Collect Gallery & Mining Boosters Overview
We’re baking up something special before the Gallery launch.
Read on to uncover great tweaks that will elevate you — literally and figuratively!
What is the Collect.Gallery?
The gallery is a virtual space for collectors to exhibit, buy and sell NFTs along with catch-on features like staking, gamification, renting & leasing space.
Key Gallery Features
- NFT Exhibition — gain awareness as a digital artist or monetize your artwork;
- NFT Sale & Purchase in Gallery — we create a sustainable market for artists and NFT-collectors;
- NFT Staking — stake NFTs within the gallery space to receive the ongoing reward in RACOONs;
- Renting & Leasing Spots — earn from leasing space to others or renting it for your needs;
- Staking NFTs on the rented Spot — rent a Spot and occupy more space to present your art;
- RACOON Staking — hold RACOON token in the gallery and receive a percentage of the staked amount;
- Gallery Room Spots upgrades to stake Booster NFTs — implies a higher RACOON mining rate proportional to booster rarity. Scroll down to get more info on Boosters;
- Upgrading the border of NFT will allow for elevating the mining level separately from the booster rate;
- Gallery Gamification involves finishing mini-games like sliding 8 puzzles and getting a reward in RACOONs;
- Watch to Earn platform: watch advertisements and get Racoon rewards!
Giving you a hint on Boosters in the list above, we are in the preparation mode for Booster Sale — it’s official.
Here we want to strengthen your acquaintance with these assets, with other mining options and features of the Gallery.
What is a Gallery Booster?
Boosters are NFTs that have their own mining rate, starting from 25 to 5000. Boosters will be sold via packs in the next drop(s). Boosters can mine NFTs when you stake them on Gallery Spot.
Boosters are aesthetic visuals that bring more attention to Gallery Spots. In order to get Booster staked, the gallery has to be upgraded.
Every Booster slot requires some amount of RACOONs to be upgraded.
Farming of RACOONs from Boosters will happen on a daily basis.
The Booster is a new special Collect’s add-on asset designed to mine an increased RACOON amount via its staking in the Gallery Spot. In this case, token mining happens according to the distinguished Booster rate.
The higher the booster rarity is, the more RACOONs per day it can produce. The type of Boosters and their mining rate is the following:
Boosters will be farming RACOONs during the whole Gallery farming performance (2 years from Gallery launch).
Afterward, boosters might be exchanged for some other valuable assets.
How to use Boosters?
To stake a Booster NFT you will need to own or rent a Gallery Spot in one of the Gallery rooms.
Each Gallery Spot has up to 6 Upgrade Slots that can be used to stake Booster NFTs. Once you stake a Booster NFT you’ll get a daily RACOON reward! If you rent a place — you’ll share the reward with the Spot owner.
Now let’s have a closer look at the farming itself.
Gallery Rewards and Racoon token farming.
The Gallery Spots farm (or mine) RACOON tokens on a daily basis.
Farming will produce daily rewards at a starting rate of 100 000 Racoon tokens on Day 1. The farming rate will grow by 1% daily, for 347 days and will stop at 3100 275 Racoon tokens. Afterwards, mining will be ongoing at the same rate till the farming pool isn’t issued — this will continue for the next 383 days. As a result, farming will be working non-stop for 2 years.
Gallery Spot mining rate will depend on a number of factors:
- The amount of RACOON tokens staked into the Spot increase the mining rate. For every 100 000 RACOONs, it increases the rate by 1%;
- Spot also can be upgraded via having different borders.
By default, there’s no border. If a user wants to upgrade and get the mining rate boosted forever they have to pay 2 000 RACOONs to move to Border 1, which will give +1% of the mining rate.
Next levels to be calculated.
- Buy and Sell activity on the Spot;
- Gallery has 10% market fees on every operation:
— 5% of every operation will go into the Treasury;
— 2% accumulates into a particular Gallery Spot as a Prize which can be won by someone by getting a special NFT during viewing 10% of Spot prize or buy/sell operation as 50% of a Spot prize;
— 2% goes to Collect;
- Buy and sell activity will have a cooldown, so it declines if there was no operation in the previous period.
This is some kind of indirect liquidity mining via the NFT market;
- Per every 1000 WAX activity on the Spot, a rate will increase by 1%, with a decline of 0.05% per day;
- Gallery Spot owners will define % of rewards that will be distributed to Gallery Spot viewers. The default rate will be 30%.
This creates an incentive to get visitors into the gallery. By default there will be a limit to 20 viewers per Gallery Spot per day, however, every Gallery Spot owner can upgrade and boost that number. By boosting that number the Gallery can also receive a better farming rate among others.
For example, basic Gallery power will be 100, if Gallery attracts 20 viewers (max per day), it will receive 20*100 more power.
Then every additional booster that is implemented on the gallery will give more % there.
For example, 200 000 Racoons staked, will be (100+20*100)*1.02(Racoon booster) = 2142.
So, you’ve just become a real Collect Gallery expert! In the next few days, we’ll have a series of cool engaging activities and giveaways, that will be followed by a genesis Gallery Booster sale.
We also plan to publish a Collect.Social full-scale whitepaper and reveal the next big things that are waiting for you in our project.