MCRT (MagicCraft) is the lifeblood of our ecosystem. It is a utility token which drives all aspects of the rewards, staking and economic backbone of the MagicCraft gaming metaverse.
The key fundamental utilities of the token are as follows:
All in-game rewards are provided in $MCRT which include:
• Tournament prize pools.
• Individual battle wins - currently for the MVP (most valuable player) and other top two warriors in each battle. The more battles won, the more $MCRT earned in wallets of the players.
• Reward for streamers: $MCRT may be used as the platform currency to reward streamers when they stream games.
• Predicting match outcomes: $MCRT can be used as the platform currency for predicting outcomes of games in the streaming system.
$MCRT also forms the backbone of MagicCraft’s in-game economy. This includes:
• Tournament buy-in fees where relevant
• Purchases of NFT Characters inside our Marketplace
• Purchases of in-game power-ups or NFT accessories to augment the in-game characters
$MCRT is also used to buy and sell all NFTs within our own Marketplace, which further improves the utility and daily volumes of our native utility token.
We also offer the possibility to stake $MCRT in return for monthly rewards. All $MCRT holders have the possibility to enter their tokens into our staking protocols, and choose between earning rewards either in $MCRT or in the form of NFTs.
Holders may choose a period of time for staking ranging between 30 days and 5 years. Every period longer than 30 days unlocks an increase of the staking bonus, ranging incrementally with the chosen length of the staking period from 20% to 500%.
Holders will receive their APR + this staking bonus. The APR is dynamic and subject to change depending on the total number of staked tokens, however you can also make a real time calculation using our ROI calculator tool on our website.
The bonus is calculated from the number of tokens received as a reward.
For example, if 10,000 $MCRT were sent to our staking pools and 4800 tokens were sent as APR rewards during this period - the 90% bonus would mean an additional 4320 $MCRT tokens will be credited at the end of the staking period.
There is no minimum amount that can be staked, but the minimum and maximum times are 30 days and 5 years respectively.
Please note that once you choose a period, your MCRT will be locked, and you will not be able to unstake until the end of your period.
Unstaking can only take place 24 hours after the end of your chosen period.
If your chosen period has ended, you may always restake for another period of time.
If your period ends, but tokens are not immediately claimed, they remain in our staking pool until they are claimed, but no further % bonus is earnt until the tokens are restaked.
The bonus period is subject to change to either incentivize holders to stake for longer durations or to balance the reward ratio as our project matures.
APR = rewardRate * 365 * 24 * 3600 / totalTokensStaked * 100%
rewardRate = rewards are generated by second.
totalTokensStaked = tokens staked for $MCRT reward options only. It doesn’t include $MCRT tokens for NFT point rewards.
TVL = totalTokensStaked + pTotalTokensStaked pTotalTokensStaked is $MCRT tokens staked for NFT point rewards
NFT Staking Rewards
As with staking $MCRT for $MCRT rewards, Users may choose a period of time they want their tokens to be staked, again ranging from from 180 days to 5 years with incrementally existing rewards.
Each period includes a certain type of in-game NFT as a reward, with a minimum of $MCRT to be staked in order to redeem this reward.
Users accumulate NFT points during their staking period. These points can be exchanged for NFTs after the staking period is over.
NFT points are 1:1 matched with NFTs either launched or planned to launch as our game universe develops.
NFT characters available as staking rewards are part of our Genesis Collection and the available amount is limited.