HiFi Staking and Earning
The skies are looking glorious today in the HiFiverse and we are happy you are here to enjoy them with us. We wanted to give you all a heads up that as we move to a new phase on our platform we will be making some small changes to the existing systems. These changes are for the health of the platform and for the long-term health of your HiFi bags.
The main change will be with the APR on the $HiFi single staking. The next phase of the HiFi platform utilizes a much more sustainable model, so you can continue to rake in those juicy gaming rewards, without losing value from inflation.
So lets take a look at the changes you can expect.
Offering all investors a 51% APR was a welcome present while we were maturing the product, and a way for everyone to get rewarded for being early believers in the project. With that being, said a fixed APR of 51% inflates the currency at an unsustainable rate. For you this means that the earned $HIFI would be worth less in the end, and neither you nor we want that scenario. We recently moved to a pool structure which is a method that allows us to more acutely control the rate of inflation. Now your bags are full lowering APR means that there will be less inflation and therefore all future $HiFi is slightly harder to acquire, thus increasing it’s value.
As we have announced, a new way of staking and earning will be launched really soon. In short, you will be able to level up any Into The HiFiVerse NFT (and unlock more scholar slots) by staking $HIFI against it. The exact system will be explained later but the results are easy to understand: You stake $HIFI, you level up an NFT and it’s value grows greatly.
This opens up 2 new options for users within our ecosystem :
- Become a Guild: You can stake the $HiFi against one of our ‘Into-the-
HiFiverse’ NFTs to level it up. You can then use this NFT to create a guild. Each additional level you’ve earned will allow for more scholars that can be assigned to the NFT. We’ll then help you recruit scholars and you’ll increase your daily $HiFi earning potential.
- Provide Leveled NFTs to Potential Guilds: You can stake the $HiFi against one of our ‘Into-the-HiFiverse’ NFTs to level it up. Instead of then using the NFT yourself, you can then sell a pre-leveled NFT on one of our currently listed marketplaces.
With the upcoming release you’ll be able to view all the NFTs on our platform and compare levels.
Guild/scholar earning: As shortly explained above, the most important earning systems at HiFi will be gaming (missions and competitions) and
guilds/scholars. More details will be revealed later in a separate article!
Merits: With our new earnings model, we’ve moved to a pool structure,
this comes with increased earnings for everyone, in a sustainable way.
However, with increased earnings for gaming (which is the design of the platform) we need to reduce the earnings from other areas. Primarily we are a play and earn platform, so our focus will always be on allowing people to earn and increase their earnings potential by gaming, or employing other gamers to play (scholars) within our ecosystem. So when you look at it this way, there is only good news. We are watching out for you, the gamer and the metaverse master.
Below are the dates and the APR you can expect through staking:
- March 23rd : 41% APR
- March 30th: 31% APR
- April 6th: 25% APR
Finally, the release of NFT staking will be somewhere around the final
APR decrease 😉. Those of you who own a nice bag of $HIFI and
don’t own an NFT yet can keep an eye on this date.
As always, happy gaming from fellow gamers like you.