Framing (Staking)
A guide on how to Frame to Earn $SOC
The City is an interface where the user can manage its Apes and non-Apes NFTs. A user is able to purchase frames with $SOC and then stake NFTs in Frames to earn $SOC. You can upgrade your frames and more. In the future, you'll manage your craftsmen to build furniture and manage your cabins.
The team decided to make staking of Ape or non-Ape NFTs non-custodial. This means the NFT does not have to leave your wallet or ledger. Apes and non-Apes NFTs are and will be a ticket to many things, and we want to allow your ability to use your NFTs as a pass to those events. Doing this also eliminates any potential smart contract risk.
Frames are required to stake both Apes and approved non-Ape NFTs to earn $SOC. Every Frame features an upgrade level from 0 to a maximum of 7 — the higher the level, the higher the additional rewards combined with the Ape staking value. There is a cooldown period and a $SOC cost to upgrade Frames to a new level. Everyone can mint a level 0 frame for 1000 $SOC. All $SOC spent on minting and upgrading frames is burned to help diminish supply.
Only the original wallet that minted the Frame can use it for their NFTs. Artists' free Frames are also locked to the Artist, so if you sell or transfer the Artist, you won't be able to use the free Frame anymore, and the new holder will have to mint the Frame again.
The combination of deflationary and inflationary aspects could affect the price of Frames (in ADA); Frame costs may be adjusted as appropriate to ensure there are no significant barriers to entry for new investors.
Frame levels, its costs and cooldown times between upgrades.
How to Stake your NFTs
Staking Rewards
- 1.After buying your first frame, click on the "Staking" page, choose which Ape (or non-ape) NFT you wish to stake in the frame, and click on the button "Stake to Frame";
- 2.As soon as the pop-up appears, click on the frame in which you wish to stake your NFT, and finally click on "Stake to Frame" once again.
Note: Remember that Artist Ape Frames are locked to the Artist (cannot be used by any other Artist, address, Ape, or NFTs)
Depending on the class, Apes give different rewards and so do Frames - depending on their level. The total x's of the NFTs in a wallet will determine the share of the daily emission that a wallet will get. The formula is:
For example:
A holder has 2 Craftsmen, 1 Artist, 1 Explorer, and 2 non-Ape NFTs. These 6 NFTs are staked in 6 different Frames, all level 3. Total Points for all staked NFTs combined is let's say 21,000 and Daily Emission is 1,000,000 $SOCIETY:
2 Craftsmen rewards: 2*1x
+ 1 Artist rewards: 1*1.15x
+ 1 Explorer: 1*1.35x*(1 - 0.025)
+ 6 level 3 Frames: 6*0.5x
____________________________________
total = 7.3875x
By applying the formula above: 7.3875 / 21,000 * 1,000,000 = 351.8 $SOCIETY
Essentially, having a higher level frame will act as a buff for stealing for MOs and as a defensive armor from getting items stolen for Craftsmen.
Based on the chart below, you will add and subtract (from the initial 10%) depending on the level of Craftsmen and Military Officers frames.
As an example, a level 5 Military Officer will have a 14% chance to steal from a level 2 Craftsmen (10% + 6% — 2%), and a level 7 Craftsmen will never get its item stolen if the MO is in a level 0 frame (10% + 0% — 10%):
Coming soon!
Last modified 13d ago