Midas.Chain NFT System

The description of the NFT System of the Midas Chain

As has been said before, the Midas.Chain Star NFT Collection represents the tokenization of the Midas chain, and will provide ownership of the Midas.Chain™ ecosystem. There are:

  • 100 Golden Star NFTs.

  • 1000 Silver Star NFTs.

  • 10000 Bronze Star NFTs.

Acquisition of these Star NFTs can also be done by acquiring Star Fragments. Each Star NFT is comprised of 1000 Star SFT Fragments. Therefore there are a total of:

  • 100.000 Golden Star SFTs Fragments.

  • 1.000.000 Silver Star SFTs Fragments.

  • 10.000.000 Bronze Star NFTs Fragments.

These Midas Star NFTs will serve as the key requirement to create Midas.Chain™ Validators on the MultiversX™ Sovereign Chain.

Validators can be opened by either owning Full Star NFTs, or by pooling together Star SFT Fragments. The requirements are as follows:

  • 1 Golden Star NFTs allows opening 5 Validators;

  • 2 Silver Star NFTs allows opening 1 Validator;

  • 20 Bronze Stars allows opening 1 Validator;

  • 200 Golden Star Fractions allows opening 1 Validator.

  • 2.000 Silver Star Fractions allows opening 1 Validator.

  • 20.000 Bronze Star Fractions allows opening 1 Validator.

One must differentiate between an online Validator, and an online Validator that has been randomly chosen to validate the current Epoch.

Reward Schema

The Midas Chain Star can be in one of the following states:

  • NFT as part of a validating Validator.

  • SFT as part of a validating Validator.

  • NFT as part of a Validator.

  • SFT as part of a Validator.

  • Free Full Star as NFT.

  • Free Fragmented Star as SFT.

NFTs and SFTs can be pooled together to enable the running of validators.

The rewards can be earned in the following manner:

Hybrid Node Approach

All kinds of SFT Fragments, or NFTs can be pooled together to open a validator. Each entity is assigned a certain Midas Power as depicted Below:

  • Golden Star NFT has 100.000 Midas Power

  • Silver Star NFT has 10.000 Midas Power

  • Bronze Star NFT has 1000 Midas Power

  • Golden Star Fragment SFT has 100 Midas Power

  • Silver Star Fragment SFT has 10 Midas Power

  • Bronze Star Fragment SFT has 1 Midas Power

20.000 Midas Power is Required for the Validator to be active.

The allocation of OURO cumulated from GAS fees will be contingent upon the quality of the NFT/SFT that has been utilized to create the Validator. The distribution will occur in the following manner:

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