The Proof of Punks: Using BlockNG to stake LAW Punk NFTs
I covered BlockNG and LAW punks in one of the SmartBCH Spotlights articles and things changed soon after my article. Proof of Punk was added on BlockNG and NFT holders could stake their assets to earn $LAW.
Staking LawPunk NFTs was not the only option to earn $LAW, as BEAM has EDENS ZERO live. The Edens Zero staking pool allows users to earn LAW risk free, with high APR single asset staking. I didn't had much BCH to start with, and the amount of low was also low. I earned 0.26 LAW in 10 days, not enough to even bother keeping checking for updates.
I minted my two LAWPunks NFTs when only one third was covered in the minting process, paying 0.02 Bitcoin Cash. I didn't knew how much I will regret minting only 2 NFTs, specially when the price went quickly 10x.
They sold out and the floor price for common human NFTs went to 0.11 BCH, 10 times more then the minting price. Only 649 owners for 10,000 NFTS, which makes me think that some aped into the project with lesser research (or no research at all).
When Proof of Punk was integrated, was time to see how much the NFTs will learn. Each NFT had mining power, used as hashrate to earn LAW. I staked my 3 punks in the first day of PoK and the results are above expectations.
My Hash Rate was 31.079, earning a share of the 1.731 LAW minted for each new block. Back in the days, this mining rate was creating nearly 10 LAW per day.
It got even better, as I borrowed two more punks to make a full team. The hash rate grew to 50 but I noticed I was earning less than the first week. What happened?
I found an answer to my question after clicking on the staking dashboard. The hash rate grew to 50.00 but the block reward went done to 1.1 LAW per block, considerably lower than the 1.75 from few days ago.
I always said that we must also be supporters for the projects we are investors. This mentality was the reason I chose to stake $PRE on Presearch, making most of the Punk NFTs related searches directed to BlockNG. See below the results after 2 days of staking keywords! An in-depth article about BlockNG is available on Pox - SmartBCH Spotlights : BlockNG & LAW Punks
The SmartBCH Spotlights series:
- Cash Cats ($CATS) - the first meme token on SmartBCH with 1,000,000,000 total token supply
- BCHPad - a decentralized IDO protocol built on the SmartBCH chain, creating a simplified method to invest in new SEP20 tokens
- AxieBCH - Gaming Guild - a simple business model and a provision for players to create a play2earn source of income.
- BlockNG & LAW Punks - the platform powered by the $LAW token, which can be used to buy LAW Punks NFTs.
- CheckBook - the system that evolves the airdrops, as the tokens are sent through cheques and must be accepted.
- Konra Token - a token with unique tokenomics and a project that will become a multi token ecosystem.
- Tango Swap - The first SmartBCH DEX with publicly known developers.
- GAME - The the universal gas token for the AxieBCH gaming guild that grows in the holder's wallet
- Narath - The reward token meant to serve as an incentive of the holders that use Konra on SmartBCH
Residual Income:
Torum essence - Be part of the future!
DeFi bounty at ++CakeDeFi++ with $30 DFI for new users
The fountains: PipeFlare ZCash, GlobalHive ZCash & Get.ZEN
