NFT STAKING IN DOGE CAPITAL

Hello Woofers. In the previous article, you were introduced to Doge Capital, how it all started, and every essential detail. This article will be focused on the progressive nature of Doge Capital through NFT Staking.

WHAT IS NFT STAKING?

This is one of the numerous ways a blockchain-powered project provides passive income to users. It is a common feature in NFT Projects like Doge Capital or blockchain-based projects. For the record, NFTS are unique cryptographic assets that possess their unique identification system, making them valuable in reality.

Like cryptocurrency, Non fungible tokens (NFT) can be staked in exchange for rewards or gains in crypto. For the smooth run or functionality of blockchains, validators need to authenticate each transaction. This depends on the amount of cryptocurrency or tokens pledged by the validators. In simpler terms, it means that validators earn rewards for staking their assets or cryptocurrency for the smooth run of blockchain. The method of committing crypto tokens or assets is known as the “proof of stake” model, and the process is called Staking.

NFT Staking is simply about locking up your NFTs of a particular project to get passive income or rewards in the form of cryptocurrency, and you also get to have your NFT back. It is like a win-win situation; in the end, you earn more crypto tokens and your beloved NFT.
Indeed the staking process in the case of $DAWG, is the only way to farm the $DAWG liquidity emission. If not a single Doge is staked, there isn’t any token emission left on the market.

NFT STAKING IN DOGE CAPITAL:

Beta version 1

NFT Staking is one of the grand plans of Doge Capital, as included in the first roadmap. However, the plan was to release it in stages or levels, with each stage being different from the other. Currently, the second staking level is live, but let us consider the first staking level.

The first level was the beta version of NFT Staking. It was launched in early December 2021.
Holders of Doge NFT and Golden Woofers were eligible to stake their NFTS in exchange for a portion of the $DAWG token emission, the native cryptocurrency of the Doge Capital ecosystem.
1 Golden Woofer staked = 1 $Dawg/day
1 Doge = 5 $Dawg/day
There were mild beta limitations that restricted holders interested in staking to stake only 4 Nfts per wallet, and had plenty of bugs in usage.

Beta Version 2:

The second stage of the Beta Version for staking was released in January 2022. This upgraded staking comes with so many developments:

- The limitation of NFT to be staked has been upgraded from 4 to 10.
- The withdrawal bug which hindered stakeholders from withdrawing their proceeds has been fixed.
- The staking bug has been fixed, which guarantees a seamless staking transaction for stakeholders—every bug reported by the community after the first Beta versions have been set.

BENEFITS OF STAKING DOGE CAPITAL

There are numerous benefits of Staking NFTS, especially Doge Capital NFTS, but the important ones will be outlined below.

• Being a stakeholder makes you part of the Woofbank owners at first. The percentage of your claim depends on the worth of your stake NFTS. Think about being part of the owners of a Woofbank where about 70% of royalties are sent to.
• Staking your Doge Nft guarantees passive income depending on the amount of NFT stacked and the period. Staking your NFT assures you at least one dawg token per day; if you risk 1 Golden Woofer. Think about betting your NFT for several months or a year. The number of dawgs withdrawn at the end of the planned period would be of value.
• If you are worried that staking your NFTs in Doge Capital for some time might be a loss, be rest assured that the project has started hitting off utility for the token. The Doge Capital Merch was launched recently, and the team is working on plans for the dawg token’s integration into the Metaverse.

• Doge Capital Project has continually shown that it is a trusted project. Their roadmap and updates show that the team is working towards achieving the goals outlined. Why not invest and stake your NFT in a trusted and transparent project like Doge Capital?
• Despite the Solana network issues, The floor price of the Doge Capital NFT is around 0.53 on Magic Eden. This implies that the project is not a rug project despite the shaking conditions. Even in this bearish season, Doge Capital has continued to progress by launching the Silver Woofer on Magic Eden this week.

SIMPLE GUIDE ON STAKING YOUR DOGE CAPITAL NFT

When you are on the site, in "Stake your NFT" tab:
- Click "import from wallet" and wait a bit.
- Click on the stake button to individually stake your NFT.
- You can stake up to 10 NFT.
- In the "your staking list" tab, you can unstake individually any of the NFT you have previously staked.
- 1 Doge NFT = 5 $DAWG per day.
- 1 Woofer = 1 $DAWG per day.

To claim your $DAWG tokens click on the Withdraw button.
- Having a Doge NFT + Woofer NFT stake is compulsory for claiming stake rewards.
- A random Woofer gets burnt during the $DAWG withdrawing transaction.

CONCLUSION

The BetaVersion2 for staking your Doge Capital NFT is now live! Everyone should hop on this. The advantages range from monetary to being part of a progressive project that makes a massive difference in a world dominated by scam and rug projects.
WOOF. WOOF.