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TOTHEMOON to distribute Resource Deed NFTs after 30 days of staking Resource Tokens – NEO News Today

TOTHEMOON Resource Token holders can begin staking tokens and earning Resource Deed NFTs around Oct. 1. Resource Deed NFTs will allow users to randomly mint Resource NFTs, and will be distributed to users that stake tokens for at least 30 consecutive days. In the coming weeks, TTM will announce a concrete date for the launch of Resource Token staking.
Within the TOTHEMOON metaverse, Resource Tokens are required for building Moon Infrastructure and will also be associated with specific Resource NFTs for additional benefits. Five types of NEP-17 resource tokens and their associated Resource NFTs can boost staking rewards and decrease the staking requirements for building corresponding Moon Infrastructure. In the image below, the token symbols in the top row are resource tokens (from left to right: TGAS, WATT, LITH, HIST, and MAG), and the associated Resource NFT symbols are listed under each.
Source: TOTHEMOON
The table below outlines the total supply and benefits each Resource NFT offers:
At the time of press, the only way to accumulate Resource Tokens is through the TTM Battle Arenas, where Fused Cryptonaut NFTs can participate in player-versus-player competitions.
To earn a Resource Deed NFT, users must stake a certain amount of Resource Tokens, placing them into a tier for a minimum of 30 days. The more MAG, HIST, LITH, WATT, and TGAS the user stakes, the higher the tier.
Higher tiers reward stakers with Resource Deed NFTs with higher “Mint Chance” attributes, which offer a higher chance of redeeming a Resource Deed NFT for a Resource NFT. Staking requirements can be found below:
The 30-day countdown begins once the appropriate amount of Resource Tokens has been staked into the Staking Tier Pool. Resource Tokens can be removed from Staking Tier Pools at any point, but any time accrued toward a Resource Deed NFT will be erased.
Once a Resource Deed NFT is minted, it can be traded or sold on the official TTM Marketplace or on GhostMarket. Resource NFT minting is scheduled to begin in late Q4 2022.
The full announcement can be found at the link below:
https://tothemoonuniverse.medium.com/introducing-resource-token-staking-for-resource-deed-nfts-72ea559282e4
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Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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An Open Source activist, who pursues his passion for tech blogging. In early years of his life, he worked as market analyst for a number of companies. Martin has been writing reviews and articles for a local magazine for last five years.