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Staking

The key question in every web3 project is what does staking do for the ecosystem?

Here, in the comprehensive IRL and virtual web3 fashion advancing hyper-local production networks that DIGITALAX exists to cultivate and serve, the most important of all functions staking serves is the deconcentration of token creativity, production, trade and access.
Furthermore, it is an incentive to diversify usage, adoption and continued circulation between a growing number and range of holders.
In line with this, the upcoming week brings to completion the full mint of the Max Supply of $MONA — 11,300 tokens.
Moving forward, staking will unlock token governed access to maps locations, events, storefronts, and drops according to a staker’s amount, variety, activity and length of time staked. This will continue to take place through the current staking interface and contracts until new interface updates are released through Layer X development.
As we continue to build enhancements to maps, realms, storefronts, and production coordination tooling, staking is moreover a rechargeable key to the entire ecosystem.
More details of the specific mechanics will be proposed to the governance forum in the coming weeks as functionality continues to be added to the web3 expansion maps DAPP, where all holders can vote.
Token governed access that is time, place and condition aware is best understood in the form of regenerative gates — to locations, events, storefronts, and drops — which provide increasing opportunities for market activity allocation.
As reinforcement of the deconcentration role played by stakers in the functioning of Layer X maps, market activity allocation will extend to all sales of NFTs and related products made through DIGITALAX gates. Market activity allocation distribution will continue through the current staking interface and all specifics in terms of allocation amounts will be decided in the coming weeks through governance.
In recognition of community members who are most dedicated to the long term development of the ecosystem, an on-chain snapshot will be taken before the first market activity allocation from web3 expansion maps. Those that continue to stake their tokens from now until then will receive an initial allocation that recognises your long term status. More details on this will also be discussed through governance in the coming weeks.
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Staking is live only on Polygon Network as of Dec 2nd 2021. Ethereum Staking has been de-activated. You can still access the Ethereum staking website to unstake any NFTs and tokens through clicking the "old staking" button in the top right of the staking website here.
Staking is implemented for fair distribution of $MONA, and other core ERC-20s, to the community, as well as allows us to experiment with completely new mechanisms when building at the edge of NFTs x DeFi.
90% of the $MONA token total supply was allocated for staking rewards, with 200 from this allocation providing the initial uniswap $MONA/ETH liquidity upon token launch December 2020 and the remaining 10% being allocated to the DIGITALAX Treasury.
$MONA is distributed to $MONA, MONA/USDT Quickswap LP, Genesis MONA NFT, Fashion NFT stakers on Polygon. This staking distribution is for the additional 1,300 $MONA mint, where 100 was allocated to the DIGITALAX Treasury and the remaining 1,200 for staking rewards. You can read the full ecosystem update in regards to the supply increase here and more information on staking here.
$DECO token is also distributed through staking and NFT appraisal activity in The DLTA System, whereby the token is dynamically allocated to those under the PODE guild in The DLTA engaging in the most active and highest leaderboard scoring appraisals.
Upon the launch of $W3F, distribution will also take place via staking over the course of 24 months, with allocations fairly distributed across ecosystem participants.
The new staking schedule has begun on Polygon. It is no longer live on Ethereum. You can bridge your DIGITALAX NFTs & $MONA token from Ethereum to Polygon to stake. You can also stake MONA/USDT LP from Quickswap. You can stake here.

Staking Mechanics Notes

Staking token distribution is calculated as your % staked compared to the total staked within the pool. If more tokens are staked within the pool then your position is out-weighted/re-weighted relatively. It is recommended that rewards are claimed periodically (i.e. once per week) and cheaply on Polygon to prevent getting out-weighted.
When rewards are not claimed for a prolonged period, the risk increases that the weights which determine distribution will shift substantially during that time. The UI only gives an estimate of the tokens/$MONA allocated and is not fixed i.e. if not claimed and the % staked within the pool changes then the rewards are reallocated to correctly match ownership amounts at time of claim.