NFTs are a growing field within the Blockchain space, so has the real estate within the Metaverse. iOWN`s mission is to innovate and establish NFTs that represent actual physical real estate. As we continue to develop new ideas and features, we are constantly listening to the feedback from our community. Staking is a feature that has been requested a great deal and even more so in the recent months and weeks.
How does iOWN Staking Work?
iOWN has now introduced its staking program which creates yet another utility for iOWN tokens. You are now able to stake iOWN tokens in the iOWN Genesis Pool. The staking pool consists of 8 physical Hotel Luxury Apartments located in Dubai. The total area of the 8 apartments is 4,110 square feet with a total portfolio value of $2,000,000 USD. iOWN will fractionalize the physical square footage into 4,110 NFTs, which will be rewarded to token stakers. Each NFT represents 1 sqft which is valued at $487, the staking term is fixed to 182 days, upon completion of the staking term, the stakers will receive their total staked amount back and their NFTs. Your NFT will reward you with passive income as long as you own it! hence the name “iOWN”.
Steps for Staking
Step 1: Download the iOWN Wallet and Create an Account.
Scan the QR Code to Download Now!
Step 2: Top up your iOWN Token balance with a minimum of 50,000 IOWN in the iOWN wallet app, please ensure you have 0.003 BNB which is the required gas fee for staking.
Click on your iOWN Balance, then click on “Stake” where you may view information on the staking program. Click “Next” to move on to the staking confirmation page.
Step 3: On the staking page, you can select a multiple of 50,000 i OWN tokens that you would like to stake. Users who stake 50,000 iOWN will be rewarded with 1 NFT after 6 months and will have the staked amount released back to their wallet. Users who stake 200,000 tokens will be rewarded with 4 NFTs and so on.
Step 4: After selecting the amount you would like to stake, you will need to read and approve the “Terms and Conditions” of the program by checking the box, then click “Next” followed by clicking the “Send Transaction” button.
Step 5: You have now arrived at the “Staking Completed” page where it confirms the amount staked, duration, and number of total NFTs to be rewarded during the staking process.
The following pages show you a live dashboard with an overview of your progress along with options to stake more, genesis pool statistics, and an option to unstake your tokens.
To unstake your tokens from the genesis pool, click on ‘Unstake’ on your dashboard. This will take you to the ‘Unstake’ page. Since partial unstaking is unavailable at the moment, you need to unstake the complete amount that is locked.
Please note that a penalty fee of 25% of the staked amount will be charged and deducted upon unstaking.
Kindly Watch the “Staking Guide Video” to assist you and visit the “iOWN Staking Page“.
Conclusion
As a leader in the real estate NFT space, we are constantly innovating and adding new features for our community. Our staking program allows users to be rewarded as token holders for locking up their token with NFT which represents 1sqft of physical apartment worth $487, each NFT then generates 5-6% of the original SQFT price returns on a per annum basis. More information may be found in the Staking FAQ’s section of our website: https://www.iowntoken.com/staking-faq/
About iOWN Token
iOWN Token is a multi-utility token that can be used within the blockchain-based equity crowdfunding platform and is accepted as a payment method at several vendors. Holders of iOWN Token gain access to iOWN platform’s marketplace giving them the opportunity to invest in real estate projects and promising businesses of tomorrow, as well as, stake their tokens for an annual return of up to 6%.