Pool Structures

The Stayking of NFTokens on StaykX will function very similarly to the Token Stayking mechanisms. Although, instead of users needing to allocate STX based on the current value of their 3rd party assets, the XRP value of STX needed to be allocated to each NFT, is a static number predetermined by the issuer.

Weighting

When setting up an NFToken collection for Stayking, the issuer will 'weight' all the NFTs within the collection with an XRP value. In order for users to earn maximum rewards from their NFTs, they will need to allocate enough STX to cover the XRP 'weighting' set for that NFT. NFT projects can also set higher 'weights' on their rare NFTs, meaning that the holders of rare NFTs from the collection can earn a higher maximum rate of rewards than those who hold common versions. It is completely up to the issuer as to what they set their 'weighting' at, some pools may require 10XRP of STX for each NFT and some may require 500XRP for each NFT. There are benefits to both, and we anticipate to see a lot of projects trying out different 'weightings' to find what works best for their collection and community. By having static XRP values needed to be allocated against NFTs, it should create a more stable Stayking environment, rather than having the weighting constantly changing trying to reflect the floor price or average price of a collection. There will also be competitive STX rewards for the top 3 NFToken Stayking pools based on total XRP value Stayked, this value takes into account both sides and therefore if a collection has a higher 'weighting' they are much more likely to feature in the competitive top 3 and have their pool reward Staykers in STX daily as well. The 'weighting' also means users can partially Stayk NFTs, as if they only allocate 50% of the required XRP value of STX needed to earn maximum rewards on their NFT, they are essentially Stayking 50% of that NFT.

Reward Types

Similarly to Token Stayking, the StaykX NFToken Stayking protocol is extremely flexible, and we have the functionality for NFToken pools to reward in any XRPL token, as well as multiple tokens. This creates the opportunity for projects to come to us with innovative and unique daily rewarding concepts, and we are able to look at ways we can integrate them within the StaykX protocol. We pride ourselves on being an ever-evolving platform, and we are always open to new concepts/ideas regarding daily passive rewards, and how we can help turn those ideas into a reality using the power of the StaykX protocol.