Liquid XDC NFTs Staking System

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Liquid XDC NFTs Staking System

In this system, the NFT functions as a vault. Users can stake within the NFT, with the rewards being credited to the NFT. Rewards can be withdrawn from the NFT, and the staked amount can also be retrieved from the NFT. We can say that this is a tokenized masternode.

Through this system, we manage to provide significant benefits to XDC holders interested in staking on nodes while eliminating entry barriers:

  • Masternode KYC
  • 10M XDC tokens
  • Hosting Expenses

Different types of NFTs:

1) Premium NFTs:

We call Premium NFTs the current XDC Staking NFTs.
These NFTs also allow users to stake within the NFT and receive rewards from the blockchain nodes that the user is employing. Moreover, these NFTs provide additional rewards from the Prime Numbers Labs protocols, such as Prime Finance. Premium NFTs fetch higher rewards compared to Vault NFTs.

How to buy them:

How they are made:

Staking mechanics (To be updated after the proposal):

Staking payout formula(To be updated after the proposal):

2) XDC Vaults NFTs:

Free minting NFTs!

These NFTs empower users to stake within the NFT and garner rewards from the blockchain nodes that the user is utilizing.

Vaults Mechanisms work with a $10 activation fee paid in PRNT.

There is no minimum staking amount to receive rewards.

We will put in staking.primenumbers.xyz an update where you can mint these XDC Vaults.

3) XDC Masternode NFTs:

You have 10,000,000 XDC or a working Stand-By Masternode.

If you want to host a masternode, you must do KYC, pay a hosting fee, and, most importantly, your 10M XDC is locked.
With this NFT, we solve the problem of having this 10M XDC locked.

You mint an XDC Vault NFT for free, stake 10,000,000 XDC inside the NFT, and click Create XDC Masternode!
Now you have an NFT with a minimum value of 10,000,000 XDC that you can sell without destroying the Masternode!

XDC Stand-By Masternodes pays 8% APY, and we will pay you 7.75% APY.
We use the 0.25% to pay the hosting fees!

We are going to do these NFTs in two phases:

1- The NFT is tradeable; you can sell it on the market.

2- Prime Finance is coming to the mainnet. You can put your XDC Masternode NFT in Prime Finance and mint 10,000,000 pstXDC (prime-staked XDC). The value of 1 pstXDC is always 1 XDC. Now you can use your 10,000,000 pstXDC for adding liquidity, trading, DEFI platforms…
If you want to get back your XDC Masternode NFT, just put back the 10,000,000 pstXDC to Prime Finance!

How can I get back my XDC?
It’s really simple: click the Request Withdraw XDC button, resign your node, and withdraw your XDC from the NFT in 32 days!

Welcome to the REAL Liquid Staking NFTs!

XDC Masternode NFTs will be released at the same time as XDC Vaults.

What is new?

Now, all the NFTs will receive masternode rewards.

withdrawXDC function now has a modification: 32 days lock
How can I withdraw my XDC from my NFT?
Now, this feature has a 32-day lock. However, you can withdraw early, paying a penalization:
3.125% fee per day.
You click Request withdrawXDC, then wait for 32 days until withdrawXDC is available.
If you need to withdraw early (paying a fee), you can use InstantWithdrawXDC.

Why this lock? We call it the Anti-Rewards Snipers system. These people stake the day before the staking payout and then remove the stake to earn the rewards and damage the rewards of the true holders.

Days until the withdrawal Penalization
32 100
31 96.875
30 93.75
29 90.625
28 87.5
27 84.375
26 81.25
25 78.125
24 75
23 71.875
22 68.75
21 65.625
20 62.5
19 59.375
18 56.25
17 53.125
16 50
15 46.875
14 43.75
13 40.625
12 37.5
11 34.375
10 31.25
9 28.125
8 25
7 21.875
6 18.75
5 15.625
4 12.5
3 9.375
2 6.25
1 3.125
0 0

Lock NFT function:
This function will stay in this new version. Why?
Long-term holders (users using the Lock NFT function, which locks the XDC Balance inside the NFT for one year) must be rewarded with better rewards.

Summary:

We have Premium Locked NFTs, Premium Unlocked NFTs, XDC Vaults Locked, XDC Vaults Unlocked, and XDC Masternode NFTs.
The difference between them is the different rewards and the locked times.

Rewards:

1- Premium Locked & Unlocked NFTs:

Fixed Rewards

In the first two years, 30% of the minting funds will be rewarded to the XDC Staking NFTs.

Variable Rewards - Prime Finance

XDC NFTs will receive 10% of Prime Finance profits.

