After rebranding and going multi-chain, Polychain Monsters released a unique collect-to-earn approach to NFT Staking. This feature is a product of almost 1.5 months of development and two beta versions. With this, the NFT Game aims to drive utility to the entire Polychain Monsters ecosystem.
Introducing the Innovation: Collector Staking 1.0
Basically, Collector Staking 1.0 will allow players to stake their collection and harvest rewards in the form of $PMON tokens. The amount of the NFT stake rewards will depend on the Collector Score. This is calculated based on the completion of Collector challenges. Thus, the more challenges that a player completes, the better the score will be.
Since the rewards are anchored on Collector Score, the game is introducing two types of challenges. First are ‘Collector Challenges’ which rewards collecting as many Polymon with rare attributes. Then, “Full Set Challenges’ which requires players to collect all Polymon with specific traits of a set.
Collector Challenges: Rarity Score vs. Special Edition Challenge
Under the Collector Challenges, there are two sub-challenges: Rarity Score Challenge and Special Edition Challenge.
Within the Rarity Score Challenge, the game rewards players for every non-special-edition Polymon they own. So the system calculates the number of points earned based on the rarity of each single Polymon’s attributes. Some examples are color, horn and glitter. The bottom line is, the rarer the attributes the higher the scores will be. Understandably, the project rewards the earliest collectors; all first-edition Polymon will receive a 20% point boost.
As for the second Collector Challenge, the special edition challenge will reward holders of special-edition Polymon. For example, if an NFT holder has Bitcoin Unidragon, their rarity score will get an additional point boost.
Now that we’ve talked about the differences let’s cover similarities. The system calculated points for each Polymon in the Rarity and Special Edition Challenge based on the rarity of the Polymon at birth. So altering a Polymon in the future will not affect existing Polymons.
Full Set Challenges
As the name implies, players need to collect all Polymon of a specific set. For example, the Horns Challenges will require players to collect all 11 horns of a specific Polymon type. Meanwhile, the Rainbow Challenges require players to collect all 6 colors of a specific Polymon type.
The project gamified this part by allowing players to boost their Collector Score by collecting complete sets. So collecting both horn and color rarities will boost the score. The amount of boost is calculated by averaging together the rarities of all respective attributes. So, if players are lucky enough to possess Polymon with rare horns, colors, or glitter, they will receive a boost to make their completed set more valuable.
How does Polychain Monsters’ Staking Rewards Affect Player Experience?
Now that the rules are clear, let’s talk about player experience.
Since many community members have multiple wallets holding their NFTs, the project created a Collector Account. This is a multi-chain entity capable of connecting to all wallets and using it for a public Collector Leaderboard. As a result, the player will have a single score and can harvest rewards on multiple networks. However, players need to harvest their Polychain Collector Staking rewards for each chain separately.
As a cross-chain project, Polychain Monsters is currently available on Ethereum and Binance Smart Chain, with Polygon and Elrond following soon. Therefore, the Collector Staking rewards are drawn from a cross-chain staking pool, integrating all current and upcoming chains. Hence, both the Collector Score and Staking Rewards reflect a player’s cross-chain collection.
Every Wednesday, the system will automatically update the Collector Score and Reward. So the weekly reward will be based on a player’s share in the staking pool. The system will then add the weekly rewards to the existing rewards.
The first reward update will happen on August 25. After half a year, the rewards collected 6 months prior to that week will expire. So mark your calendar and make sure you harvest on time.