Our long-awaited NFT Staking platform is finally here! It not only allows our in-house CRXILLION NFTs to be staked in an innovative yield generation model, but it is also open to third-party projects wishing to plug their collections into the Hub.
By staking your NFTs in a pool, you gain access to rewards, bringing DeFi mechanics to the NFT space. You can stake as many NFTs of the same collection as you like, and the more NFTs you stake, the larger your rewards share will be.
Just like our Liquidity Mining program, the CRX Metaverse Hub pools are live for 28 days. Each round, projects "refill" their pools, and NFT holders can move their stake to the next round to continue enjoying yield generation from their art investment.
This gives NFT collectors more options to achieve profit from their investments; however, you should be aware that an NFT that has been staked at the Hub cannot be listed at secondary marketplaces like Agora or Ebisu's Bay at the same time.
There are no locking periods for NFT Staking, so you are free to stake/unstake your NFTs at any time you like.
Each transaction at the Hub incurs a 1 $CRO processing fee. These fees are collected by the protocol to execute $CRX Buybacks, benefiting the whole CRODEX ecosystem. CRXILLION Transactions are exempt from this fee.