Elysium Forges are now available for those willing to stake PYR tokens, the governance currency of the Vulcan Forged universe. In this stake and earn system, Forge holders receive LAVA tokens in return for staking PYR token. Additionally, stakers can enhance earnings by owning certain NFTs!
Vulcan Forged introduces Elysium Forges, a staking mechanism for PYR holders to earn LAVA tokens.
The basics are simple. Stake PYR to receive a Forge. The level of Forge and rewards it accrues are based on the amount of PYR tokens staked. The lowest tier, the Cyclops Forge, takes 2,000 PYR tokens to acquire. There are six tiers in all, with the top tier, the Kraken Forge requiring 64,000 in locked tokens. It’s unclear if these Forges are actual NFTs or just account badges.
Either way, payouts for Elysium Forges are made every week with daily snapshots to determine Forge eligibility. Forge owners can just hold for passive earnings, or choose to lockup their Forge for a 60 or 120 day period.
More About Elysium Forges
The base earning potential is an unlocked, Tier 1, Cyclops Forge. Then, every increase in Forge Tier and Forge lockup period sees an increase in the potential income, up to 169% for a Tier 6 forge with a 120 lockup period.
In addition, players can earn even more bonuses based on owning Olympian or Titan God NFTs, Vulcan Forged Old Guard badges, and Vulcanite NFTs. OG Badges offer a 2.5% bonus, while Olympians and Titans grant a 5% bonus, 15% for Zeus or Cronus. Bonuses for God NFTs do not stack. And, using the NFT Pool, players can stack Vulcanite NFTs up to five deep, providing bonuses based on their level, up to a maximum of 10% total bonus.
So, some pretty significant reward increases for owning and holding these NFTs! Earnings for Forge owners come from transaction fees on the Elysium blockchain and are distributed as LAVA tokens.
In short, this is just a fancy staking system. Stake PYR, earn LAVA. With some bonuses for owning certain NFTs and staking for longer periods. Unfortunately, I can’t give you a direct link to the page to stake for these Forges, as I couldn’t find it! Presumably, it’s somewhere in their webpage. You can read more about the Eylsium Forges here.
What is Vulcan Forged?
Vulcan Forged is a web3 development company that began with an MMO-style game called VulcanVerse. Since then they have expanded, creating their own network, Elysium, adding dapps such as the Agora marketplace and Vulcan Dex, and building a number of play to earn games. Their suite of games includes VulcanVerse, a fantasy MMO, Berserk a TCG style game, Vulcan Runner, Vulcan’s Tower Defense, Vulcan’s Forge Arena, Vulcan’s Battle Chess, Vulcan’s Poker, and Block Babies!
The Vulcan metaverse uses two tokens, PYR and LAVA. LAVA is the in-game, play to earn currency. PYR is the governance token, used for staking and other sorts of activities.