STAKING

SkateX is being designed with longevity in mind, providing players with enjoyment, utility and replayability for years. While building this long-term community, we’re excited to unveil staking and start rewarding our SkateX players who continue to support our vision for building a thriving SkateX metaverse!

What is staking?

Stake by securely holding your SkateX NFTs over time to unlock utility and earn exclusive rewards. You can only stake within staking pools linked from skatex.io/staking. SkateX is launching staking with limited time events with NFT multipliers and bonuses. Each event will have unique rules and benefits, but every staked NFT is guaranteed to reward GRIND Tokens. GRIND unlocks the ultimate SkateX utilities including NFT mints and exciting functionality to be announced in upcoming updates!

What is a staking pool?

A staking pool is a limited time opportunity where SkateX NFTs that meet specific eligibility requirements can be staked to produce GRIND and potentially reward rare mystery drops. Pool requirements change over time and could include factors such as board collection, type, rarity, or other to be determined attributes.

What do you earn by staking?

There are two reward types: GRIND Tokens and Mystery Drops.
GRIND Tokens (GRND) GRIND Tokens are an SPL token with both in-game and on-chain utility. GRIND is accrued by staking and holding SkateX NFTs. GRIND Tokens are earned for every NFT you stake, regardless of their style, type or rarity. GRIND is the primary SkateX in-game and utility token for exclusive mints among other upcoming utilities that empower the community with access to own digital assets and create high engagement in the SkateX metaverse.
Staking Event Mystery Airdrops Staking reward pools rotate and change on a regular basis to give different SkateX players a variety of opportunities to earn rewards. Certain pools will have Mystery Drop airdrop rewards. As an example: A pool could require staking multiple NFTs from one or multiple Collections to be eligible for mystery box drops.
If a pool has a mystery airdrop bonus and you meet the staking requirements, you may earn mystery airdrops rewards which include:
  • GRIND Tokens for NFT mints, in-game and off-chain utility
  • Exclusive drops containing rare and redeemable NFT collections
  • Skatelist spots for future SkateX and SkateX partner whitelist mints
  • Exclusive SkateX NFT Skateboard(s)

How long do you need to stake?

You can stake as many SkateX items for as long as you like. The more you stake and the longer you stake, the more GRIND you earn. Eligibility requirements for reward pools must be met before you can unlock those airdrops. Rewards types and quantities vary and will change with new events but GRIND can be claimed any time after staking.

Can you unstake?

Yes. You can unstake any/all of your NFTs at any time, however, unstaked items no longer earn GRIND and unstaking could impact your eligibility to earn mystery drops.

Can you still use your board in SkateX while it is staked?

Yes! Staked boards can still be ridden and displayed in the SkateX game. Staked NFTs are locked but will still appear in your Solana wallet.

How do you stake?

Staking is easy! Each staking event pool can be found at skatex.io/staking. SkateX currently uses the Cardinal Protocol for hosting secure staking pools, so the URLs will start with a stake.cardinal.so/. NOTE: Staking must be performed on a desktop browser only. Mobile will not work. Please allow the Cardinal system a few seconds to populate the UI after loads and transactions. If something looks incorrect after waiting, refresh and make sure you stay in the browser window and your wallet is connected.
  1. 1.
    Click on your desired staking pool at Skatex.io/staking. You will be re-directed to our SkateX pool on the Cardinal.so service website.
  2. 2.
    Connect your Solana wallet containing your SkateX NFTs.
  3. 3.
    Once your wallet is connected, your eligible NFTS will appear under “Select Your Tokens”
  4. 4.
    To stake, select your NFTs on the left panel and click the "Stake Tokens" button below. Alternatively, you can click the three dot sub-menu on a specific NFT and click "Select" (if staking multiple NFTs) or "Stake" to stake the NFT immediately. NOTE: There is a small transaction fee paid in SOL, please ensure you have an available balance in your Solana wallet to cover this.
  5. 5.
    Staked NFTs will appear in the “View Staked Tokens” field on the right.