How NFT Staking works

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Introduction

So, you’re interested in staking ONT? Well, good for you! Staking lets us take part in the proof-of-stake process — and it also helps with governance decisions on Ontology. However, before we get into how the staking process works, let’s first understand what it is.

There are three types of NFTs: Staking, Curating and Proof Of Stake.

There are three types of NFTs: Staking, Curating and Proof Of Stake.

Staking is the most common type of NFT because it’s the easiest to understand.

Let’s start with a quick rundown of what each one means:

Staking: The owner stakes their NFT in order to gain a share of all tokens that are staked as part of this auction. The more popular an item is on OpenSea (meaning there are more people bidding on it), the higher its value will be when you sell or buy it through our marketplace! You don’t have to worry about anything besides choosing your favorite games!

The amount of tokens you own influences the amount of your stake in each NFT.

The amount of tokens you own influences the amount of your stake in each NFT. The more tokens you have, the more stake you have (and therefore the more power over that particular NFT). If a NFT has 100,000 stakes and you own 1% of all tokens, then your stake is 1% of 100,000 — or 10,000 (and vice versa).

If you want to earn even more money from staking your favorite NFTs, it’s best for everyone if you’re able to participate in staking pools where a bunch of people combine their resources so they can earn even more rewards together.

When you stake, you are staking the amount of tokens that you have as stakes as well as any additional tokens you may have purchased with your staked funds.

When you stake, you are staking the amount of tokens that you have as stakes as well as any additional tokens you may have purchased with your staked funds. Airdrops and other events can quickly change this balance and will impact how much staking power you have.

When a token is airdropped to your account, it will show up immediately in your wallet. The amount of tokens sent to each user is proportional to their total amount of ETH vested in an address at the time of the snapshot (NFTs held by these addresses also contribute to this). If an event occurred where all NFTs were transferred into one address and then withdrawn from another address before being transferred back again, the system would see only one transaction: two transfers in one direction followed by one transfer back again – no net addition nor loss due to transfers between accounts.

If a curator is given permission, he or she will be able to spend a certain amount of tokens from their curator wallet. This can only happen if the curator has the number of curators votes required to vote on a certain NFT. If a curator does not have enough total votes to vote on a certain NFT, then he or she can only spend from his or her own curator wallet.

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If two curators choose to stake (and trade) the same number of tokens, then the staked tokens in the NFT will split equally between them and both will be credited with a new number of tokens proportional to their total staked balances.

Staking is a way of participating in the proof-of-stake process as well as helping with governance decisions on Ontology. A user can stake their tokens to receive more ONT from the network. Specifically, when the threshold for staking is reached, an individual is rewarded with 1 ONT per 100 staked (and not just 100) tokens.

If two curators choose to stake (and trade) the same number of tokens, then the staked tokens in the NFT will split equally between them and both will be credited with a new number of tokens proportional to their total staked balances.

Staking means that we are taking part in the proof-of-stake process as well as helping with governance decisions on Ontology.

Staking means that we are taking part in the proof-of-stake process as well as helping with governance decisions on Ontology. As an example, if you have 100 ONT tokens, then when you stake, the number of your stakes will increase by 100 because it is a part of your overall holdings. In other words, when you stake 1 million ONT tokens, this means that your stake is 1 million. However if you own 1 million and 10% of them are staked at any given time, then the amount staked would be 10%, which would mean that only 100 thousand tokens are being used for consensus purposes rather than 1000k (100%).

Staking lets us receive more ONTs

Staking helps us to receive more ONT tokens in the form of airdrops and rewards. We get these benefits because we hold our ONT on an Ontology MainNet wallet (this means we have our private keys), and not on an exchange where they are stored by the exchange itself.

Additionally, staking gives us voting rights over: new NFTs, changes to the Ontology blockchain itself, and changes for governance of the Ontology blockchain.

Conclusion

So, to recap: NFTs are a type of digital asset that can be traded on the blockchain. We can use staking to earn more tokens while helping to secure the network.

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