🍄The Nexus (Single-Sided Staking)
Single-sided Staking of $LORDS and LP tokens
Last updated
Single-sided Staking of $LORDS and LP tokens
Last updated
Protected by the Citadel’s towering walls and elevated atop a mountain, the Nexus has existed as long as Adventurers can remember. The Nexus is an all-seeing, omniscient machine that keeps the Realmverse at equilibrium.
For generations, Adventurers have scaled the Citadel mountain peak to pay tribute to the Nexus and contribute $LORDS to fuel the machine. These brave and generous Adventurers are rewarded with excess runoff from the network in the form of $LORDS.
Web3 is Read, Write, Own. Bibliotheca DAO’s vision from inception was to have the players own the gaming protocol and actively contribute to the direction and metagame.
Up until the time of writing, $LORDS emissions have only been emitted either by staking your Realm or by providing liquidity to the Uniswap pair. This initial structure was intended to reward Lords & Ladies who invested in the early days of the project with high yields for a short period of time. As planned the rewards are switching now to a sustainable long-term model.
Below we outline our vision for a sustainable, non-inflationary single-sided staking mechanism, which allows players the opportunity to contribute to the growth of the protocol and be rewarded for doing so.
$LORDS are emitted via settling of Realms beginning with epoch 0. These are set at 25 per day and decrease slowly overtime to balance inflation with growth, with the total distribution taking a minimum of 3 years.
As a holder, you have to make a choice where to store your $LORDS which are outlined below.
All transactions within the protocol rely on $LORDS; The NFT Marketplace, AMM, and in-game purchases. And with these transactions comes a fee (to power the Nexus). These fees are currently set at the following %, however, as with any decentralised protocol, governance can vote to alter these.
AMM (Automatic Merchant)
1.5%
NFT Marketplace
5%
In-game items
100%
The fees flow into a splitter account which manages the % between the Nexus and the Bibliotheca DAO Treasury. The division % is still to be determined and will be adjusted via a DAO vote.
Note: all mainnet fees (eg OpenSea, LooksRare etc) will be sent to the mainnet Bibliotheca DAO multi-sig.
Players have two options to choose from, or can choose both:
The $LORDS are offered to the Nexus and in return receive run-off from the network's overflow.
Players will stake their $LORDS in the Nexus and be rewarded per block according to the previous 24hr trading period. Your reward is calculated according to your share of the over offerings.
The Nexus likes to be fed a steady diet of Resource/$LORDS position tokens. In return, it rewards Liquidity Merchants with $LORDS.
After creating an LP position, you are returned your position in the form of LP tokens. With these, you can then stake them within the Nexus with one click. From here your position will begin earning $LORDS according to your overall share of the LP position $LORDS pool.
By staking your LP tokens you will earn both fees:
LP Fees -> These accrue to your position in the form of Resources and Lords. Impermanent loss is possible while you have positions. Be a weary traveller.
Nexus $LORDS -> These are claimable whilst your LP position is staked.