To be eligible for these rewards, you need to lock your NFT on Prime Finance for a period of time.

XDC Masternodes Rewards

When your NFT reaches the MAX LIMIT (100,000 $XDC staked inside the NFT), you can lock this NFT to get an additional X% APY.

The lock period will be one year. The reward will be paid monthly to the NFT.

The rewards 1 and 2 uses this formula: XDC NFT Staking Reward System | Prime Numbers Labs

The rewards 3 uses a different formula: Boosts Formula (Check the following tables)
Boost applied to the Premium Locked NFTs: 1.2x
Boost applied to the Premium UnLocked NFTs: 1.0x

2- XDC Vaults Locked & Unlocked NFTs:

XDC Masternodes Rewards

When your NFT reaches the MAX LIMIT (100,000 $XDC staked inside the NFT), you can lock this NFT to get an additional X% APY.

The lock period will be one year. The reward will be paid monthly to the NFT.

The rewards use a Boosts Formula (Check the following tables)
Boost applied to the XDC Vaults Locked NFTs: 1.05x
Boost applied to the XDC Vaults UnLocked NFTs: 0.75x

Note to understand the tables: We will always have +10,000,000 XDC in the staking contract to hold a massive withdrawal event. So if we have 100,000,000 XDC, 90,000,000 XDC will be in Masternodes, and 10,000,000 XDC will be in the staking contract.

Reward example APYs:

Example Type of XDC NFT min APY% max APY% Boost X True Value Max Rewards Min Rewards
10,000,000 Premium Locked NFT 4.62% 6.75% 1.2 12000000 675000 461538
10,000,000 Premium Unlocked NFT 3.85% 5.63% 1 10000000 562500 384615
10,000,000 XDC Vault Locked 4.04% 5.91% 1.05 10500000 590625 403846
10,000,000 XDC Vault Unlocked 2.88% 4.22% 0.75 7500000 421875 288462
40000000 2250000 1500000

In the table above, we can check the APYs of 2 or 3 working masternodes. 2 Masternodes means <40,000,000 XDC Staked
3 Masternodes >=40,000,000 XDC staked.
We can observe that when the number of Masternodes is low, there is a considerable difference between min APY and max APY. Let’s check one more example:

Example Type of XDC NFT min APY% max APY% Boost X True Value Max Rewards Min Rewards
30,000,000 Premium Locked NFT 7.50% 8.25% 1.2 36000000 2475000 2250000
30,000,000 Premium Unlocked NFT 6.25% 6.88% 1 30000000 2062500 1875000
30,000,000 XDC Vault Locked 6.56% 7.22% 1.05 31500000 2165625 1968750
30,000,000 XDC Vault Unlocked 4.69% 5.16% 0.75 22500000 1546875 1406250
120000000 8250000 7500000

In the table above, we can check the APYs of 10 or 11 working masternodes. 10 Masternodes means <120,000,000 XDC Staked
11 Masternodes >=120,000,000 XDC staked.
The Premium Locked NFTs are already paying more than a Stand-By Masternode!
The difference between min APY and max APY gets closer.
As many users are staking, the difference between APYs will get closer and closer.

3- XDC Masternodes NFTs:

XDC Stand-By Masternodes pays 8% APY, and we will pay you 7.75% APY.
We use the 0.25% to pay the hosting fees!

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I find it easy to understand. This is indeed revolutionary for xdc stakers

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Thank you for the feedback!

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Superb Amigo!! Revolutionary indeed and much more options than initially anticipated even! Fantastico

So to summarize and clarify a few points for myself and perhaps others.

Current status quo as per the Masternode rewards

  • XDC Staking NFTs. Need to have 100K XDC staked and the NFT needs to be locked to participate in a node and earn 7% APY (at this time). There are currently 2 nodes fully operational and 242 NFTs Staked. This means 42 do NOT (yet) earn rewards at this time.

Question: In the new staking system, will there still be a ‘waiting’ period for those 42, that they will all be dependant on other people (in this case 58) to stake before they can reap rewards? Or will you build like a XDC POOL (read Staking Contract) so there will ALWAYS be node participation for everyone staking?

New status quo as per the MN Rewards;

  • Premium NFTs. These are the exact XDC Staking NFTs, just rebranded, but will have 2 options. Locked vs Unlocked. Liquid and illiquid so to speak.

  • Question on Premium NFT: The SAME rules apply still? Meaning; 100K XDC needs staked before MN Rewards can be earned (whether locked or unlocked)?

  • XDC Vaults. Those are the ‘Free to mint’ NFTs (against a 10$ in PRNT activation fee). These have NO minimum amount requirement, meaning it can be 1000 XDC, 10,000 XDC, 50K XDC whatever.

