Staking rewards are a way to reward CROWN ($SMCW) token holders for taking a long term mindset and locking up their tokens and removing them from the available circulating supply. Holders will be able to stake their tokens through a future staking dashboard and earn CROWN token rewards.
While the intial staking rewards will come in the form of CROWN tokens, we plan to eventualy shift to rewarding NFTs, skins, and in game perks. Utilizing alternative rewards will allow us to benefit stakers without diluting CROWN.
Additional allocation will go towards market liquidity.
Space Misfits DAO
Staking CROWN will give you voting rights in the Space Misfits DAO. Over time, the game will continue to move to a more decentralized model putting more control in the hands of the community. Marketplace fees will contribute to the DAO treasury and the disposition of these funds will be determined by the DAO long term. JENJ genrated from NFT and FT transfers(net minting cost) will also be held in the treasury. This JENJ can potentially be used to buy back CROWN from the exchanges and control CROWN supply. In the short term, Jade Stem Studios will act as custodian for the DAO treasury. During this phase, they will not distribute any funds except the marketplace fee rewards for Space Station Ownership Token, MFT, and MST holders. As quickly as possible, the treasury will be under the complete control of the DAO.
During the initial stages of release, the Studio may ask the DAO to vote on key development decisions such as the following examples:
Content for the next season of gameplay
Third-party collaborations to pursue in-game skins integration
Projects we may want to share into or out of an existing Metaverse
When the DAO takes control over the treasury the community will have decentralized and democratized control on how all funds will be spent. Some examples of what could be proposed and implemented are:
Implementing a new Yield Farming program
Deciding on a new play to earn structure or payout schedule
Organize and fund Esports tournaments and competitions
Fund a community project to develop a game within the game where community members could create gameplay within the broad universe Space Misfits is creating. (CREATORVERSE)
Percent of Supply
Play to earn and Staking/Staking Rewards have a combined 50% allocation and will adjust over time depending on the governance of the DAO.