F1® Delta Time — All About Staking

The Staking Pool

At A Glance: Payout Formula

Full Staking Term Payout Schedule

Earning Projections

  • Rarity Tier: There are five tiers of NFT rarity in F1® Delta Time, with the rarity relating to the potential stats of the NFT as well as the scarcity of the NFT. The scarcest rarity with the highest potential statline is the Apex tier, followed by Legendary, Epic, Rare and Common tiers.
  • Population: This refers to the number of car NFTs currently in circulation. It should be noted that there are unopened F1® Delta Time 2019 crates being held by users. When opened, these crates will add to the car population (every crate has a chance to contain a car) and will therefore affect the potential earn per-car if they are staked. This will not affect the total size of the Staking Pool.
  • Weight: This determines the potential earnings of a car NFT as other cars are staked during the same Staking Term. Each car NFT has a Weight that it carries, with each rarity of car having the same Weight (e.g. all Epic cars have the same Weight). Weight can be looked at like a rank, where a higher Weight is guaranteed to earn more than a lower Weight. The Weight also allows the earnings of REVV per-car to be dynamic for when new cars are staked or un-staked. It ensures that the NFTs retain a relative earning based on their rarity, regardless of the number of NFTs staked. Weight is derived from the scarcity of an NFT, as well as factoring in current market valuation.
  • Minimum REVV Earn Per-Car: The minimum potential earn presents a scenario in which all available NFTs are staked for the entire duration of the Staking Term (4 weeks in this case). If your car is staked for the full 4 weeks of this Term, you will receive at least this amount of REVV.

Staking Design and Terminology

  • Earnings: NFTs will earn an amount of REVV for each day that they are staked. Although earned, this REVV isn’t immediately available to be claimed and it is not sent automatically to the owner’s wallet. The owner must wait for the current Claim Interval (explained below) to be completed before they can claim any REVV earned.
  • Cycle: a cycle is equivalent to a standard 24-hour day. The cycle refers to the frequency at which the total Staking Weight will be adjusted. Each cycle, the current staked NFTs are reviewed, and the potential earnings are adjusted. The Weight doesn’t change during the cycle, it only changes upon the start of the next cycle.
  • Claim Interval: the amount of time a user has to wait until they can claim the most recently earned REVV. For the current Staking Term, the Claim Interval is 3 cycles (meaning 3 days). So every 3 days in the Staking Term, users who have staked NFTs will be able to claim the REVV they have earned.
  • Claim: REVV that has been earned during a Claim Interval is not automatically sent to the wallet of the user. The user needs to claim the REVV they have earned. REVV can be claimed at the end of every Claim Interval. REVV that is earned during a Claim Interval cannot be claimed while that Interval is still in progress, it can only be claimed once the Interval is complete. A user doesn’t need to claim the REVV every Interval, because any unclaimed REVV will remain waiting for users to claim it at their convenience.
  • Staking: When staking an NFT, its Weight is counted toward the owner’s total stake from the day it is staked. When un-staking an NFT, its weight no longer counts to the owner’s total stake from the day of the un-staking.
  • Lock-Up: When staking and un-staking NFTs, there are NFT lock-ups: first, a staked NFT cannot be un-staked within the same day that it was staked and the following day; second, an NFT that has been un-staked cannot be re-staked within the same day. These rules ensure that users cannot un-stake and re-stake on the same day to receive a full day of earnings.
  • Staking Transactions: the staking contract runs on mainnet Ethereum, and to stake a car NFT the owner will be required to send the NFT to the staking contract. Un-staking and claiming REVV will also require a user transaction. Be advised that transactions on Ethereum require payment of Gas fees.

Staking Smart Contract

What’s Next

Any questions, give us a shout!

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