  • Question on XDC Vaults; In the example someone stakes 10K XDC, do they then earn (say in the 10,000,000 example = max 5.91% LOCKED) 591 XDC APY?

  • XDC MN NFTs, essentially are ‘Whale NFTs’ for blokes with 10M XDC that want to ‘run a MN’ without actually having to run it themselves and they outsource it to you; PrimeNumbers to set it up, host it, and run it (maintenance etc.)?

  • Now as per What’s New; The WithdrawXDC Function and the Penalty. Does this apply to both LOCKED and UNLOCKED NFTs or only to UNLOCKED NFTs (yet with a 32 day ‘cool off period’), or EVEN for ‘LOCKED NFTs’ who could technically STILL withdraw, only against a Penalty (for early) or no penalty when they can wait 32 days. Or LOCKED is ALWAYS LOCKED for 1 year.

REWARDS:

  • Premium LOCKED and UNLOCKED NFTs. Q: To clarify, there will not be a ‘new’ UNLOCKED collection, correct? It’s just the difference between a Premium NFT (current XDCStakingNFT) to be LOCKED, or it be UNLOCKED?
  • As per the ‘Boost’. Let’s use for example; Premium NFT - Locked = 1.2x Boost in the 10M XDC example/ Max APY: 6.75%. Is the Boost already applied to get to 6.75% or will the 6.75% be boosted by 1.2x on top?
  • In the the table, where we can check the APYs of 10 or 11 working masternodes, that’s just a ‘figure of speech example’ right? It all depends on ‘demand’ aka ‘amount of stakers’, or will you just run max. amount of nodes PrimeNumbers financially can, and who wants to participate CAN to share rewards with, and if not, PrimeNumbers can earn a little more ‘on the side’?:wink:

Again, very well put together and I hope my lengthy analogy is appreciating rather than Annoying. I think bottomline, some clarification could help for some, especially regarding if everyone in the new system will ALWAYS earn these rewards or if we’re still dependant on ‘overall demand’. This refers to the initial question; for Premium LOCKEDNFTs if there are 242 locked NFTs, yet only 200 currently earn MN rewards (because 20M XDC is (needed and) used to run them, 42 do not, will that still happen in the new system?

Gracias Jefe!

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The work you guys have put into this innovative staking system is nothing short of immense. After the 2nd read it’s making more sense to me.
Thank you all at PrimeNumbers Labs for these great opportunities.

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Thanks Boris, these questions and your write up are very helpful :+1:

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Amazing to see the staking system evolve like this. Im going to read through it thoroughly ( and probably more then once lol ).

Amazing work PrimeNumbers team. :muscle:

I also want to give a special shout out to @Boris for helping me from the start, from giving initial information about the project to minting the NFT’s and everything that came after. :kissing_heart:

Cant wait to see everything in full operation.

Lets go!

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Thank you for the fantastic feedback. I’m going to copy and answer your questions:

Question: In the new staking system, will there still be a ‘waiting’ period for those 42, that they will all be dependant on other people (in this case 58) to stake before they can reap rewards? Or will you build like a XDC POOL (read Staking Contract) so there will ALWAYS be node participation for everyone staking?

There will not be a waiting period; every NFT will get masternode rewards.
Please check the tables to see how the APYs are going to work.

Question on Premium NFT: The SAME rules apply still? Meaning; 100K XDC needs staked before MN Rewards can be earned (whether locked or unlocked)?

No, you always get MN rewards, but you have a different boost applied to the APY

Question on XDC Vaults; In the example someone stakes 10K XDC, do they then earn (say in the 10,000,000 example = max 5.91% LOCKED) 591 XDC APY?
Yes, in this example 10k xdc gets you 591 XDC

XDC MN NFTs, essentially are ‘Whale NFTs’ for blokes with 10M XDC that want to ‘run a MN’ without actually having to run it themselves and they outsource it to you; PrimeNumbers to set it up, host it, and run it (maintenance etc.)?

Yes.

Now as per What’s New; The WithdrawXDC Function and the Penalty. Does this apply to both LOCKED and UNLOCKED NFTs or only to UNLOCKED NFTs (yet with a 32 day ‘cool off period’), or EVEN for ‘LOCKED NFTs’ who could technically STILL withdraw, only against a Penalty (for early) or no penalty when they can wait 32 days. Or LOCKED is ALWAYS LOCKED for 1 year.

To both! Locked NFTs will be 1 year and then when they want to withdrawXDC, they need to wait 32d after request Request withdrawXDC.

