Staking is one of Heavenland's core mechanisms, closely connected to NFTs and DAO. All the required details are described in this Section.
Staking is a mechanism that allows a token holder to show trust in the project by locking their HTO for a given period. Staking is important because it reduces the supply of tokens in circulation and indicates how much people trust the project - the more tokens are staked, the greater the trust.
Staking in Heavenland is not bound directly to a user account but a user asset, e.g. a Parcel or Parcel Bucket. To stake, you first need to own something in Heavenland; the more you own, the more you can stake.
When staking, your HTO tokens and underlying NFTs are locked and only when the staking period ends you can withdraw them. You can claim your partial stake reward at any time. Still, you must be cautious as reward calculation probably differs from what you know from DeFi platforms (Heavenland's calculations are described further). It's possible to put multiple stakes on a single asset, but the sum of the staked HTO tokens cannot be greater than what the asset allows.
There can't be any stake on the asset for it to be tradable, yet staked asset can be still utilized within the Heavenland metaverse. To trade an asset with active stakes, you must wait for all of its stakes to end. Staking is essential in asset renting and defining Heaven Land's DAO.
Copy link