What are staking keys

Staking keys are Utility NFTs which let you stake a certain amount of NFTs on R2 Collectibles’ Staking Platform, which will launch phase-1 on the 26th of March, 2022.

You don’t need a staking key to use the R2 Staking Platform to stake your R2 NFTs, but you probably should get one if you plan on staking seriously.

Anyone can connect their WAX or Anchor Wallet and stake up to three NFTs without a staking key, but beyond that you will require one of these keys:

  • Yellow (S) Key: Stake up to 50 NFTs
  • Green (M) Key: Stake up to 300 NFTs
  • Blue (L) Key: Stake up to 1,000 NFTs
  • Red (XL) Key: Stake up to 10,000 NFTs

We can always create bigger keys, but for now these are the options we will start with.

When and where can I get a staking key

On the 18th of March, 2022, R2 will have the first staking key sale. Only the Green (M) Keys will be sold on AtomicHub for WAX then.

Also, the first 500 buyers will receive a pack of MONGOS: an all-new, Masters-of- the-Universe-Inspired mini-collection drawn by Rory McQueen.

There are 5 cards in each MONGOS pack, and they will all be stakeable (we have not yet decided the exact ranking, but we want to put it pretty high up).

R2 has no immediate plans of ever selling the other keys for WAX, but this could change if it is really necessary. The other (Yellow, Blue & Red) keys will be later be available for purchase with RTWO tokens in the shop, which will be available in Phase 2.

The reason why we are not selling all the keys ourselves right now is because we would like to give our early supporters an opportunity to start staking now, accumulate their RTWO wealth, and by the time phase two comes around, they can scoop up the new keys in the shop to either upgrade their own account, or to sell to the newcomers.

If you are reading this article, then you are one of the lucky people who has the opportunity to be an early adopter and take advantage of a new NFT utility platform before everyone else! We expect this platform to grow as we roll out more features, and that as more staking pools are created there will be need for more keys on the market.

Why have keys at all?

Of course we would love to make staking free to use for everyone without needing a key, but we had to come to terms with the financial costs of developing and maintaining this platform. The keys help us cover these costs and regulate the system a bit.

We do realise that this could be the one friction point that tips a potential new user away from trying the system. That is why we made an allowance to stake three NFTs, just to test it out, for free.

How to use the keys?

To use the key, you will simply need to log on to the site, connect your wallet and navigate to the keys management page. There, you will be able to activate any of the keys in your wallet. You cannot activate more than one key, unfortunately, so chose the key that best suits your staking needs.

When the time comes to upgrade (swap your current key for a bigger one), you will be able to simply activate a bigger Key, and it will automatically replace your current key, and all your staked NFTs will remain intact.

However, if you want to downgrade your key (swap it for a smaller one), or remove it completely, you might first have to unstake some NFTs.

How much staking power does a NFT have?

Check out this overview of all the rankings per variant.