Kryptomon — Staking your $KMON
Hello trainers, welcome back to the wonderful world of Kryptomon. For those who tuned into our last Founders Talk session on Discord, you’ll know that our devs have been hard at work getting everything ready for the much anticipated $KMON staking feature. (No really, our devs can’t remember the last time they’ve taken a weekend off!)
Staking will begin on the 10th of September 2021, and this article will dive into everything you need to know about our newest feature. Before we hop into all the staking details though, for those of you who haven’t already joined us on Discord and Telegram, you might have missed out on these little gems.
Remember that these are drafts that we’re working on with Room8 Studios, so they’re still subject to change. However, it’s important to recognize that what Room8 Studios have achieved a mere 2 and a half weeks in is nothing short of astounding and we’ll continue to share updates of our progress on our social media channels. So if you haven’t already, make sure to come join us on Telegram, Twitter and Discord!
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The Eight Week Egg Lottery Campaign
To be more precise, on the 10th of September 2021 we’ll be launching the first of eight, 1 week long egg lotteries where trainers stand to win Kryptomon eggs!
Every week, a number of Kryptomon eggs will be up for grabs and we can confirm that there is a small chance you could even be the lucky winner of a Gen 0 egg! There are only 2 Gen 0 eggs up for grabs in the entire campaign and no one, not even the Kryptomon team can guarantee when or if they’ll be won.
To participate in the lottery, trainers will be required to stake their $KMON on the Kryptomon website in order to earn lottery tickets that can then be used in the lottery. There is no minimum amount required to participate so trainers could potentially just stake just one $KMON, earn and bet one ticket and still walk away a winner! 🎉
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Our Rationale for the Egg Lotteries
Most staking pools out there today reward participants with the project’s native token. Stake CAKE for CAKE for example is a pool that works very well for PancakeSwap, but is that really what Kryptomon needs right now? 👀
At present we’re still a little way away from trainers being able to use your $KMON in game, which means creating a stake $KMON for $KMON pool would just result in trainers being able to grow their bag of $KMON in preparation for the game launch with no immediate benefit. Another possible scenario is that the growing amount of $KMON in circulation would just lead to stronger sell pressure, which we’re sure is not something any of our trainers would like to see.
The question was therefore: What can we offer with the new staking feature that would benefit both the game and our trainers the most?
After the success of our previous egg lottery campaign, we realized that we had severely underestimated how fast the Kryptomon community is growing and just how strong the demand is for eggs. There are currently approximately 6,000 Kryptomon eggs being traded and held amongst 33,000 odd trainers (if Discord is to be any guide).
While we do realize the importance of keeping supply scarce enough to ensure our eggs have value, as a blockchain game, it’s also important that we have enough players. What we don’t want to see happening is all 27,000 trainers (33,000–6000) without an egg losing interest and leaving the Kryptomon family due to the cost associated with getting your first Kryptomon.
It is for this reason that we’ve decided to create a staking feature that will allow lucky trainers to win the chance to become a Kryptomon trainer every week for 8 weeks. We believe we’ve found an ideal balance between keeping trainers engaged and also leaving plenty of demand for eggs when breeding is released.
Where are these eggs coming from?
As with the previous egg lottery, all eggs that will be used as prizes for this lottery come from the original 10,000 batch of airdropped eggs that went unclaimed and the 40,000 egg sale batch that weren’t purchased. The total supply of eggs has not changed, and we are once again simply redistributing them back to more deserving members of the community. 😉
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Egg Lotteries… With A Twist
With all of that said, we’ve also included a few little twists in the lottery to make things more interesting, strategic and just a little bit more fun. Here are a couple of things you’ll want to consider when playing the lottery:
Staking Gives You Lottery Tickets
Staking $KMON rewards participants with tickets. The more $KMON you stake, the more tickets you earn. Each ticket is one entry into the current week’s lottery so by the simple law of probability, the more tickets you have in the current week’s lottery the higher your chances of actually winning an egg.
“But what about whales? They’ll just stake 500,000 $KMON and almost guarantee themselves a win!”, I hear you thinking to yourself. Well, you’re not wrong, but! We’ve put in place several safeguards to make sure everyone isn’t priced out by large $KMON whales.
Trainers Decide the Number of Eggs Up for Grabs
The Kryptomon team have, after much discussion, agreed upon a “budget” of eggs that will go into the lotteries, which includes the 2 Gen 0 eggs that were mentioned above. This doesn’t mean however, that all eggs will be won!
Trainers will decide how many eggs are up for grabs in the lottery each week by staking $KMON. At the end of every week, the code will determine the number of unique players who’ve bet tickets in that week’s lottery and only 10% will win. That means if there are 200 players in Week 1, there will only be 20 eggs released from the budget, one for each winner!
