Good news! Staking is now live for GENE, the governance token of “move-to-earn” NFT game Genopets. Those who stake their tokens stand to earn multiple rewards such as GENE, NFT, KI (in-game reward tokens), in-game boosts, and voting power.
As of now, holders can choose to stake GENE from 1 to 24 months at max. Those who lock their tokens for 24 months will earn 20x more than others. So, how can you stake your GENE tokens? Read on to find out!
Genopets GENE token staking is live: How to stake GENE?
If you have any excess GENE tokens to stake, just head over to Genopets’ official website and look for the Staking tab. Then, connect your Solana wallet (usually Phantom wallet) to the site. If you wish to add more GENE to your wallet, you can use Jupiter Exchange to swap SPL (Solana Program Library) tokens to GENE.
Next, click “STAKE GENE” and select your staking period. Obviously, you will need to input the staking amount too. Once done, you can start viewing your GENE staking rewards, vesting progress, and remaining lock-up period on the Genopets dashboard.
How to claim the staking rewards?
You can always claim your GENE staking rewards from the Genopets dashboard. However, staking rewards are locked for 1 year by default. So if you don’t want to wait for the tokens to unlock, you can claim them in the form of sGENE (Synthetic GENE) tokens. According to the team, players can only use sGENE for in-game purposes.
What can I do with GENE?
There are many use cases for GENE in the Genopets‘ ecosystem. Apart from acting as a governance token, players can use GENE to craft and level up Habitats in the game.
Moreover, GENE is the primary token for players to purchase Genopets NFTs such as during The Genesis Genopet Fair Launch, Treasure Hunt, and Genesis Habitat mint. If you want to know how play-to-earn works in Genopets, you can always refer to this beginner’s guide.