Staking
Staking is one of Heavenland's core mechanisms, closely connected to NFTs and DAO. All the required details are described in this Section.
Last updated
Staking is one of Heavenland's core mechanisms, closely connected to NFTs and DAO. All the required details are described in this Section.
Last updated
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.
Staking is fully managed by Heavenland's Staking Program on the Solana blockchain. To enable staking on your account, you must first initialize your staking account, which will hold data about up to 100 of your stakes on Solana.
The staking account creation will come with a one-time payment of approx. 0.05 SOL (it's paid to Solana as a rent-exempt)
Reaching 100 stakes limit is easier than it may sound. That's where Stake Merging comes in.
Stake merging relates to all stakes bound to a given NFT and allows creating a single stake from them. The resulting stake has
staked HTO: sum of staked HTO of stakes being merged
start time: maximum of start time of stakes being merged
end time: start time plus maximum of stake periods of stakes being merged (stake multiplier is derived from the max period)
rewards of all stakes being merged are claimed
Heavenmarket shows preview of the resulting stake. It's highly recommended to check that preview before confirming transaction to avoid some unintended results.