Premium LOCKED and UNLOCKED NFTs. Q: To clarify, there will not be a ‘new’ UNLOCKED collection, correct? It’s just the difference between a Premium NFT (current XDCStakingNFT) to be LOCKED, or it be UNLOCKED?

Exactly. No new collection.

As per the ‘Boost’. Let’s use for example; Premium NFT - Locked = 1.2x Boost in the 10M XDC example/ Max APY: 6.75%. Is the Boost already applied to get to 6.75% or will the 6.75% be boosted by 1.2x on top?

It’s already applied.

In the the table, where we can check the APYs of 10 or 11 working masternodes, that’s just a ‘figure of speech example’ right? It all depends on ‘demand’ aka ‘amount of stakers’, or will you just run max. amount of nodes PrimeNumbers financially can, and who wants to participate CAN to share rewards with, and if not, PrimeNumbers can earn a little more ‘on the side’?:wink:

Just examples, If we get 100 Nodes, we will do 100 nodes…

Again, very well put together and I hope my lengthy analogy is appreciating rather than Annoying. I think bottomline, some clarification could help for some, especially regarding if everyone in the new system will ALWAYS earn these rewards or if we’re still dependant on ‘overall demand’. This refers to the initial question; for Premium LOCKEDNFTs if there are 242 locked NFTs, yet only 200 currently earn MN rewards (because 20M XDC is (needed and) used to run them, 42 do not, will that still happen in the new system?

Everyone will get Masternode Rewards with different APYs

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Gracias for the answers amigo! All good! Glad everyone will be earning MN rewards regardless of the total amount of NFTs locked/unlocked😘.

One thing I forgot to write to verify. I suppose the ‘surplus function’ will remain as it is for the ‘Premium’ Locked NFT, right? It only applies as long as the 100K remain locked, but rewards as surplus can be withdrawn anytime?

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Shall we therefore have an option to pay for NFTS on primeport with pstXDC on the get go?

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Oh yeah amigo one more question, with regards to the node APYs and between LOCKED and UNLOCKED NFTs.

Regardless what the ‘Max APY’ will be, I was wondering about the following, scenarios. * Variables serve as Examples:

Scenario A. UNLOCKED NFT stakes 100K against an APY of 7%. Because it’s unlocked the APY just goes against the value of the staked amount in the NFT, right? So 7% of 100K is 7,000 XDC p/a as reward in this case. This is 583 XDC per month, to be rewarded into the NFT. But because unlocked NFTs have different APYs based on the different values staked (just like with the free VaultNFTs even 10K XDC can be staked to earn), does that also mean that as the rewards gradually increase per month, the rewards also gradually increase per month?

Meaning: Day 1: 100K staked. End of Month 1: value in NFT equals 100,583. In the second month is the 7% calculated over 100,583 (and so forth per month) or still over 100K?

Scenario B: an UNLOCKED NFT, that staked 100K too on Day 1, but locks it and receiving a higher APY with the 1.2x boost. Let’s just keep it simple and use the same 7% APY for easy calculation-comparison purposes. I suppose because 100K is locked the APY remains to be calculated over 100K, just like the current locked XDCStakingNFTs are rewarded. Correct?

Then the wondering: IF (and only IF) Scenario A turns out to be true (the rewards gradually increase per month for UNLOCKED NFTs), and if this does not apply for LOCKED NFTs in Scenario B, wouldn’t this represent an inequality between the two versions of is this also offset by the 1.2x booster?

Just putting my brain out there once again. Others might ponder also.

:kissing_heart:

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So with a Premium Staked XDC NFT will i be able to liquid stake with my 100 000 xdc, withdraw 100 000 pstXDC and stake that in another Premium XDC NFT?

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Only if there is sufficient XDC in the pstXDC/XDC pair.

Probably no one will use XDC to mint pstXDC.

You need XDC to stake inside an NFT.

You can easy think about it :slight_smile:

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-While I Can Understand the Need for an Anti-Sniping Policy I Don’t Like the Idea of a 32 Day Cooling Period or Penalty.
-I’d Rather See A Policy of Snapshots.
-example: Each Week at Random the Level of Unlocked XDC NFT is Recorded … On the 1st the Average of Those Snapshots Determines the Level Applied for Monthly Rewards.
-I May Want to Pull From Unlocked NFT to Acquire a Good Deal on PrimePort. … Looking Forward to Seeing it All Come Together Though;

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We will think about your message. Thank you.

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If I Minted 10_Mil pstXDC … Where do the Masternode Rewards Go ? Why Would Anyone Swap Their XDC for pstXDC ? There Has to be a Benefit to Holding pstXDC vs XDC.