LandWorks protocol is a two-sided market in which on the one side there are the landowners (lenders) and on the other renters. In order to provide sufficient liquidity into the protocol, an incentive program is developed for farming $ENTR tokens through LandWorks NFTs.
Once a property has been listed in LandWorks, lenders can stake the LandWorks NFT for an additional yield. See Staking Guide.
The staking contract is based on Synthetix's StakingRewards contract and has a configured amount of ENTR tokens distributed to all depositors based on their "weight".
The weight is calculated with the following formula:
- LandWorks NFT representing a single
weight = 1
- LandWorks NFT representing
weight = nwhere
nis the number of
LAND(s) contained in the
Staking rewards are accumulated per second and can be claimed at any time.
Once a user stakes his LandWorks NFT, he transfers it to the LandWorks staking contract. In order for the LandWorks protocol to continue functioning as intended and for the user to be able to update lending conditions or collect rent, he is being set as a
Consumerat the time of the staking, thus users are able to continue operating their NFTs even while the staking contract is the owner of the LandWorks NFT.
A user that has deposited, can withdraw his staked NFT any time he wants and the $ENTR rewards will be claimed as well.
The contract has an
owner, who has the following privileged actions:
- Transfer the ownership
- Renounce the ownership
- Modify the rewards duration once a period has finished
- Modify the rewards rate
- Pause/unpause the contract, thereby enabling/disabling the staking functionality.