OhDae_Sue retweetet
A HUGE update to @Memeland @stakeland + WIN 69,000 $meme from your loyal MVPs!
NFT Staking Utility
Today, Memeland NFTs all gain a huge boost in Stakeland. Each NFT has "nMeme" associated with it, the value of which matches the original $meme they had locked on them. You can see the amounts in attached images.
This nMeme earns steaks at the rate of 1 per week per nMeme, the same as having $meme staked.
The nMeme is all "locked" if you don't have any $meme staked, and it unlocks at a 1:1 ratio with your staked memecoin - so if you have a Captainz NFT and 100k meme staked, 100k of your nMeme will earn you steaks. You can stake more meme to unlock more nMeme from it.
This means arbitrage between NFTs and $meme is negated in terms of Stakeland use cases, and arguably the NFTs are more important than just stacking $meme since they actually earn you more than 2x the Steak - lets see how..
Pure Memecoin
In this scenario, lets say you held 500,000 $meme, and had 2.3eth to spend (current Captainz price). You choose to buy $meme. You get ~550,000 $meme and stake it. You earn 1,050,000 steak a week forever. Not too shabby, but not optimal!
Memecoin with NFTs
Similarly, you have 500,000 $meme and 2.3eth. You opt to buy a Captainz NFT. The NFT has 690,000 "nMeme", of which 500,000 gets unlocked to match your $meme. You begin earning 1,000,000 steak a week. Oh no, thats less!! HOWEVER your NFT will be unlocking its $meme daily at a rate of 1371 per day. For gas and simplicity sake you Claim+Stake that weekly at 9,600 per week. Since you have 190,000 more locked nMeme available, this unlocks equally and you earn 19,200 more Steak each week. After 2.5 weeks you will be earning more Steak per week than with memecoin alone and made the same investment, and it would continue increase weekly until you hit 1,190,000 steak a week (max nMeme + $meme) - 16% more Steak.
$meme may be more liquid, but with the arbitrage being negated, 16% more stakeland rewards feels worth it (in this scenario, it varies depending on your NFTs, and Super/Full Crews get even more nMeme available)
So, if you are here for longer than a few weeks, and you want to be winning larger shares of Stakelands upcoming drops, and potentially benefit from other NFT tracked/gated Stakeland drops which could potentially happen now, you want to be aiming to roughly balance your Memecoin and NFT holdings.
69,000 $meme to giveaway!
MVPs have pooled meme and nfts in to a shared wallet over the years, and occasionally we give some away. This week, 69,000 will go to a lucky winner who...
- Follows @web3bdez and @_lileddie_eth
- Likes + Retweets this post
- Comment on this post
Winner will be Selected on 12th August.
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