📥STAKING GUIDE (ENG)
Last updated
Last updated
- STAKING Category Once the Staking Service launches, a new category called STAKING will be added on MYDIMENSION platform. In this category, you can check out the staking information, claim, and process a staking contract.
- Wallen Connect In order to participate in Staking, your wallet must be connected on MYDIMENSION platform. The platform supports Ethereum mainnet, and I recommend using the Metamask wallet. The Decent wallet can be connected through mobile browser, and the Ledger wallet through desktop. Once the wallet is successfully connected, the wallet will be colored red, and it will automatically bring the wallet information.
- Reward Efficiency Graph Based on Staking Period (Staking Reward Rate) Click the Staking category, where you can see ‘DIMENSION STAKING’ and a graph. This graph shows the Staking Reward Efficiency Rate by Staking Time, and the graph increases from 0 to 100% for 30 days. Reward rate affects real-time reward stacking. Reward Efficiency Rate stacks up for 30 days since the reset, The reset occurs when New Staking / Unstaking / Claim Reward happens.
- Staking Reward Halving Rate Table $DMS (DIMENSION Token) that is distributed as a reward will be halved 25% every year. You can check out the exact number at Halving Rate Table.
- Staking Time Real time Staking Period can be checked through Staking Time. In case of newly stake / Unstake / Claim Reward- the Staking Time will be reset, so please be aware when making a change on Staking Status.
- Set Bonus Set Bonus is an additional Hash Power provided when KPOP CTzen NFT V1 and V2 are staked together as a Set. The Bonus Hash Power is as followed, 2 or more Sets staked – 3%, 6 or more Sets staked – 5%, 9 or more Sets – 7%, 12 or more Sets – 9%. Set Bonus does not overlap, and the highest bonus rate will be applied on the total Hash Power. For instance, if you stake 30 V1 and 30 V2 as a set, 9% bonus rate for 12 sets will be applied on all 30 sets.
- Total MHP Total MHP shows the total hash power of all staked NFT groups with a set bonus applied.
- Total Claimed The total claim represents the amount of $DMS that has been claimed and moved to the wallet.
- Earn Earn shows the computed reward(reserved Rewards based on Reward rate over time). In the auxiliary figures below (At 100%), you can see the reserved rewards for 100% reward rate. auxiliary figures are shown up to 30 days.
- Balance Shows stacked rewards.
- Reward Summary Shows Earn plus Balance. Shows the total amount of rewards you actually have in real time.
- CLAIM Button Click the Claim button to move the Reward to your Wallet. Claimable $DMS is between 1,000 and 50,000 $DMS. Maximum Claimable $DMS is automatically calculated when claiming the Reward.
- SELECT NFT On MYDIMENSION platform, you can see the NFTs that can be Staked. Token ID, Image, and Hash Power is shown. Not only KPCT V1 and V2 which can be Set Staked, Prologue, Membership, Bros Lounge NFT can also be Staked.
- STAKE Button Select the NFT to stake and click the STAKE button. When the Staking is completed, Staking Time will be reset.
- CLEAR Button Click the CLEAR button to unselect the selected NFT.
- STAKING POOL Staking group’s information can be found out at Staking Pool, and you can also Unstake here.
- UNSTAKE Button Click the Unstake button to cancel the Staking of the selected group. When the Unstaking is completed, Staking Time will be reset.
- Choose the NFT to stake at ‘SELECT NFT’ Check the Hash Power of the NFT and choose the NFT to stake at ‘SELECT NFT’. KPOP CTzen V1 and V2 can be staked together as a Set, simply select one V1 and one V2, then click the Stake button. For Single Staking, select one NFT and stake. Click Clear button do unselect.
- One-time Signature is required for each collection Select the NFT and click the STAKE button to proceed. Staking for each collection (V1, V2, Membership, Prologue, Bro’s Lounge) requires a one-time Signature. For instance, if you want to Set stake one V2 and one V2, one-time signature is required for each V1 and V2, twice in total. After that, staking V1 or V2 does not require a signature, however, staking other collections such as Membership, Prologue, or Bro’s Lounge requires a one-time signature.
- Staking Signature When proceeding with the Staking, a signature is required for the Staking Contract. Once successfully signed, Staking will be completed, and it can be seen at the Staking Pool.
