What is staking?
NFT staking refers to the process where users “stake” or lock up their Non-Fungible Tokens (NFTs) in a specific platform or network. By staking their NFTs, users can earn rewards, such as interest or other benefits, in return for helping to maintain the security and validity of the network. It is similar to the concept of staking in blockchain technology, where an individual holds onto a certain amount of cryptocurrency in a wallet to support the network’s security and earn rewards.
In short, staking NFTs is a way for individuals to support the NFT ecosystem while potentially earning rewards and benefits.
Soft staking and Hard staking
Hard Staking: user stakes the NFT, it leaves their wallet and is held in the StakingVault. The user earns tokens in real time, which can be claimed at any time by paying a small gas fee. There is no lock up required to earn hard staking rewards (the user can unstake at anytime).
Soft Staking: user stakes the NFT, it does not leave their wallet. There is a small gas fee required in order to soft stake. If the user sells the NFT while it has unclaimed rewards, those rewards can be claimed by the buyer (unclaimed rewards are attached to the NFT and transfer with the NFT). Soft staking rewards are earned in real time, as with hard staking, and can be claimed at any time.
