Guild Of Guardians role-playing game has announced the $GOG token staking with a prize pool of $5 million $GOG tokens in rewards. The staking began on November 7, 2022, and will run for the next six months. During this period, players will earn $GOG tokens each week in proportion to the amount of tokens staked during that particular week.
How to participate in the staking event?
To participate in the staking process, players must keep the $GOG tokens in the IMX wallet to be eligible to earn more tokens. Besides the tokens, the wallet must have a rare or better Guild of Guardians NFT Hero. Also, to receive weekly rewards, at least one of the tasks, including Trade, Stash, and Vote, must be completed.
Trading means you have to buy/sell any Guild of Guardians NFT on the secondary market. Stash means increasing your $GOG balance on IMX, and Voting means casting a governance vote using $GOG tokens.
Some players may not have $GOG tokens in IMX currently. Those who want to transfer tokens need to follow the same process as ETH. A Metamask wallet with enough Ethereum to sustain the gas fees would work while transferring $GOG tokens.
What are the rewards?
The total prize pool for the staking event is $5 million $GOG tokens. The rewards depend on the reward rate derived from the number of tokens staked and the daily streak of holding $GOG tokens in ImmutableX. There is no minimum amount of staking. For active staking, players will receive the first payment in December 2022. Guild of Guardians has also announced that players with $GOG tokens already deposited before November 13, 2022, will be eligible for a 2x weighting bonus.
What is Guild of Guardians?
Guild of Guardians is a multiplayer fantasy RPG in which players can build a team of “Guardians” and compete to earn prizes and tradeable rewards. The game will be published by Immutable Games and is developed by the renowned mobile gaming studio Stepico Games.
In the game, players have to select guardians and join guild competitions. In addition, players can craft in-game items and new heroes by collecting resources and selling them for fiat money. It is a free-to-play game that runs on the high-speed Immutable X Ethereum Layer-2 network. A full release of the game is expected in Q2 2023.
About $GOG Token
The native token of Guild of Guardians is $GOG which is used to pay for in-game assets. It is also a governance token and allows holders to participate in governance activities. Players need to spend GOG tokens for each action in the game, such as minting a new asset, making a sale, or purchasing NFTs. The tokens used to mint and trade assets are added to the Rewards Pool. Players receive rewards in the game based on the number of tokens staked and used for voting. The maximum supply of $GOG is 1 billion tokens.