- Check the Information about Staked NFT Group At the Staking Pool, you can see the Staked NFT’s Token ID, Image, and Hash Power. Staked NFTS cannot be found at Select NFT. Lock-period does not exist, where you can freely Unstake at any time, and a transaction sign is required when Unstaking.
- Reward Efficiency based on the Staking Period (Time) The first thing you see on the Staking Category is the Staking Efficiency Rate Graph. Staking Efficiency Rate affects the stacked Reward in real time. From day 1 to 30, the Efficiency Rate rises from 0 to 100% (Indicated with Green Line), which will be applied to the stacked Reward, that can be Claimed to Earn. Staking Period and the Green Line will reset and start over from 0 when there is a [New Staking / Unstake / Claim Reward]. After 30 days, Efficiency Rate reaches 100%, which means that you can fully stacked the reserved Reward in Balance. Graph (Staking) Time and Reward Rate can be updated in the future, in order to benefit the long-term holders, the most.
- ‘Set Bonus’ of 2SET = 3%, 6SET = 5%, 9SET = 7%, 12SET = 9% When Set Staking KPOP CTzen V1 and V2 together, an additional Bonus Rate will be applied based on the number of sets staked. +3% for 2 or more Sets, +5% for 6 or more Sets, +7% for 9 or more Sets, and +9% for 12 or more Sets staked. The final Hash Power with Set Bonus applied can be seen at Total MHP.
- Reset before 30 days: Accumulated Reward during the Period x Staking Reward Efficiency Rate (%) - Reset After 30 days: Claim the Accumulated Reward 100% fully When an action that resets the Time occurs (New Staking/Unstaking/Claim Reward), the reserved reward will be stacked in Balance, and a New Period begins. Reward is affected by the reward rate based on the total MHP and the staking period. $DMS distributed in staking is reduced by 25% per year. Reward Rate increases for 30 days from 0 to 100%. The moment when the Action that resets Staking Time occurs, reserved Reward is compute and stacked based on the Reward Rate at that exact moment. After 30 days of Staking. reserved Reward can be 100% fully compute and stack in Balance
How Staking Time Period Reset Works Begin Counting Staking Time - Reward will occur according to total MHP - Reward Rate is applied based on Staking Time - Actual Reward is 'Reserved' based on the Staking Time - New Staking / Unstaking / Claim 1-6. Staking Time Reset - Actual Reward is 'Compute' and 'Stacked' based on the Staking time (+ Claim, when to use claim button) - New Staking Time Start Counting
- Minimum Claim amount is 1,000 $DMS, and the maximum is 50,000 $DMS Earned reward can be sent to the wallet. This feature is called Claim, which has a daily minimum and maximum. Minimum claimable reward per claim is 1,000 $DMS, and the maximum claim available is 50,000 $DMS per day. The ‘day’ starts from the moment Staking Time has been reset. Staking Time resets when you Stake / Unstake / Claim.
- Claim the reward and sign on the transaction to send $DMS to your wallet Claim requires a transaction signature. When you complete the Claiming, you can see your $DMS in your wallet. The address of the $DMS is 0x217f218fe9eB1Ef180FA4Dae75ebA6Bdf568084a.
Q: When does the Staking Time Reset? A: Please note that you must Stake for 30 days or more to Fully stack the reserved Reward. If you Newly Stake / Unstake / Claim Reward BEFORE 30 days, the reserved Reward cannot be fully stacked.
Q: What does ‘100% Efficiency Rate applied after 30 days’ mean? A: When New Staking / Unstaking / Reward Claim happens, the Staking Period resets, and the reserved Reward is stacked based on the Efficiency Rate. You can stacked the percentage of the reserved Reward when it resets before 30 days. When the Staking Time resets after 30 days, you can fully stacked the reserved Reward.
Q: Is there any locked period for the staked NFT? A: There is no locked period for the staked NFT. However, the Efficiency rate differs based on how long you’ve been staking your NFT.
Q: How many $DMS is distributed for the staking? A: 5 billion $DMS will be minted, and the 15% or 750 million $DMS will be used as a staking reward. 100 million $DMS out of 750 million is a backup token, and the 650 million will be distributed for 10 years, with a 25% halving rate per year. Non-distributed tokens will be burnt.
Q: Does a gas fee occur when staking? A: Since we are using the Ethereum chain, there will be a gas fee for each transaction sign. Gas fee is the fee that contractor pays to the Ethereum foundation. Gas fee can change depending on the Ethereum chain traffic, which can be checked on etherscan.io.
