Cardano NFT maker, NMKR, will be adding a new staking utility to its $NMKR token today.
The new utility will require $NMKR stakers to lock up their tokens for a total of 6, 9, or 12 months. A 6 month lock will provide a 5% APY, a 9 month a 7% APY, and a 12 month lock a generous 10% APY.
The NMKR Seaplane NFTs will also play a role, as they will boost the new $NMKR staking utility by an additional 1% for bronze medal NFTs, 2% for silver, and 3% for gold. This will raise the total available return up to a maximum of 13% APY with a gold medal Seaplane NFT and a 12 month lock. At this point, it does not appear that Seaplanes are stackable for this particular utility, as the app allows you to choose only one NFT to apply to the transaction.
It appears that NMKR will be using a new company called Genius Yield as custodian of the staked tokens during the lock period.
It will be interesting to see how NMKR’s competitor, JPG.STORE, responds, as they are apparently launching a Cardano token of their own this month. It will be known as $JPG.
More to come as this story unfolds …
Sources
NMKR: Website
Genius Yield: Website
JPG.STORE: Website