CashCow NFTs Staking feature release.
We officially announce the launch of the Staking NFT Feature on the CashCow DApp.
Holders of NFT Genesis or NFT HappyCows can generate yield in $MILK tokens by depositing their CashCow NFTs into the 2 new NFT Staking pools now available on our Dapp.
Operation of the NFT Staking Pool:
The $MILK used as a prize does not come from the mint as it happens with conventional staking pools, in this case, a deposit was created with funds that come from 3 main sources:
- NFT Marketplace transaction fees.
- From the sale of the NFT Happy Cows.
- From the team wallet.
The deposit created is 50 million $MILK token from the aforementioned wallets and will be used to reward the participants of the 2 NFT staking pools (25 million $MILK each), that is, Genesis and HappyCows.
At the beginning, a duration of 6 months is established as a farming period in the Staking NFTs pool:
When the staking approaches 6 months of operation, we will assess the possibility of extending the farming time, at the same time that the distribution can also be increased or decreased, adjusting it to the need and circumstance of the moment (number of NFTs in the pools, $MILK available, etc.)
NFTs cannot be in the marketplace and in staking at the same time.
This new staking mechanism aims to offer a 25% ROI on the NFT HappyCow price and 250% ROI (proportionally to HappyCow in $MILK) for Genesis NFTs in the 6 months of farming for NFTs deposited from the StartBlock to the EndBlock.
The scarcity of NFTs is related to their MilkPower, in the case of NFT Genesis being 10 times scarcer than HappyCows, they have 10 times higher MilkPower, resulting in higher profits in $MILK.
It is important to bear in mind that the emission can be adjusted to avoid unfair whale behavior and that the distribution of the fund is as decentralized as possible.
Harvest of yields
We have optimized the smart ones to guarantee that the Harvest of the yields produced by the NFT in staking can be done simultaneously using a single instance of Fee, unlike its later version where each harvest represented a Fee for each NFT deposited in Staking, resulting in a much cheaper fee when reaping returns from multiple NFTs.
Start earning token with your NFTs in the CashCow decentralized app: https://app.cashcowprotocol.com/
We are ready for the staking of NFTs Genesis and HappyCow. The date will be marked by the BSCScan block 15860000. That, right now, is estimated for next Monday, March 07th at 19:25 UTC.
IMPORTANT: In the DApp you are already seeing the menu with the functionality, but DO NOT stake YOUR NFTs in the pools until we reach the 15860000 block mentioned above because it will not work and you could see a very high fee until the moment arrives.