Earn Rewards with Pirate Nation's New $PIRATE Staking

ChainPlay

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3 months ago

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Pirate Nation has launched $PIRATE staking. This new feature allows community members to earn Proof of Play Points by staking their tokens. What's cool is you can spend these staked tokens on Gems with a 10% discount. More discounts are planned for the future.

Benefits of Staking $PIRATE Tokens

Staking $PIRATE tokens comes with a reward called Proof of Play Points. Proof of Play is the company behind the play-to-earn game that uses these tokens. They are building their own on-chain infrastructure and ecosystem. These points are designed to reward early supporters of the Apex blockchain that powers their game. While it’s not clear what specific rewards these points will bring, they might be converted into a new token for the Apex blockchain.

If you stake your tokens early, you get a bigger Points multiplier. There’s even a 50% bonus for those who claim and stake their tokens in one transaction. If you also stake Founder’s Pirates, you’ll earn even more Points daily.

You can spend staked tokens without unstaking them. This process is done in a single transaction, so you can easily buy things like Gems without losing your Points multiplier. Right now, there’s a 10% discount on Gems for spending staked tokens. More discounts are expected in the future, with limited edition items being hinted at.

Unstaking and Its Effects

You can unstake your tokens anytime, but doing so will remove your staking multiplier. The multiplier will reset based on the amount of tokens you have staked. If you unstake a Founder’s Pirate, you’ll lose all the Points the NFT has collected.

Besides staking, the $PIRATE token has several uses in the play-to-earn game. You can use it for crafting, asset customization, exclusive guild utilities, and buying Gems. Players earn $PIRATE by competing on leaderboards, participating in special game events, achieving unique in-game accomplishments, and completing seasonal quests.

Gems can only be bought with the $PIRATE token. With Gems, you can buy resources, energy, and the Battle or VIP Pass. Gems also have more uses, making them a valuable asset for players.

Final Thoughts

In summary, the launch of $PIRATE staking offers several benefits to Pirate Nation players. From earning Proof of Play Points to spending staked tokens on discounted Gems, there are plenty of reasons to start staking. With more rewards and discounts on the horizon, staking $PIRATE tokens could be a smart move for players.