Earn $MATIC by Staking Your Watda F*sh NFT - Join Now!
The higher the floor price, the higher rewards you can share. Don't Let Your Watda F*sh NFT Collect Dust - Put It to Work and Earn $MATIC!
Hey there Watda Fish community,
I'm Min Chou, the owner of the Watda Fish NFT project. I wanted to take a moment to talk about our staking vault, which is a big MOVE on April 6th.
For those who may not know, our staking vault allows holders of Watda Fish NFTs to earn additional rewards by staking their NFTs for a certain period of time. The longer you stake, the higher your rewards will be.
The higher the floor price, the higher rewards you can share. This is because a higher floor price will incentivize more users to stake their tokens, increasing the total amount staked and therefore, the rewards that will be distributed among all stakers.
Formula: Floor price x APR / 365 {days} = Total reward/day/NFT
The APR for stakers is tiered based on the duration of the stake. For those who stake for 30 days, the APR is 1.3%. For those who stake for 60 days, the APR is 1.8%. And for those who stake for 90 days, the APR is 2.3%. This creates a flexible and accessible system that rewards those who choose to stake for longer periods of time.
Month 30 days: 1.3%
Month 60 days: 1.8%
Month 90 days: 2.3%
All beholders can join the staking vault, giving everyone an opportunity to earn additional rewards beyond the initial purchase of their NFTs. And if you withdraw your NFTs early, there will be no rewards.
Rewards will be paid in $MATIC: All rewards earned through staking will be paid in MATIC, the native token of the Polygon network.
Latecomers still have a chance to join the staking pool, and their rewards will be recorded starting from the initial day they enter: Even if you miss the start of the staking period, you can still join the pool at a later date. Your rewards will be calculated based on the number of days you have been staking. For example, if the staking period is 30 days and you join on day 10, your rewards will begin accruing from day 11 until day 30.
At the end of the staking period, you will be able to claim both your rewards and any NFTs associated with the staking pool in a single transaction. We will provide guidance on how to do this.
Floor prices will be snapshotted daily: The floor price will be recorded and updated on a daily basis, so you can track the minimum amount required to stake in the pool.
Please note that if you stake on T-1 Day, your staking reward will be recorded from next day. In case you stake on T-30 Day in 30-day staking pool, there will be no reward.
Thank you for your continued support, and we look forward to bringing you more exciting updates in the future.
Happy staking!
Best,
Min Chou.