🥩Medallion Based Staking
Guide on how to use Shaga Medallions.
Last updated
Shaga: Shared Gaming Network
Guide on how to use Shaga Medallions.
Last updated
Medallions are unique digital assets (represented as NFTs) that allow you to participate in our network's revenue sharing model. By staking medallions, you can earn rewards based on the performance of specific geographic areas within our network.
To get started, you'll need to mint medallions:
Use our network's native tokens to mint medallions.
The cost of minting increases with each medallion created (this is called a bonding curve). Our linear bonding curve would be: P = 0.0008 * n
Medallions are NFTs, meaning each one is unique and can be traded if desired.
After minting, you'll select a location to stake your medallion:
Our network is divided into predefined geographic areas.
These could be cities, regions, or hexagonal grids on a map.
Each area has its own potential for generating revenue.
Once you've chosen a location:
Stake your medallion to that area through our staking interface.
This action is recorded on the blockchain.
Your medallion is now linked to that specific area.
As the network generates revenue in your staked area:
You'll receive a share of that revenue.
Your rewards are proportional to:
The number of medallions you have staked in the area.
How long you've had your medallions staked there.
While medallions can be unstaked at any time, there are important factors that may influence your staking strategy:
Time-weighted rewards: As mentioned, rewards are proportional to how long you've had your medallions staked in an area. This creates an incentive to maintain your stake for longer periods to maximize rewards.
Minting costs: Remember that the cost of minting new medallions increases with each one created (due to the bonding curve). This may create an indirect incentive to hold onto your existing medallions rather than frequently unstaking and re-minting.
You have flexibility in managing your medallions:
Unstake at any time if you wish.
Re-stake in the same area or move to a different one.
Strategic stakers may move their medallions to potentially more profitable areas.
Market-Driven Resource Allocation: Your staking choices help direct network resources to where they're most needed or valuable.
Rewards Without Geolocation: Earn based on area performance without needing to track specific device locations.
Flexibility: Adjust your strategy over time as network dynamics change.
Participation in Network Growth: Your staking directly contributes to and benefits from the network's expansion and success.
Ready to start staking? Here's how:
Acquire our network's native tokens through supported exchanges.
Connect your wallet to our staking platform.
Mint your first medallion.
Choose an area and stake your medallion.
Start earning rewards as your staked area generates revenue!
Remember, like all investment activities, medallion staking carries risks. Always do your own research and consider your risk tolerance before participating.
If you have any questions about medallion staking, please check our FAQ section or reach out to our community support channels. Happy staking!