Let’s assume that the budget is 1000 eggs (we’re intentionally not releasing the actual number of eggs in our budget). This means that it’s very possible we get to the end of Week 8, and not all 1000 eggs in the budget have been won simply because there weren’t enough players. Alternatively, its also very possible that the lottery is wildly popular and we run out of eggs by Week 5! 🙀 If that’s the case, the egg lottery campaign ends immediately.
Tickets Can Be Used… or Saved
To add a little more strategy into the lottery, tickets that you get from staking your $KMON aren’t locked to a lottery in a particular week. That means you can start staking your $KMON from week 1, save up all your tickets and choose not participate in any lotteries for 4 weeks but spend all your tickets in the Week 5 lottery!
This allows smaller trainers to have a much higher chance of winning an egg… if they pick the right week to participate. 😉 It’ll be up to the trainers to do their research, be active on Discord and Telegram etc to figure out what the overall sentiment is.
It’s important to note however, that tickets are burnt once used regardless of whether you win or lose!
Winners Win Only Once
To prevent a large whale from just staking 500,000 $KMON, betting all the tickets and winning every egg every week, we’ve implemented a rule that every unique wallet address can only win once per lottery. So the whale could theoretically “almost” guarantee himself a win by betting 500,000 tickets every single week, but he’d only receive one egg.
The code will then choose the remaining winners from other wallet addresses while the whale’s 499,999 remaining tickets are ignored.
Chainlink Integration for Guaranteed Randomness
Finally. to ensure there is no bias in the lottery and that winners are truly selected randomly, we’ve integrated the Chainlink VRF feature into our lottery system. Nobody, not even a member of the Kryptomon team will be able to influence the lottery in any way and guarantee someone a win.
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A Step by Step Guide… with Pictures!
The process of staking your $KMON and participating in the lottery is quite simple. Simply head on over to our website where we’ll soon be releasing a dedicated staking page, choose an amount of $KMON to stake and you’re done!
Step 1 — Select the amount of $KMON you’d like to stake and confirm it. Once this is done, your tickets will be allocated to you automatically over time.
Step 2 — When you’re ready to participate in the lottery, use the slider on the same page to choose how many tickets you’d like to bet. Here in this example you’ll see that I’ve chosen to bet just over 9 million tickets in this week’s lottery.
Hit the “Play” button to confirm your choice.
Step 3 — If done right, the section on the right will then show how many tickets you’ve bet in the current week’s lottery.
Step 4 — Finally, if you were lucky enough to become the winner of a Kryptomon egg, you’ll see an additional window near the top of the screen with a button to claim your prize!
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Frequently Asked Questions
How many tickets will I get if I stake X number of $KMON?
The simple answer is… no one knows! This is because the number of tickets you receive is dependent on the percentage of your KMON against the total amount of KMON in the pool.
Eg: If there are 100 KMON in the staking pool and you stake 1 KMON, you’ll receive 1% of the tickets.
As we’re unable to predict variables like:
- How much KMON will be staked at any point in time
- How often will people add or remove their KMON
It’s impossible to guarantee an answer that you’ll receive X tickets for every Y KMON staked.
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Are there any minimum or maximum KMON amounts that I’m limited to when participating in the staking pool?
There is not! Feel free to stake as much or as little KMON as you like. Obviously, the more KMON you stake, the more tickets you’ll receive, which increases your chances of winning. But it’s still definitely possible that you play only 1 ticket and still walk away a winner!
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When will winners be announced every week?
Winners will be announced every Sunday at 12am UTC! All tickets that were bet in that week’s lottery will then be burnt (regardless of whether you win or lose)
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Are there any lock periods when I stake my KMON? Can I unstake them at any time?
There are no lock periods! Tickets are awarded on a block by block basis (every 3 seconds) so feel free to unstake all or part of your KMON at any time.
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How many eggs will be given out as rewards per week?
This was addressed in the article. The simple answer is 10% of the number of participants in the lottery! Remember, it’s the number of lottery players (the number of unique wallets that have bet a ticket in this week’s lottery) and not the number of stakers.
This means that if in Week 1, 200 unique wallets chosen to play their tickets, then 20 eggs will be given out.
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How many times can I win?
You can win once per week. If you’ve won in Week 1, it’s definitely still possible for you to win in Week 2 or Week 3. However, it is impossible for you to win twice in Week 1.
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$KMON staking will begin on the 10th of September 2021, but it’s important to note that all of the information above is still subject to change. While we believe we’ve come up with the most ideal balance between egg supply/demand and giving trainers an incentive to stake $KMON, we don’t pretend we have all the answers.
As always, our co-creation promise to you means that we’re still open to feedback from all our trainers. Do you think there’s a better rule that could be implemented in the egg lottery? Is there a loophole that we’ve missed that you know how to solve? Let us know via the usual social media channels and we might incorporate it into the rules before the lottery begins!
See you in game, fellow trainer.