NFT Staking Boost
Last updated
Last updated
As an added utility and benefit of ownership of a Dogs of Elon NFT, we offer an APR boost incentive to stake an NFT alongside your KDOE tokens. When you stake your Dogs of Elon NFT you will get a boost to the Annual Percentage Rate (APR) rewards on your staked KDOE tokens.
The rewards structure is simple and is built so that NFT boosting makes sense for as many of our KDOE holders as possible.
Start Staking Now: Kudoe.io/staking
The maximum number of NFTs that can be staked is 1.
By staking a single Dogs of Elon NFT your KDOE staking rate will receive a boost of 10% of the current APR. This means if the current APR level is 20%, then by staking a single NFT, you will receive a boost of 2% on top of the 20% APR you are already receiving, making your effective KDOE staking APR 22%.
It is important to note that the amount of the boost is a percentage of the current APR.
This means if the APR increases or decreases, the boost will also increase and decrease in conjunction with it. The boost will always be 10% of the CURRENT APR
For example: KUDOE STAKING POOL APR = 29% NFT BOOST = 2.9% KUDOE STAKING POOL APR = 22.5% NFT BOOST = 2.25% KUDOE STAKING POOL APR = 17% NFT BOOST = 1.7%
By limiting the number of NFTs able to be staked to one, the team hopes to decrease the amount of ETH community members use on gas to stake and unstake your NFT. NFT staking can be quite costly, especially if Gwei is high. We want you to keep your boosted KDOE rewards not spend it all on gas!
Only Stake an NFT if you are already staking your KDOE Staking an NFT alone will not yield any rewards unless it is accompanied by a staked amount of KDOE.
This incentive program adds extra value and utility to the Dogs of Elon NFT collection.
We highly recommend closely monitoring the Ethereum gas price, measured in GWEI, when performing operations related to staking of NFTs. It is important to note that the gas fees associated with NFT transactions tend to be higher due to the increased computational power required. In order to avoid unnecessary expenses, it is advisable to stake or unstake NFTs when the GWEI is at a lower value, so as to minimize the amount of gas fees incurred during the transaction.
