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Position Exchange is building a new NFT Protocol and introducing Crypto NFTs as a new feature. Users can cast NFTs with unique characteristics and different rarities (by depositing POSI tokens) then stake it in the NFT Pools to generate rewards. Issue, trade NFTs and participate in auctions!
In a regular staking pool, users deposit tokens into a contract and are rewarded with the same or different token in the form of rewards.
An NFT staking pool is different and is a bit similar to the Farming Pools because as a user, you:
- 1.Deposit POSI tokens into a contract.
- 2.Get rewarded with NFT cards with different rarities and characteristics (The better your NFT is, the higher your mining power will be)
- 3.Stake the NFT cards in the NFT Pool.
- 4.Earn POSI.
- NFT casting is a random process. Users will be rewarded with different cards depending on their luck!
- NFTs can be decomposed back to POSI but will have a decomposition time. This means the tokens will be locked for a certain time in the NFT cards. The decomposition time is also chosen randomly and is set between (25 - 45days).
- NFT Cards can be traded in the NFT marketplace in our platform.
The NFT staking pools are available in the pool section in our platform.
Users can cast NFTs with any amount of POSI. To guarantee fairness, NFT cards casting will be a random process and will not be related to the amount of POSI used.
Here is an overview of the NFTs users can get:
There are 6 grades with different Productivity and Mining Efficiency: Farmer, Janitor, Accountant, Engineer, Pilot, Boss.
Productivity: Mining productivity Par Value: The amount of tokens used to cast NFT. Power: The value of the mining power, calculated by the following formula: (Power = POSI Par Value * Mining Efficiency) Decomposition: NFTs can be decomposed back into POSI tokens after a certain period of time (25 - 45 days).
The higher the level of the NFT card, the more advantages you will be able to receive.
Our NFT cards will not be purely cosmetic but will also have several use-cases on the platform itself!
The NFTs themselves will be publicly tradable, so you will be able to buy/sell them on our marketplace without any limitations with a plan to include them in other projects' marketplaces as well!
The staking of NFTs will be very profitable to users as the APR will be remarkably high. It is also a great tool to stabilize the price of POSI as the NFTs have a decomposition period.
Position Exchange NFT feature is still reserving a lot of surprises for the community!
A full guide on how to use NFTs and NFT Pool will be released shortly on our Docs Section. Stay Tuned!