y00ts Staking Goes Live

y00ts Staking Goes Live
In this post

Frank DeGods, the y00ts team, and Dust Labs have launched staking for y00ts, as announced via Twitter this afternoon.

The staking website is y00ts.com/staking, and it will work like this:

  1. Stake your y00t
  2. Earn y00tpoints
  3. Spend y00tpoints on rewards

It costs 1 $DUST to stake, per y00t NFT, and it costs 3 $DUST to unstake each y00t. The NFT will stay in the owner's wallet while staked.

Every minute staked will accrue 1 y00tpoint, and the y00tpoints remain attached to the NFT (even when traded). Points cannot be combined or traded separately. The team shares that points will be indexable metadata on major marketplaces "soon."

Rewards will include airdrops, physicals, and sponsored brand activations. There appears to be an indicator of "points until next reward" on the staking platform, and the team encouraged stakers by stating "You're going to want as many points as possible..."

The Dust Labs team also wants to onboard other Solana NFT projects onto their staking platform, and released a form for interested parties to complete. 

At the time of writing, the y00ts floor is at 121.5 SOL, up nearly 10 percent on the news, and listings have fallen by nearly 250.

The update also alludes to "something cool" coming for DeGods NFT owners next.

 

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice.
Sign up for our Newsletter. Daily updates on the biggest stories with expert analysis
By subscribing you accept the LuckyTrader Terms and conditions.