NFT Staking

Stone Temple Binance has support for staking of ERC-721 (NFT) tokens. We will be able to add pools for NFT series and give each series a multiplier.

We have developed a separate chef file called NFTchef.sol that contains a new slate of functionality related to NFT staking. We can charge a specified BNB deposit fee for each NFT series, and that BNB deposit fee is distributed according to the normal deposit fee split of 75% to STB dividend pool stakers and 25% to our PLUSH AMM support mechanism.

The staking fee for NFTs will be a flat fee for each series denominated in BNB.

We believe that NFT staking will provide a major source of added value, as most NFTs are currently not staked. In addition, we believe that what we are doing (making NFTs stakeable in standard pools) is in accordance with how most NFTs are valued: as a collectible with intrinsic value. We believe that this new type of NFT staking technology, while aligning with users' standard expectations of pools, will also derive a categorically new source of value for NFT holders. This can also synergize with our plan to issue self-minted NFTs.

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