I wanted to take the time to write an article about how the staking games will work with our token and platform, and thus how users and artists will be able to earn rewards.
The first thing to note is none of these figures are set in stone as ultimately the plan is to transition OpeNFT to a DAO like structure where holders of the ONFT token can submit proposals for adjusting these reward structures.
User Rewards: (65%)
The primary way of earning ONFT is through engaging with our platform. There are 2 ways non-artists can engage:
- ) Vote on the daily competition. This is how we determine what to display on our front page / explore page.
2.) Stake on artists. You can stake additional ONFT you have on artists of your choice. This helps their rankings, the earlier you support an artist the more you’re rewarded.
Artist Rewards:(35%)
To incentivize artists to join the platform and link their stores, we have given them a steep 35% of the overall reward even though its quite unlikely they will make up 35% of the user base.
This fits with our theme from the beginning which is a platform built for artists by artists.
Artist rewards will be determined either with a rolling window metric or a bonding curve, which ever is harder to game and results in more payments to smaller artists instead of a select few receiving the lion share.
Look forward to seeing the art community here earning rewards together by promoting each others work. Exciting times!
