With the launch of KawaTools NFT staking dashboard just hours away, we want to explain some of the NFT staking mechanisms and benefits of staking your Kawakami NFTs.
The idea behind the Kawakami NFT staking platform is to create more value for our NFT collections and incentivize our NFT collectors to hold on to their Kawakami NFTs to reap the most benefits.
How will staking work?
You will be able to connect your wallet on the staking dashboard and choose the Kawakami NFTs you want to stake. In order to be able to stake, your wallet needs to be set to the Ethereum network and you must hold the NFTs in your wallet.
Once you select the NFTs you want to stake, you will need to confirm the transfer of NFTs from your wallet to the staking contract. Please note that every staking and unstaking action incurs an ETH gas fee. You will be able to stake individual or multiple NFTs at once.
As soon as the NFTs are staked, you will be able to track the reward accumulation on the dashboard.
Are the staking contracts audited?
The contracts are currently being audited by SolidProof, the audit reports will be published on our website as soon as they’re completed.
Are the NFTs locked on the dashboard once staked?
You will be able to unstake your NFTs at any time with no lockup period. You will also be able to claim your accumulated KAWA token rewards daily.
What are the NFTs we can stake on KawaTools?
At launch, you will be able to stake the NFTs from the following collections:
Kawakami Generation 0
This collection is the main genesis collection of the Kawakami ecosystem.
This collection was created as a reward for loyal Kawakami supporters who helped the team and the community during our token relaunch in March 2022. There are only 66 of these NFTs available with all having the same art, symbolizing rise from the ashes, a new start for Kawakami.
Kawakami Aegis Protocol
This is a limited collection intended to reward our community members for completing various tasks, helping grow the ecosystem, and winning the giveaways. There will ever be a maximum 10 of these NFTs.
Each NFT will have a different staking power, the higher the power, the more KAWA your NFT will earn.
What are the staking power tiers for different NFT collections?
- Generation 0 will have a staking power of 1
- Ascension will have a staking power of 0.2
- Aegis Protocol will have a staking power of 10
- Generation 1 (yet to be launched) will have a staking power of 0.4
How will the rewards be calculated?
The KAWA token rewards per day will be calculated as follows:
Total Staking Pool / Total Staking Power * Your Staking Power
This means that your KAWA earning potential will be a percentage share of the overall pool.
The more NFTs you have staked, the more KAWA tokens you will earn. This will apply to both the initial KAWA staking pool and any subsequent pools.
What is the total allocation of KAWA tokens for the staking rewards?
The total amount of tokens that will be distributed daily to all NFT stakers is 33,245,451,225 $KAWA tokens.
This is the address holding the staking pool tokens at this time. These tokens will be transferred to the staking pool contract at launch.
How long will the staking pool last?
The first staking pool is set to last for 30 days. At the end of that period, the staking pool rewards will reach 0 tokens and we will close the pool, however we plan to have subsequent staking rounds in the near future.
Can I still mint the Generation 0 NFTs to stake them?
The collectionis currently available for minting on our NFT site here. The mint price is 0.045 ETH, with a maximum of 5 NFTs mintable per wallet.
When does KawaTools staking launch?
Kawakami staking dashboard launches as part of KawaTools MVP (Minimum Viable Product) today, September 21st. The exact hour of the launch will be announced on our Telegram, Twitter and Discord channels so stay tuned for updates!