Terms

Staking

Staking refers to the act of delegating NFTs from the user's wallet to the Favor Station and obtaining a specified number of Favor as a reward for it. All NFT entry and exit records through staking are recorded on-chain, and information about the user's NFT ownership is kept safe.

* When staking, NFT move from the user's wallet to the wallet of the Favor Station, so you can check the NFT from FAVORLET only not other regular wallets. FAVORLET Download and Use Guide https://docs.favorlet.io/v/english/favorlet/user-guide

Unstaking

Unstaking refers to the act of returning your own NFT based on the staking entry and exit records. In case of unstaking, a small fee will be charged per NFT, and a "lock-up" period will also be given to wait until it is returned to the wallet address.

Lock-up

Lockup refers to the wait time from the time of the unstaking request to actually receive the NFT back. There is a 12-hour wait time from the time of the unstaking request to the actual return, and when the lock-up ends, the user can receive the NFT back through a claim. During the lock-up period, there is no Favor reward. If you want to get your NFT back immediately without a lock-up period, you can get it back after paying the specified unlock fee per NFT.

Claim

It refers to the act of withdrawing Favor paid as reward for staking into my wallet. At claim time, a fixed fee per NFT is deducted in advance from the reward. This limits the claim if the claimable reward is less than the fee.

BOOST

This is a concept that only applies to Sunmiya Club NFTs, meaning additional staking of "Sunmiya Club x MetaKongz Collaboration NFTs" on the staked NFTs. You can reap a yield of +150% of the base reward of the staked NFT. However, when applying boost, the application of boost is restricted if the claimable reward is less than the fee.