The basics of staking

Staking allows you to take advantage of your NFTs and earn a passive income.

Providing liquidity

• What happens when you stake?
  • NFT is added to the vault
  • You get a ERC20 token in exchange
  • You Add that token plus the equivalent ETH to the vault liquidity pool
  • Get back an SLP token
  • The SLP token is staked on NFTX
  • You earn a share of all the vault fees that are earned on the vault
• Note: you are giving up ownership of your NFT, anyone can buy/redeem it from the vault. You will have your 1 token which you can use to redeem a random NFT from the vault still (or 1.05 tokens to choose one.)

Removing your liquidity

• How it works?
  • The Link will take you through the process of unstaking your position on NFTX.
  • Visit nftx stake
  • Click on the minus (-) button on the position you want to unstake (this step claims your rewards as well, so you won’t need to do that first). This withdraws your SLP tokens from NFTX (Sushi Liquidity Provider token)
  • Go to the token on Sushi.com, the liquidity tab, and remove your liquidity. This returns you your ETH and vault tokens.
  • Use your vault tokens to claim an NFT from the vault or sell on Sushi for ETH

Docs

• NFTx academy staking
• NFTx academy providing liquidity
• NFTx academy removing liquidity
• NFTx pools

Description of work:

• In this Bounties we want to analyze user activity providing and removing liquidity from NFTX vaults. to do this:

  • We first find the contract address of the NFTx pools in the [ethereum_core.fact_event_logs] table. We find these addresses using the topics field in this table.

    • For Redeemed (removing liquidity) we use the value [0x63b13f6307f284441e029836b0c22eb91eb62a7ad555670061157930ce884f4e] in the topics field
    • For Minted (providing liquidity) we use the value [0x1f72ad2a14447fa756b6f5aca53504645af79813493aca2d906b69e4aaeb9492] in the topics field
    • And [(event_name = 'Redeemed' or event_name = 'Minted')] filters.
    • We checked most of the contract addresses we got at etherscan and NFTx pools and the results were absolutely correct.

  • In the next step, we calculate the number of Minted and Redeemed for the contract addresses obtained on a daily basis, based on the pool and based on event_name (Minted and Redeemed). For better comparison and analysis, we get the total number of Minted and Redeemed based on the over time and the last 60 days. We also get the number of unique users who have Minted or Redeemed over the past 60 days

1 ---> Analyze user activity providing and removing liquidity from NFTX vaults

The results and chart above show user activity providing and removing liquidity from NFTX vaults. According to the results, it can be seen that:

• The total number of Mints in the last 60 days is 29.06% of the total Mints over time.
• The total number of Redeem in the last 60 days is 27.09% of the total Redeem over time
• Redeem has more unique users than Mint (both over time and in the last 60 days)
• More Redeem and Mint will be seen in Late May
• The number of Mints in the last 60 days is about 2% more than the number of Redeem

2 ---> Top 3 vaults have seen the most activity over the past 60 days

The charts above show the Top 3 vaults that have seen the most activity over the past 60 days. According to the results, it is clear that:

• The highest number of Mint and Redeem are respectively related to MILADY vaults with 1813, then GOBLIN vaults with 709 and finally WARRIOR vaults with 433.
• Approximately 16.28% of the total number of Mint and Redeem in the last 60 days is related to MILADY vaults.
• Approximately 6.33% of the total number of Mint and Redeem in the last 60 days is related to GOBLIN vaults
• Approximately 3.88% of the total number of Mint and Redeem in the last 60 days is related to WARRIOR vaults

3 ---> Are there any similarities between these vaults or NFT projects?

• To do this, we compare the number of Mint and Redeem in vaults with the number of NFTx sales in the last 60 days on a daily basis.

The above results show the comparison of the number of Mint and Redeem in vaults with the number of sales in NFTx in the last 60 days on a daily basis. According to the results, it is clear that:

• The number of Mint and Redeem in vaults has a similar trend to the number of NFTx sales in the last 60 days. That is, the more sales, the more Mint and Redeem in vaults, and vice versa
• At the end of May, the highest number of Mint and Redeem is seen in vaults, which also shows the highest number of sales in NFTx at this time.
• Interestingly, the NFT MILADY collection shows the highest number of sales (Link) in the last 60 days. MILADY vaults also have the highest number of Mint and Redeem in the last 60 days.