💰Staking via Crafting
Earn rewards with Crafting: Staking & APY Explained
Intro
We have a special system that combines making items in the game with $ALICE tokens. This gives an advantage to our community and gives our dedicated players a special reward. But there's more to it. We are innovating and keeping our promises from our whitepaper. By connecting staking with making in-game items, we stay true to our commitment to our players from the beginning.
Also, our combination of staking and crafting in-game items aligns perfectly with our brand strategy. Branded items require $ALICE tokens as collateral, making them more valuable in the digital market by providing them with a guaranteed floor price.
How does it work?
When a user crafts an item (mints an NFT) in the game, a portion of the purchase price goes into an account connected to the item: we call this the collateral. Please be aware that the specified percentage is not fixed and may also vary depending on specific items (depending on the rarity; for example, more information will be shared over time!).
In Alpha Season 4, of the selling price of all the items crafted with $ALICE token, 50% of the amount will be counted as collateral. These items can be staked via Marketplace during the Alpha Season. After the Alpha Season concludes, players will passively receive rewards for each item crafted and collateralized with $ALICE tokens, a system we refer to as staking.
Example:
If you paid 10 $ALICE to craft a table, then 5 $ALICE will be counted as collateral that could be staked, and you will earn rewards for that.
Each item maintains a balance of $ALICE. This is beneficial because the item has a guaranteed floor price, ensuring the NFTs always have a guaranteed value.
A player can destroy an item and reclaim the collateral amount. Of course, you may choose to keep the item and continue using it in the game and/or earn rewards by staking it. If and from the moment you burn the NFT, you will not be able to recover the NFT or any reward attached to it.
How to stake?
You can easily monitor and manage staked $ALICE tokens directly on our Marketplace. Simply connect to our website, click on your profile, and you will find the 'Staking' section.
This page will display all your crafted items in-game, current APY, staking start and final date, and of course accumulated rewards.
Important note:
The 18% Annual Percentage Yield (APY) is valid until March 31, 2024, and may change in the future.
Each item shows how much $ALICE is used as collateral, giving you a clear view of your assets. We're committed to keeping things open and transparent for you.
To start staking, simply click on the 'Stake' button, and the collateral amount will be added to the 'Total Staked'. Once the staking start date arrives, you will begin receiving rewards. After this date, the staked amount will be locked until the staking final date.
How to claim rewards?
You can easily check how much unclaimed $ALICE is in your wallet and instantly claim them whenever you want. Additionally, you can also check details regarding your recently claimed rewards.
How to claim back the collateral?
Not staked items can be destroyed at any time, while staked items can only be destroyed during the crafting time period (the time when the Alpha Season is active).
To destroy the item, go to the Marketplace Staking page → Choose the item you wish to destroy → Click on 'More Action' → Follow the instructions. Once destroyed, collateral $ALICE will be returned to your in-game wallet balance on the Alpha Access page, where you can decide how to use it next: to craft another item or to withdraw it to your wallet.
FAQ
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