No BS, just a simple guide on what you need to start earning up to 702% APY (and more), and mint the staking contract as a free NFT! LFG!!
Ethlas strives to create a friendly and long-term focused community. Before you proceed, we want to give the usual disclaimers: Ethlas is NOT a provider of financial advice, and blockchain and crypto technologies come with inherent risks. Please do your own research on staking yield, NFTs, liquidity pools, impermanent loss etc before making decisions to proceed!
Executive Summary
Before we begin, we thought it’d be good to recap some key terminologies and concepts in Ethlas:
- GEM is the in-game currency you know and love. You earn these by playing Ethlas games, and you use them for in-game purchases and upgrades.
- XGEM: An ERC-20 token representing your GEM. Take your GEM off the Ethlas platform to trade or stake by converting GEM into XGEM at a 1:1 ratio in the Ethlas Marketplace. Once the conversion is complete, the XGEM will appear in your Metamask wallet! You can also buy XGEM on Quickswap, and bring it to the Ethlas platform to be converted 1:1 back into GEM.
- QuickSwap LP Tokens (also known as UNI-V2): You can take your XGEM and add liquidity to the XGEM:MATIC liquidity pool (remember, you’ll need some MATIC as well for that pool). QuickSwap pays you a portion of fees for being a liquidity provider.
- Stake your QuickSwap LP tokens on Ethlas to be eligible to earn up to 702% APY, depending on how long you choose to stake. Once you’ve staked your funds, Ethlas will distribute Gem rewards to stakers based on the relative proportion of your stake vs the overall staking pool.
- Windblown NFTs: Here’s where it gets interesting. Most projects will provide you with a generic staked token as a receipt of your participation, and call it a day. Ethlas will give you a randomly-generated NFT from our Windblown collection to be wrapped around your sGEM. sGEM will automatically mint into a Windblown NFT, and your Windblown will have artistic value as well as monetary value. The Windblown NFT entitles the holder to their original share of the QuickSwap LP token, and all of the accrued rewards, AND is a piece of art that can be traded.
- Collecting your funds: Once the staking period is up, you may decide to redeem your funds (or continue staking). If you choose to redeem your funds, you will receive the proportionate amount of XGEM and MATIC based on the liquidity pool’s ratio at the time of redemption, plus any accrued rewards. However, the Windblown NFT that is wrapped around your sGEM token will be released and allowed to roam free in Ethlas again. So think hard about whether your Windblown NFT is worth more intact, or destroyed!
Agenda
- XGEM Public Sale on Quickswap (28 Dec 22:00H UTC +8 onwards)
- Windblown NFT Staking Event on Ethlas (29 Dec 22:00H UTC +8 onwards)
- Minting your first Windblown SGEM (Staked Gem) NFT
- APY calculations and how you can be earning more than 702% APY!
- FAQ
Pro-Tip — We have found that complex transactions are best done on Desktop for the best user experience. LFG!
Public sale: 28 Dec 22:00H (UTC +8)
- From 22:00H onwards, XGEMs that were pre-purchased from whitelist sales will be airdropped to player wallets. It’s difficult to predict congestion on Polygon, but we’ll monitor it every second to keep you updated!
- Switch your MetaMask to the Polygon network, or add the network if needed. Use this guide if you need help.
3. Head to https://ethlas.com/app/staking, click “get started”.
4. Add XGEM token to your MetaMask wallet. If this doesn’t work, you can manually add the XGEM contract address: 0x02649C1Ff4296038De4b9bA8F491b42b940A8252
5. IMPORTANT: At this point, ensure you have enough MATIC for gas.
6. Swap MATIC for XGEMs. Pre-sale participants would have already received their XGEMs, but you can swap more as whitelist pre-sales was completely sold out and many players wanted to buy more XGEMs.
7. Input the amount of XGEM you wish to buy, and Quickswap will let you know the equivalent MATIC cost. Note that all transactions will be shown in terms of XGEM and MATIC only. Once approved, you’ll see your XGEMs in your MetaMask wallet. Congratulations on owning XGEMs!
8. Head back to the Ethlas staking page and click “refresh” to show your updated XGEM balance. Add liquidity for MATIC<>XGEMs on QuickSwap and wait for the transaction to go through. You will receive a number of LP tokens depending on how much you staked!
9. Return to the staking page and click “refresh” to see the updated LP token amount you own. As long as your LP token balance shows up on the Ethlas page, you’re all set to start minting your very first Windblown SGEM!
10. Congrats on reaching this point! Repeat the steps to get more QuickSwap LP tokens if needed, and hold tight to your LP tokens until the staking event starts on the 29th of December!
Staking: 29 Dec 22:00H (UTC +8)
- Return to https://ethlas.com/app/staking. It should reflect your available number of LP tokens.
2. Input your desired amount of LP tokens to stake and choose a staking period. The reference APY for 6/13/26 weeks is 174%/404%/702%.
- The longer you stake, the more exponential the rewards become.
- All rewards are paid out in GEMs, which will ONLY be redeemable once the staking period ends. Note: You CANNOT terminate a SGEM prematurely after minting, so only choose the staking tenure you’re comfortable with.
3. Success!! Once you mint a Windblown SGEM, you will be issued a unique windblown elemental, which ranges from Common tiers to the elusive Celestials. The details on the staking period, # of LP tokens locked in and other properties will also be captured in your Windblown ERC 721 SGEM.
Can I trade these NFTs?
- Absolutely! Once you own the NFT, you should see the corresponding staked token (screenshot on the right)
2. As soon as the contract is done minting, you will be able to see your own unique Windblown Elemental on OpenSea, including in the overall Windblown OpenSea Collection!
APY calculations and why you could be earning more than 702%!
- APY GEM rewards are paid out in a 12 hour tranche cycle
- If you finished your vesting period, but still continue staking, you will still earn the same estimated APY rates that you first got when you staked.
- 702% is based on a certain number of participants in the pool, so in the early days of the staking pool, or if the number of participants are lower than anticipated, all loyal stakers actually earn much more than 702%! And that’s our way of rewarding our diamond hands believers!
- ALSO, The first 50 wallet ID that stake >$2000 worth of LP tokens in equivalent Windblown SGEMs will win a Komo egg, while stocks last!!
FAQ:
How do I get $MATIC?
Buy MATIC from Crypto.com, Binance, KuCoin or your preferred means.
How do I bridge $MATIC on Ethereum over to Polygon Mainnet?
If its on Ethereum, use Polygon Bridge to bridge over to Polygon (guide)
My balance amount on Ethlas is not updated
Click on the refresh button if needed, especially right after signing a MetaMask transaction.
How do I import my NFT into MetaMask?
- MetaMask desktop plugin does not support this currently, so only mobile is available. Open the MetaMask app, switch to Polygon Network, and click “Import NFTs”
- Add the contract address and the ID of YOUR NFT
- And WALA! Your SGEM NFT imported to your MetaMask app!
Ethlas is a F2P/P2E GameFi Metaverse, the casual games aggregator platform for players to play games and earn crypto rewards. Voted “Best NFT/GameFi project in 2021” by Polygon Foundation, and ranked #1 blockchain casual game on playtoearn.net. We are the largest GameFi project headquartered in Singapore, with a stacked team of founders and backers.
Official Links:
Website: https://ethlas.com/
Discord: https://discord.gg/Ethlas
Twitter: https://twitter.com/Ethlas_Official
Telegram: https://t.me/Ethlas
