Staking
Staking and Partner Staking
Last updated
Staking and Partner Staking
Last updated
Our non-custodial staking system is a first of its kind on Cardano and is modeled after Cardano's ADA staking protocol. Rather than requiring users to give up their NFTs in order to receive rewards, our staking system works simply by checking to see if the user is holding the NFT in their wallet. Users maintain control of their NFTs at all times. Not only is this the best experience for holders, but it's also safer from a legal point of view.
Staking rewards are earned every epoch, users do not receive our $DERP utility token, instead, their account earns XP which can be converted to $DERP using the $DERP Exchange.
We've partnered with 15+ other NFT projects to allow NFTs from their collections to earn staking rewards from within our ecosystem.
Derp Birds: +10 Partner NFT slots
Preds: +8 adds Partner NFTs slots
Derpling: +4 Partner NFTs slots
Derp Ape: +4 Partner NFTs slots
In order to earn rewards for partner NFTs, holders must have a Derp Bird( or ) staked to their account. Derp Birds are what unlock partner staking. Furthermore, the number of partner NFTs that can be staked depends upon how many Derp NFTs the holder has. Each additional Derp NFT unlocks additional partner NFT staking slots.
