As the list of projects being added to the R-Planet staking system grew ever longer, it became obvious that we had to create a better and more standardized system. Since every project has different numbers of assets with various rarities and burn mechanisms, there needed to be a system which could assign a value in Aether for each collection’s assets, as a whole, could draw from. Some of those projects are producing new NFTs at an overwhelming pace, which puts pressure on the R-Planet technical resources, as well as imbalances in the amount of Aether being drawn. As a result, we have been working on transforming into an entirely new pool-based type of NFT-staking system. This new system will totally revolutionize how Aether is distributed in a fair and transparent way, and evolve into a system by which the community can have a say, via voting with governance tokems, in which new projects will be granted a staking pool.
Until now, every project had its own mining rates for each separate NFT card depending on its rarity. Those mining rates were permanent and could only be changed manually by our engineers, which caused a lot of headaches and unnecessary extra work for our already busy dev team.
From now on each project listed within the R-Planet staking system will have its own mining pool, with a set amount of Aether designated to it every hour. The aggregate mining power is the main characteristic for each pool. The reward will be transferred to the pool, and then distributed between its participants in accordance with their share in the aggregate amount of the staked resources (with taking into account the rarity of each staked card).
As a result of the new system the mining rates of any specific NFT won’t be a fixed rate anymore. It will fluctuate depending on the total amount of all the staked NFTs: the more NFTs that are staked, the less reward the owner will get for each point of mining power he has staked. NFTs with higher rarity will get a proportionally bigger part in the reward compared with NFTs with lower rarity. For each pool, those rates will be individual in order to keep the correlation the same way it was before the changes.
For example:
One user stakes 10 “Common” NFTs, which give him 10 shares of the pool;
The other one has staks 1 “mythic” NFT which also gives him 10 shares of the pool.
Then both of them, the 1st and the 2nd user, will have 10 shares of the pool each, which means that they can count on an equal part in the reward.
🤔Let’s count the profit for those users, if the general reward for the pool is 300 000 aether/hour.
🟪 if the total amount of mining power of all the NFT’s staked in the pool is 300 shares.
300 000 Aether/hour : 300 shares * 10 shares = 10 000 Aether/hour
Then each of those users will get 10 000 Aether/hour.
OR:
🟪 if the total amount of mining power of all the NFT’s staked in the pools is 60 000 shares.
300 000 Aether/hour : 60 000 shares *10 shares = 50 Aether/hour
Then each of those users will get 50 Aether/hour.
In the beginning, the initial mining power for each pool will be assigned by the team. Later those decisions will be the responsibility of the R-Planet community.
Maintenance will begin on R-Planet platform starting 📆 May 20at 12pm UTC and will continue for a few hours.
Please be patient while we make these system upgrades. Thanks
🐷 As promised, the Mining rates of all R-Planet NFT’s will not be affected by the new pool staking system. Of course, because of the nature of R-Planet NFTs and their specific mining rates per asset, there will be no changes to staking values of R-Planet rigs, elements, materials, and other native NFTs of the R-Planet.
