Gods Unchained Provides Updates on Staking Mechanism to its Community
This staking mechanism will reward players based on the $GODS token they held during that period.
Gods Unchained has finally shed more light on its staking mechanism – offering of the $GODS token – which will add more utility to the game. It is expected that more than a million $GODS tokens will be redistributed to players who will continue or start to hold the token in their IMX wallets and meet the eligibility criteria.
More than 80% of IMX wallets are estimated to be eligible, and this info will make the game’s community earn exciting rewards when they meet the criteria.
Rewards used in this staking mechanism will come from players’ activity, such as using the Forge and buying Expansion Packs. Therefore, redistributing this token back to the community is an incentive that will benefit the community.
Snapshots and Reward Criteria
A weekly snapshot will show how rewards are calculated and the eligibility criteria. Rewards are determined weekly, but players will lose their rewards If they don’t meet the eligibility criteria. This is to ensure players are rewarded for holding their tokens within a certain period and not just when they hold them long-term.
There are two parts to the reward. Surprise Rewards is 33% of the total tokens and will be delivered in a matter of weeks, while Ongoing Rewards takes 67% and will be delivered in batches of monthly snapshots.
A player must hold a $GODS token in an IMX wallet linked to Gods Unchained to be eligible for rewards. Then a player must either be a Player, Minter, Purchaser, or Secondary Market Buyer/Seller during that reward period.
Each reward will have a certain amount of the token to be shared, and each player will receive a fraction of this token relative to the size of their $GODS holdings during that period. The percentage of rewards is determined based on the minimum amount of $GODS a player held during that time.
For example, if a player holds 100 $GODS tokens and all players hold 1000 $GODS, the player will get 10% of the reward pool. So, if 3000 $GODS token is to be shared in that period, the player will get 300 $GODS.