COLLECTOR STAKING // A NOTE ABOUT CLAIMING REWARDS. - Collector Staking rewards are paid out weekly.

20 Jul 2022, 08:19

COLLECTOR STAKING // A NOTE ABOUT CLAIMING REWARDS — TL;DR - Collector Staking rewards are paid out weekly - Reward amount is based on the point size of your staked collection - Claiming rewards cost gas fees - You´ve got 365 days to claim your rewards, no need to claim weekly - Unclaimed rewards from August 25th, 2021 will return to the rewards pool on August 24th, 2022 -- It’s wonderful to see how involved many of our new (and old) members are when it comes to interacting with the Polychain Monsters dApp and their Collector staking mechanism. We’re glad you’re enjoying our unique functionality to stake and earn on your NFT collection - something we were one of the first to implement in the space believe it or not! That being said, we’d like to take a moment to give you a little background information on how claiming your staking rewards works. The Basics of Collector Staking 🪙 1️⃣ Collector Staking rewards are generated procedurally over time and paid out weekly. The reward amount is based on the point size of your staked collection as a fraction of the total points of everyone’s staked collection. 2️⃣ There is a one year period from receiving a reward that you are able to claim your full earnings. If rewards don’t get claimed within 365 days, they go back into the rewards pool. 3️⃣ Each time your claim your rewards, you are paying a little bit of gas in order to transact on the blockchain. 4️⃣ Therefore, the ideal time to claim Collector Staking rewards is slightly more frequently than zero times per year, but less frequently than each and every week. Note: The first time rewards might return to the rewards pool is August 24th, 2022. If you began staking at the inception and have never claimed, please do so before this date. With that out of the way, keep on grabbing up those monsters, climbing the leaderboards, and enjoy earning passive income with Polychain Monsters!