Faraland Releases Staking V3 Featuring New Rewards & More
The Staking V3 program comes with new rewards in varying lock periods for Faraland users to earn, while adding in a new EXP mechanism that lets you convert a certain amount of EXP into an EXP JAR tradable NFT, and introducing the Black Market through which you can gain exclusive items from a Magical Chest using Tickets.
The Faraland team has announced the launch of the Staking V3 update for their NFT RPG game, adding new rewards a new EXP mechanism while opening the Black Market.
This new version of staking officially went live on August 24th at 8 AM UTC, which was also the deadline for holders to claim their staking rewards from the V2 staking program. The old version closed at that time, with the team stating in the announcement that “we will not be responsible for any rewards you may lose.” Users can now unstake assets from that program and move on to the new one.
As for the changes made in the new system, users have a couple of different options to choose from, each differing in lock periods and rewards. You can stake using $FARA-$BNB LP or $FARA tokens, with new rewards added to the 0-6 months staking options. Users who choose the flexible option will receive EXP and $FARA with a 0% reward bonus, while options from 1 month to 6 months provide the same rewards, but with increasing reward bonus. If you choose the 1-month lock period, you get a 5% reward bonus, while the 6-month plan comes with a 30% reward bonus. The 6-month plan can also award you with Tickets called Knight Tokens and Royal Tokens, depending on how much $FARA or $FARA-$BNB LP you have locked.
The new EXP mechanism features similar formulas for calculating hero EXP points, but now comes with the added option of being able to withdraw a part of the earned EXP to an EXP JAR instead of having the points automatically distributed to the hero’s EXP Level as before. You’ll need 20k EXP in order to be able to convert them into 1 EXP JAR. You can then trade this NFT on the marketplace.
The Black Market is a special marketplace for redeeming rewards using Tickets (Knight Tokens and Royal Tokens). With these Tickets, you can buy a ‘Magical Chest’ from which you can get exclusive, limited items, including Legendary Crafting Items, Legendary Materials, Mythical Crafting Items, and more.
You can check out the full details on the new update using the link found in the tweet down below.