Land Staking

The following is a comprehensive overview of VulcanVerse land staking, a mechanism that allows landowners in the VulcanVerse virtual world to lock up their $PYR tokens and earn staking rewards. It describes the process of land staking, including land ownership, leveling, daily XP requirements, and the necessary steps to stake $PYR tokens. Additionally, it covers the role of gods, a collection of limited edition NFTs, in enhancing staking rewards, the distribution of staking fees, and important details about the staking reward pool.

Introduction

The concept of land staking is simple, yet powerful. We will look at the benefits and ease of use of staking. Land staking involves locking up $PYR tokens in owned VulcanVerse land to earn staking rewards. To begin staking, landowners need to acquire land, upgrade it to at least level 2 through sowing, meet daily XP requirements, make a $LAVA payment, and stake their $PYR tokens.

Land Levels and Staking Pool

VulcanVerse land starts at level 1 and can be leveled up to level 7, with each level offering greater staking rewards. The staking pool is shared among all landowners who have staked their land, promoting a collective and collaborative environment.

Overview

The staking process is simple, it involves a user opening a My Forge account, acquiring land and sowing it to upgrade. A user must regularly engage in Vulcan Forged ecosystem games, ensuring the accumulation of enough XP to upgrade their avatar (note – avatar upgrading is to be separated from the staking process, though there will be benefits to having an avatar at a matching level to land staked).

A user should burn a specific amount of $LAVA and ‘soft-lock’ the required $PYR tokens, allowing for the return of $PYR tokens if the staking is stopped.

Extra Benefits to Staking

In addition to the above, Vulcan Forged will announce the specific requirements and benefits of land staking prior to sowing at each level. For example, for staking land from level 3 to level 4 (July and August 2023), Vulcan Forged began a 30-day promotion to celebrate the dissociation of avatar levels and the staking process. Landowners with a Level 3 land were in line to get a 20% discount on sowing land from L3 to L4. Users were able to optimize their staking by ensuring their avatar level matched their land level. This meant a user with both avatar and land at Level 4 received a full landowner staking reward, whereas while staking with a lower-level avatar was possible, the user only got 50% of the reward. The remaining 50% being distributed to landowners with a matching avatar-land level.

Land Levels, Sowing, and Staking Fees:

There is a sowing cost in $PYR for each land level, ascending from the first upgrade (level 1 to level 2) all the way up to level 7. It is important to note that 10% of the $PYR sowing cost is now required to be paid in $LAVA. Additionally, the staking fee, comprising both $PYR and $LAVA, increases as the land level progresses. The staking fee in $PYR is soft-locked, while the staking fee in $LAVA is burned.

Maintaining Staking Rewards:

To sustain staking rewards, landowners must earn a specific amount of XP per plot owned in VulcanVerse each day. This daily XP requirement ensures that the plots remain fertile for staking. At present, the required XP for staking is capped at 200 XP for 22 land plots plus, though Vulcan Forged reserve the right to remove this cap in future. Users with smaller land holdings will require less XP, as illustrated on the graph. Cedalions, players that rent land to gain access to VulcanVerse, can assist landowners in meeting the daily XP threshold – XP earned by Cedalions contributes to fulfilling the landowner’s staking XP requirement.

Vulcan Forged is investigating whether XP earned in Berserk (our strategic blockchain TCG) and other side-games will also contribute to required staking XP, whether permanently or on a rotational basis, tied into the Vulcan Forged Game of the Month promotions.

Staking Process

Landowners can access both sowing and staking features through the ‘Sow Land’ tab in My Forge. By meeting the outlined criteria, landowners can initiate the staking process by selecting the ‘Stake’ button next to the corresponding land plot. Additionally, the detail page of each land plot provides access to sowing and staking functionality.

The God Effect

In VulcanVerse, limited edition god NFTs have a significant impact on staking rewards. Owned God NFTs are auto-assigned to land plots, allowing landowners to earn additional staking rewards, ranging from 10% to 70%, depending on the god’s level. Furthermore, Zeus and Cronus, leaders of the Olympians and Titans, provide extra staking rewards for three plots, based on their respective levels. Users with the god NFTs Hermes or Demeter held in their My Forge wallet, will see increased sowing speed (this applies to all sowing – whether land or NFT seed).

Staking Reward Pool and Future Considerations

A 10 million PYR reward pool for staking has been established, which will be released over a period of four years – at the time of writing, we are already part way into this pool with staking at a maximum of level 3. Vulcan Forged has made a recent decision that after the four-year period, if the buyback address has claimed more than 5 million $PYR, staking rewards will continue to be distributed in $PYR. However, if the buyback address has claimed less than 5 million $PYR, staking rewards will be distributed from a $LAVA pool instead.

The following wallet can be tracked in our Elysium Explorer 0xB24d83A71f0bf06fCcC0F4aA84c7A4A3E933bE25

This is the same wallet that sowing fees go to. The wallet will be filled through NFT buys, transaction percentages, token sales, Elysium Swap fees and other routes.

VulcanVerse land staking empowers landowners to generate income by locking up their $PYR tokens. By following the staking process, meeting XP requirements, and leveraging the god effect, landowners can maximize their staking rewards.