As some of you may have already heard, KlayDino is a member of My Fat Babiz(MFB onwards) ECO system. 🦖 And we would like to briefly introduce the mining system of KlayDino NFT to you all so your Dinos can work for you 🐤
Just to give you a heads up, our MFB ecosystem is a team of Klaytn-powered 5 NFT projects — KlayDino, MyFatBabiz, KlayForest, KlayRecordOn, and last but not least CuteCatClub.
You can find the links below for details of each project 🦖
Please kindly note that though the staking system is already developed and running smoothly, to avoid any unexpected errors, MFB teams are still chipping away at it so there can be a few changes during the process😊
So, here we go!
What you are seeing below is the user interface where you can stake your KlayDino and other MFB Ecosystem NFTs. We call this — MFB Ecosystem staking UI. This allows you to stake, swap and other utilities such as governance (TBA) and you can see all of the projects within the MFB Ecosystem, of course, KlayDino is one of them 🦖
There are many advantages when you stake your NFTs but before we go deep into that, let me tell you how it works first.
First, when you stake your KlayDino and other MFB Ecosystem NFTs, POO 💩 Tokens will be mined for the first month. You will be able to convert (process will be announced so stay tuned!) these POO 💩 tokens into GPOO tokens for a linear transformation based on the sophisticatedly-developed tokenomics of MFB team. Also please note that staking / unstaking will require GPOO tokens, which is one of the intended methods to implement a DeFi system. This will positively contribute to the sustainable development of the MFB Ecosystem. 🦖
On top of that, to manage the supply of POO tokens, there will be lock-up periods. During this lock-up period, POO tokens will be converted on a pro-rata basis. Therefore, the conversion rate of POO tokens into GPOO tokens will be depending on the period which will be also announced more in detail (will be updated as soon!)
Lastly, after the first month, your staked NFTs will be able to mine GPOO tokens directly. TADA!🎉
Step by step guide
- Go to MFB website (https://www.myfatbabiz.world/swap) and buy GPOO for how many NFTs you would like to stake. It costs 8 GPOO to stake 1 NFT and the price of GPOO can be checked here (https://dexata.kr/?tokenA=0x569f7a27bd82ac6b7027572ba4a416b492323194&tokenB=)
- Then go to staking website and proceed staking :) (https://www.myfatbabiz.world/staking)
- All done! Let your Dinos work for you while you are having a cup of tea.. 🍵🦖