fully depleted.
- The relative earning rate of each NFT will be directly correlated to the amount of stamina expended in this way.
- Note that these NFT staking pools will only remain open for a period of approximately 12 months from the date that they are launched.
Since it will take a number of months for an NFT to fully utilise its stamina, we encourage all Golden and Chroma NFT holders to consider staking their NFT’s as soon as possible, in order to extract the maximum value out of them during this window of opportunity.
More specific details on NFT staking will be released next week.
This brings us to our next major announcement…
One of the primary reasons that we need to limit NFT staking pools to a ~12-month lifetime is that, unlike many projects which hold back a significant number of total tokens for emissions, almost all of RAINI’s token supply was put into circulation from day 1.
This approach allowed token holders to maintain confidence that their relative $RAINI holding percentages would never be diluted, unless they chose to sell or transfer some of their tokens. However, this tokenomic model comes with its limitations — specifically around the ability to consistently distribute $RAINI tokens as rewards over the longer term.
To this end, in order to provide more sustainable long-term incentives to rare NFT holders and community members, we’ll be shifting away from the Golden and Chroma upgrade mechanic for future NFT drops, and are unlikely to release stamina potions.
Instead, we’ve already begun establishing the infrastructure to enable protocol governance, with Golden and Chromatic NFTs being conferred with significant weight. These rights will include voting power on key decisions such as protocol revenue distribution, decisions on future game projects, voting on gameplay mechanics, and helping select potential incubation projects.
There are other key benefits, as well as other key Raini ecosystem developments (which we are still in the process of finalising, so cannot be announced in this Medium) — suffice to say though, we’re very excited to share everything with you shortly.
More details will be announced very soon, but we wanted to highlight this upcoming significant incentive for Golden & Chroma NFT holders (beyond the $RAINI yield that will be available from the NFT staking pools for a limited time).
Following our last Medium post, we received some honest and valuable feedback requesting additional Unicorn benefits.
In light of this, we have decided to introduce two key changes for all Raini Platform drops (excludes partnership drops). Note that these additional perks will apply to Unicorn holders who opt to purchase NFTs and pay for them 100% using Unicorns, and may not be ready for the next drop as we will need to tweak our functions contracts.
- Zero platform mint fees. Unicorns + gas and the NFT is yours.
- Early NFT drop access. We will be trialing giving Unicorn minters a headstart, helping to limit gas wars and to ensure that our keystone community members get first dibs on future drops (note that wallet limits will still apply).
Beyond the above, we’re also working on a number of additional Unicorn-only exclusives and incentives (in addition to the Unicorn-only card packs that were introduced in the last Medium), so stay tuned.
New card reveal
This week’s market crash may not technically qualify as a Black Swan event, but that doesn’t stop it feeling like one for many, so we’ve decided to reveal the card of the same name this week:
- Classification: Common Purple Creature
- Play Cost: 2 Purple Gems + 3Colorless Gems
- Stats: 10 Power / 10 HP
- Game Text: Destroy a random non-icon minion. Gain its power and HP
Black Swan is one of Purple’s most basic creatures. It perfectly depicts the theme of purple’s archetype, which revolves around chaotic disruption.
In the right circumstances, playing this card could clear one of your opponent’s biggest threats and leave you with a strong minion yourself. In the wrong circumstances, it could remove your own biggest minion — so use it wisely!
Until next time!
Raini Discord: https://discord.gg/Hfrjjd3SV6
Raini NFT Platform: raini.io
Raini Launchpad: raini.io/launchpad
The Lords of Light OpenSea: https://opensea.io/collection/rtlol
Pancakeswap: Buy on Pancakeswap
Uniswap: Buy on Uniswap
Ethereum & BSC Contract: 0xeb953eda0dc65e3246f43dc8fa13f35623bdd5ed
Etherscan, DEXTools + more: https://raini.me/linktree