The moment we have all been waiting for.. the much anticipated Vulcan Forged Land Staking Program has been launched. VulcanVerse landowners will be able to stake $PYR tokens in their land plots to receive $PYR directly from the 10 million $PYR reward pool. This article will describe all the essential features you should know about the staking program.
VulcanVerse Land Plots
VulcanVerse is an island consisting of 9918 land plots across four quarters, each owned by players. These players can build their virtual metaverse world using the development tools provided, while leveling up. Each level upgrade will grant you more building methods and landscaping tools. Also, different types of materials can be found throughout the whole world while you spend your time engaging in Vulcanite battles and questing. Even valuable NFTs can be found while playing!
This is a glimpse of how this looks at level 1 out of 7 levels, as this game is LIVE and played by a huge player base already.
Users build everything. Land, terraforming the ground both up and down, trees, watercourses, statues, buildings. Everything.
When you have access to land in VulcanVerse, the possibilities are endless.
Land Staking Program
A land plot represents a unique NFT with land coordinates. When you own this NFT, you own a small part of VulcanVerse digital real estate. You can rent out this plot if you want and earn some $PYR, but you can also use this unique plot as a staking vehicle. The staking pool contains 10 million $PYR and will be paid to land staking participants in four years. The reward method is linear. The pool pays out 10 million $PYR in 1460 payment terms. (roughly 1460 days) The land level determines the rewards for the user. If you want to optimize the rewards, it is essential to upgrade the land level as fast as possible.
Upgrading the land level can be done by staking $PYR inside the land. This can be done on My Forge, the name for your Vulcan Forged account dashboard. Some requirements apply before you can start staking your $PYR tokens, though. As we are a gaming platform, some gamified aspects are involved.
How To Upgrade A Land Plot?
A land plot can be upgraded up to level 7. A default land plot is level 1, and no $PYR can be staked on this particular plot. To start staking $PYR and start earning rewards, the plot needs to be at least level 2. To reach plot level 2, your avatar level (your account level) needs to be level 2 first. You need 10,000 experience points (XP) to upgrade your avatar level to level 2. The required XP can be earned playing games throughout the Vulcan Forged ecosystem.
As soon as you reach the required 10,000 XP, you can upgrade your plot(s) by sowing the plot. The sowing process will take 20 days. There is a fee involved for sowing your plot, please check the above visual called ‘Sowing and staking details’.
Sowing a land plot to level 2 needs 50 $PYR. This is a one-time fee and will permanently upgrade the sowing level for this plot. When the sowing process has finished your plot is ready for $PYR to be staked inside the plot. This can all be managed on My Forge, as stated earlier. Upgrading your land plot to level 2 requires 50 $PYR and 50 $LAVA. The 50 $LAVA is a fee, while the 50 $PYR is locked only and can be withdrawn any time you want (note- you cannot withdraw when your plot is listed on the Cedalion marketplace, or has active Cedalions working on the plot). The upgrade is instant.
1: If you are staking multiple plots. Wait for the plot to be fully finished before staking the next one.
2: You cannot withdraw PYR from plots listed or live on the cedalion program. (as it would downgrade your land level)
3: LAVA will be returned to users once an hour. Please wait and check this before submitting a support ticket
4: If you previously staked 100 LAVA inside the plot. You will receive back 50 LAVA. (due to the 50 LAVA fee)
5: If you previously did not stake 100 LAVA, you have to pay the normal 50 LAVA fee.
6: If you see the ‘in progress’ button don’t stake a new plot.
7: Plots at land level 2 and 50 PYR staked should show “maximum reached”
The reward pool is filled up with 10 million $PYR at the time of writing. This is roughly 6900 daily $PYR distributed between all eligible land plots. We are using a ‘share-based system’ for the rewards. Land plots with 50 $PYR staked represent 50 shares, while land plots staked with, for example, 350 $PYR represents 350 shares. The payout will be determined using (6900 $PYR / total shares eligible) * your shares. You probably noticed the amount of $PYR you will receive would depend on the amount of land plot participating. Fewer plots = more rewards!
Maintaining Your Staking Rewards.
As this is a gamified ecosystem, we only reward active players. You need to earn experience points (XP) to receive your daily rewards. The amount of XP required depends on the number of plots owned.
XP needs to be earned per day, per plot owned, to make plots ‘fertile’ for staking.
The minimum XP you need is 101 XP, while the maximum is 200 XP for unlimited plots. The 200 XP cap will rise over time and Vulcan reserves the right to make changes to amend the formula to ensure ecosystem stability.
Important: XP earned by Cedalions is also used towards the required amount needed to make plots fertile.
The God Effect
In VulcanVerse, gods are important. Gods will buff your plots and will increase the staking rewards. Gods can be upgraded (TBA) to increase the bonus even more.
10 of the 11 Olympian gods and 11 of the 12 Titan gods allow between 10% and 70% extra staking reward for whichever plot of land god is linked to. The bonus depends on your god’s level, from baby to full-blown god level.
The leaders of the Olympian and Titan gods, Zeus and Cronus, will boost three land plots simultaneously. They can also be upgraded and will eventually be able to increase your staking rewards by 70% using the three highest level plots you own at that particular moment.
Read more about the gods and how to obtain them here.
Participate In Staking?
Do you want to participate in this land staking program? It’s not hard at all. Go to the Vulcan marketplace and select the VV land filter on the left-hand side. It will list all available land plots for sale. You can start playing VulcanVerse and collect XP as soon as you own the plot. When you have reached 10,000 XP, you can upgrade the plot to level 2 and start staking!
You can find out more about land staking here.