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The Pirate Nation Foundation has introduced staking for $PIRATE, the utility token of the on-chain RPG, Pirate Nation. This new feature offers various benefits for players and supporters.
Staking $PIRATE tokens rewards users with Proof of Play Points. Proof of Play, the company behind the token’s play-to-earn title, is developing its own on-chain infrastructure and ecosystem. These points aim to reward early supporters in the studio’s Apex blockchain. While specific rewards for these points are not yet detailed, they might be converted into the upcoming token for the Apex blockchain.
Early stakers receive a bigger Points multiplier, with a 50% bonus available for those who claim and stake their tokens in one transaction. Staking Founder’s Pirates further increases daily Points accrual.
Interestingly, staked tokens can be spent without unstaking, allowing holders to buy items like Gems without affecting their Points multiplier. A 10% discount currently applies to Gems, with future discounts on limited edition items teased in the official thread.
Unstaking is flexible and can be done at any time. However, unstaking removes your staking multiplier and resets it based on the number of tokens staked. Unstaking a Founder’s Pirate results in the loss of all accumulated Points for that NFT.
Besides staking, the $PIRATE token has several other uses in the play-to-earn game. It can be used for crafting, asset customization, exclusive guild utilities, and purchasing Gems. Players earn $PIRATE through leaderboards, competitions, special game events, unique in-game achievements, and seasonal quests.
Gems, purchasable only with $PIRATE tokens, are essential for acquiring resources, energy, the Battle/VIP Pass, and more.