HomeCrypto newsHow to Cast & Stake Position Exchange NFTs

How to Cast & Stake Position Exchange NFTs

October 29, 2022

Position Exchange has developed a new NFT Protocol and introduced Crypto NFTs as a brand new feature. You can create NFTs that have unique features and various rarities (by depositing the POSI tokens) and then place NFTs within NFT Pools. NFT Pools to earn rewards.

Getting Prepared

NFT stakes require a bit of effort to set up.

You’ll need “NFT Cards” to use for the Pools. NFT Pools will exclusively accept NFT cards for stakes.

To acquire those NFT cards, they’ll have first to cast them in the NFT page.

It could sound intimidating however, it’s not overly difficult. Let’s walk through it step-by-step

Casting NFTs

Visit the NFT website to connect the wallet. You’ll be able view the list of accessible NFT cards.

Every NFT card is equipped with an Efficiency and a Mining efficiency. You can check the details by clicking on the card.

To be able to use Cast NFT you will require POSI in your account.

There isn’t a minimum POSI required to acquire NFT cards. You can use NFTs with one POSI. You can additionally cast NFTs using 5 POSI. Of course, the mining power is much greater when you have a POSI with 5000 and you’ll receive more cash rewards. For instance: 1. You’ll need the The POSI in order to use NFT. Then you receive the most powerful card that is the BOSS NFT. POWER = MINING EFFICIENCY OF THE CARD x POSI par value POWER= 180% x 1 = 1,8 POSI
2. You are using the 5000 POSI for casting NFT and you will get the card with the lowest power, which is that of the farmer. NFT POWER is MINING EFICIENCY OF THE Card * POSI Par number POWER= 110 percent x 5000 = 5,500 POSI It is important to note this: it is important to note that the NFT casting procedure is completely random and not influenced by the POSI casting process used in casting. The greater the POSI par value gets, the greater your power.

Cast NFTs

To cast an NFT choose what amount of POSI that you wish to use. (POSI par value) and then click “Cast NFTs”

A pop-up window will appear to remind you that when you cast NFT, your tokens will be randomly locked for 25 to 45 days! You are able to change your NFT back into tokens (Decompose) after the lock period has ended.

Click “Confirm” to proceed , and then wait for your Card to cashed!
Congratulations , you have received the NFT card. In this case, we have the PILOT NFT, which has a mining efficiency of 54,06%POWER = the MINING Efficiency multiplied by the POSI par number POWER = 50 x 154,06% = 76.28 the POSI
You can view your NFT in the table below that contains all information. As you will see in the following example two of my NFTs are placed in the pool, and two aren’t. It is possible to change your NFTs into POSI tokens (Decompose) once the lock period has ended. It is possible to proceed with the decomposition process by pressing “Approve” then clicking “Decompose”when the lock time has expired.

Be aware that you don’t have to disintegrate your NFTs if they do not want to. You can keep your NFTs as long as you want. A marketplace for selling or purchasing NFTs will become in the near future.

Staking NFTs

Position Exchange NFTs are not just for aesthetic purposes however they can be a great option to increase your POSI balance within your NFT Pools. Navigate to the Pool page and then select NFT from the NFT tab. You’ll be able to look at the pools that are available.
Click on “Stake”.
Choose the cards you wish to bet and click “Confirm”

Congratulations! You have successfully staked your NFT.

Check out the latest Total Power Staked that will be 380.400 in this example. The higher your Total Power Staked is, the more you will share in the pool’s rewards.
To harvest your reward, click the Harvest icon. Be aware that rewards can only be harvested after 12 hours.
To unstake your NFT, you just need to select “Unstake” and to withdraw all your NFT, select “Withdraw all”

Its expected that the NFT Pool rewards reset at the time of the specified period. Your NFT won’t be redeemed or withdrawn from the pool. It will stay in it.

Conclusion

The At-Place Exchange Network of Financial Transfers hold the potential to turn into an extremely profitable investment for portfolios So the number of people who invest in NFTs of Position Exchange isn’t small. We continue to keep improving our services daily in order to enhance and ensure a fantastic customer experience

The most significant benefit of NFT stakes is that it isn't necessary to sell or transfer ownership of the NFT collections. All you have to do is put all your NFT assets into a pool , and receive rewards. It's as easy as that!

To invest in NFTs, you need a crypto walletthat is compatible with the NFT of interest. The first step is to determine whether the wallet you prefer matches the blockchain where the NFT is situated. You will need to connect your account to the platform , so you can transfer your NFTs to the platform.

  1. The deposit of POSI tokens into an agreement.
  2. Earn rewards with NFT cards that have different qualities and rarities (The more powerful the quality of your NFT will be, the greater the mining power you will have)
  3. You can take the NFT cards from the NFT Pool.
  4. Earn POSI.

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