The time has come. The Staking Barn you’ve all been waiting for is finally here! Thank you all for being patient as we roll out this feature that we are extremely proud of. We’re confident that you will love this and the wait will be well worth it.
In this article, you will learn the following:
- What is Staking Barn?
- Where to access it?
- How to participate and start reaping the benefits?
- What’s next?
Let’s dive in, shall we?
What is Staking Barn?
Staking Barn is a new feature on TT Farm that brings more utility to $FTT. Users can now stake their $FTT in the Staking Barn and enjoy VIP benefits such as price discounts and boost their animal’s APRs.
Where to access it?
First, visit https://ttfarm.xyz/. You will see an image of a Barn. Click on it to enter.
Once you enter, you will see three sections: Barn guideline, VIP status, My seeds. These 3 elements are key to the benefits of the Staking Barn. When you learn them, you can maximize your earnings on TT Farm even more.
How to participate and start reaping the benefits?
Let’s get to the good stuff. Let’s assume you have 100 FTT and have been holding it, you can stake it immediately in the Staking Barn. Currently, we have 4 levels of $FTT that you can stake, and they are 100 FTT, 1,000 FTT, 10,000 FTT, and 100,000 FTT.
VIP Status and Seed
Once you stake your $FTT, you will immediately be recognized as a VIP on TT Farm. Just like there are 4 levels of how many $FTT you can stake, there are also 4 VIP levels that reflect your staked $FTT.
When you are a VIP on TT Farm, you will automatically get a discount on all the animals on our farm. Here’s a chart explaining how much discount you will get:
The discounts only apply to animals you can purchase with stablecoins (BUSD, USDT, USDC, HUSD). And as long as you have the right amount of $FTT staked, your VIP discounts will continue to go on.
When you stake your $FTT, you will also get Seeds. You will get 20 Seeds for every 100 FTT that you stake. There is no limit to how many Seeds you can collect; the more you stake, the more Seeds you’ll earn. Seed is what you’ll spend to boost an animal’s APR.
You will need at least 40 Seeds to boost an animal’s APR. And once you decide on which animal you want to boost APR on, you will spend your Seeds to initiate the boost. Here’s a chart explaining how much APR you can boost per Seed you spend:
Only certain animals can get their APRs boosted. Check and see if there is a Boost APR logo next to the animal; if there is one, then go on right ahead! You can also check the “Only Boost Animals” box on the top right corner to only show the animals whose APRs can be boosted.
You may ask how to unstake your $FTT from the Staking Barn. Well, here’s the caveat: The only way you can unstake your FTT is if your Seed collection goes to 0. That means as long as you have Seeds in your possession, your $FTT will continue to thrive in the Staking Barn, earning you VIP benefits.
Here’s a scenario of how VIP discount, Seed, and Boost APR work:
- Bob wants to purchase an animal with 10,000 BUSD.
- Since he staked 100,000 FTT, he, therefore, enjoys a 30% VIP discount. Meaning he only spent 7,000 BUSD on the animal.
- As Bob staked his $FTT, he got 20,000 Seeds in return (20 seeds per 100 FTT staked).
- Bob can then spend the 20,000 Seeds and boost the APR of certain animals.
- Once the Boosted APR animals have died, and he has spent all his Seeds, he can then unstake his $FTT from the Staking Barn.
Well, we don’t want to spoil the fun too early, but in the future, Seeds will gain more utility. Staking Barn Governance? A Seed Marketplace? Special access for Seed Holders? Who knows? Stick around to find out!
That’s all for now dear Farmers. We hope you enjoy our Staking Barn as much as how we enjoyed developing it for y’all. Our designer is also drawing out more cute animals and they will be released in the near future. Keep an eye out for new updates by following us on our socials.