Land Staking
Last updated
Last updated
Holding even just one strategically-located land plot will provide abundant in-game rewards that can be converted and capitalized on. Another rewarding aspect of holding land is land staking. Land staking involves a player locking up MAGICK in land plots they own within the game, after which they receive staking rewards.
To take advantage of land staking rewards, a player will need to own at least one land plot and stake MAGICK in their land to begin receiving rewards. Land can be leveled up to Level 7 to unlock the maximum staking rewards.
Having MAGICK will be necessary for land staking. To get from level 3 to level 4, for example, it could cost you 610 MAGICK in the seed planting fee. After a 21 day cool-down period, you will have to soft-lock 610 MAGICK you will be staking and pay the corresponding fee into your plot (upgrading cost) to be eligible to receive your allotment of the monthly reward pool. The amount of MAGICK needed increases as you level-up your land to increasingly-higher levels. Any MAGICK you stake can be removed at any given time, while the fees spent will be burned. Prior to upgrading land to a new level and staking MAGICK, a seed must be planted.
The land staking rewards you will receive will depend on a few factors:
The level of your land plot
The number of other land plots participating in land staking
The level of all other land plots participating in land staking
Below are details for the land staking program, based off of a Fibonacci sequence progression regarding costs and staking amounts.
Once a player upgrades their land to Level 7, they can stake as much MAGICK as they want, as long as it is a minimum of the defined amount of MAGICK, which currently is 2584 MAGICK in the example below.
NOTE: The above-mentioned values are subject to change by the time the Land Staking program is live.
Note: Planting Cost is akin to an entry fee. Staking Amount is the threshold for how much MAGICK needs to be staked to reach or stay within a level. Players can stake any amount in between and still stay within a level. For example, if you level-up your land to Level 1, you can stake between 144 and 232 MAGICK. If you want to stake more, you need to level-up your land to Level 2. If you unstake MAGICK and your total MAGICK staked falls below 144, you drop out of that level until you restake.
There are three things that need to occur prior to land staking being activated.
Plant a Seed
To produce abundant land staking rewards, you must first plant a seed. This is only done once per level and is a fee paid, represented by a seed, that is needed to activate a land plot as one that can receive staking rewards. If a player decides to sell a land plot after planting a seed, the new buyer of the land plot will not need to pay the MAGICK fee prior to activating staking rewards.
The distribution of the MAGICK Seed Planting Fee is as follows:
50% — Community Rewards Pool
30% — Cosmic Universe
20% — MAGICK Bank
Gain XP
Another necessary step for land staking is to gain the necessary amount of XP. There are numerous ways to gain XP, with most of them focused on the main Quest of harvesting resources, gathering items, building structures, and participating in sidequests. New exciting and entertaining methods of gaining XP will be added as time goes on. The amounts of XP needed to gain by a player while they are participating in the Land Staking program is TBD.
Wait
The final step is to wait 21 days. Once this waiting period is over, your land will successfully be activated and begin earning staking rewards. At that point, MAGICK must be staked on a player’s land plot.
While MAGICK is locked up, at a particular level land was upgraded to, it will continue to earn staking rewards commensurate with that level. However, if MAGICK becomes removed at any point, staking rewards will drop. The original level can be recaptured whenever a player re-stakes MAGICK and pays a fee again.
To illustrate this, here is an example:
If your player has leveled-up to Level 5, and has 987 MAGICK staked on their land plot, and then removed 100 MAGICK, there will be a total of 887 MAGICK still staked and a player will see their land level drop down to Level 4 because the amount staked has fallen below Level 5's threshold. A MAGICK staking fee would have to be paid again, along with 100 MAGICK needing to be re-staked, in order to return to Level 5.
MAGICK can be unstaked whenever a player decides to and will be returned to them.
The staking rewards received will be proportional to how much MAGICK a player stakes in relation to other players, as well as what their land level is at.
Note: Once land is leveled-up, it will retain its level when sold on the marketplace. As long as you keep your MAGICK locked up in your land, you will retain the level of your land. You can unstake and remove your MAGICK at any time. However, if you remove MAGICK then your land level will drop, resulting in earning less in staking rewards. To return land to the level it was, simply re-stake your MAGICK and pay the upgrade fee again.
Pay the seed planting cost, once per level.
Stake your MAGICK.
Wait 21 days before being able to upgrade land to a higher level, at which point you must pay the upgrading cost.
NOTE: Earnings from land staking will be proportional to the amount of spending/contribution of each player relative to all other players based on the total amount of MAGICK rewards in the Rewards Pool.
NOTE: The MAGICK Planting Cost, MAGICK Upgrading Cost, and Staking Amount will initially be updated on a weekly basis to ensure stable game economics.
The Cosmic Universe Rewards Pool will contain a TBD amount of the total MAGICK that will ever exist. The Rewards Pools will continually replenish to ensure there are enough rewards for years to come thanks to additional MAGICK entering it due to the following:
Marketplace Fees
Seed Planting Fees
Direct Asset Sales
