This GameFi Project Brings Staking and NFTs to a New Level

Place/Date: - December 28th, 2021 at 9:03 pm UTC · 4 min read
Contact: Ethlas, Source: Ethlas

Ethlas is a free-to-play GameFi Metaverse that was awarded “Best NFT/GameFi project” by Polygon Foundation in December 2021. Players login with MetaMask, play different genres of games, and earn Gems when they rank on the leaderboard! Their investors are high profile executives from Coinbase, CoinMarketCap, Global Blockchain Innovative Capital, Venturra Capital, Grab and many more. They are positioned to be the aggregator of all Web 3.0 play-to-earn games for consumers & game studios, with plans for their XGEM token sale (on-going), NFT sale, governance token sale, and land sale in the next few months.

Ethlas just concluded the pre-sale of XGEMs, their in-game currency, which was 100% sold out in a few hours. If you’ve missed that, there is still a chance to participate:

  • From 28 Dec 2021, 22:00H (UTC +8): Add liquidity for XGEM<>MATIC on QuickSwap, the largest DEX on the native protocol.
  • From 29 Dec 2021, 22:00H (UTC +8): Stake your QuickSwap LP tokens on Ethlas to earn up to 702% APY.

Not only are they rewarding early supporters up to 702% APY, their innovative staking mechanism seeks to revolutionise the way we see staking and NFTs in the future.

The Innovation behind Staking on Ethlas

The most interesting feature of the staking event is their innovative staking token — SGEMs (Staked GEMs). Each SGEM is actually configured as an ERC 721 token that has the features of both a staking contract on the backend, but also a NFT on the front. In fact, it’s 3 things in 1!

Ethlas Staked GEMs combines 3 different attributes

When you stake with Ethlas, you receive a unique SGEM ERC 721 token:

  • It’s like a Treasury Bond – Since holding SGEMs gives you an APY, it is effectively dropping you daily coupons of gems.
  • It’s like a TSLA stock – Since all interests are dropped as XGEMs, you get upside exposure of a newly minted token backed by a growing Ethlas ecosystem.
  • It’s like a Crypto Punk – SGEMs will be minted as an exclusive Ethlas NFT with varying rarity tiers, so each SGEM becomes a NFT collectible that could appreciate in value with time.

But wait, here’s the kicker! Upon vesting, you can choose to claim your original LP token and all GEM rewards attached. However, should you decide to claim, the NFT will be destroyed and you will lose all value attached to the artwork. Alternatively, you can hold the NFT like a piece of Crypto Punk art, or sell it on OpenSea, together with the staking contract.

This brings staking and NFTs to a whole new level as SGEMs are charged with yield bearing properties and cements a high floor price while trading on OpenSea. Read our pro guide on XGEM sale and staking here.

XGEM Public Sale & Staking Event

Stake QuickSwap LP tokens on Ethlas to earn up to 702% APY

The XGEM pre-sale started on 26 December, 22:00H (UTC +8) and has been 100% sold out. Here’s how to still get involved:

From 28 December 22:00H onwards:

  • Swap MATIC for XGEMs on
  • Add liquidity for MATIC<>XGEMs liquidity pool on Quickswap, in turn, you would receive a QuickSwap

From 29 December 22:00H onwards:

  • Stake your QuickSwap LP token on Ethlas for 3 different periods (6/13/26 weeks) to earn as much as 702% The longer you stake, the higher the APY!
  • Each stake has a minimum of US $100 and maximum of $5000 worth of LP tokens. You would in turn receive a SGEM NFT, across 5 rarity tiers: common, rare, mythical, legendary and celestial.

Additionally, the first 50 wallets who stake more than $2000 USD worth of LP tokens will be airdropped a free Komo egg. First come first serve!

About Ethlas

Ethlas is a Free-To-Play (F2P), Play-To-Earn (P2E) metaverse built on the Polygon chain where players engage with a suite of leaderboard-based games to farm GEMs – the main currency of Ethlas. Its mission is to bridge the next billion users to crypto through casual games and enable equal opportunities and access to crypto finance for all users.

The founding team has years of experience across Google, Xbox, Airbnb, Grab, Facebook while its non-exhaustive list of backers include senior executives from CoinMarketCap, Coinbase, Grab, Global Blockchain Innovative Capital and many more

Find out more about Ethlas: Website, Discord, Telegram, Twitter, Medium, Instagram.

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