We have done something revolutionary with FITT Staking. And we’re here to help you understand all about it and unravel the mystery behind Mystery Boxes…
What Is FITT Staking?
We have introduced ‘FITT Staking’ to reward the long term holders of FITT token, who in our view are the true believers of our project. Wouldn’t it be awesome to put your FITT tokens to work for you and earn some amazing rewards, rather than keeping them idle in your wallet!
How Does It Work?
- For every 100 FITT you stake, you get 1 FITTix — every 24 hours. For example, if you stake 1000 FITT, you get 10 FITTix on Day 1, another 10 FITTix on Day 2 and so on.
- You can also stake multiple times and earn more FITTix, in order to increase your chances of getting the Mystery Box.
- Every Monday at 00:30 UTC, we take a snapshot of your FITTix count and announce the winners of Mystery Boxes.
- Mystery Box distribution will take place at 09:00 UTC, every Monday.
- These winners are selected on the basis of the number of FITTix they hold, along with a randomiser factor. The higher the FITTix count, the higher would be your chances of winning. But, since there is a randomiser factor too, even the users with fewer FITTix could sometimes win a Mystery Box.
- If you win a Mystery Box, the count of your FITTix will be reset to ‘0’ to increase the chances of winning for other stakers. The FITTix distribution to you will start again from the time you receive the Mystery Box.
What’s Inside the Mystery Boxes?
On unlocking Mystery Boxes, you can win one of our in-game NFTs given below:
- OG Basics Sneaker — These are our genesis Sneaker NFTs which give you access to our app. You can burn calories & earn $FITT with these bad boys.
- MG Glides Sneaker — These are our 2nd generation Sneakers. You can earn $FITT with MG Glides too.
- Crafting Anvils — With these, you’ll soon be able to ‘Craft’ your own Sneaker NFTs.
If you already own one of Sneaker NFT, then the probability of getting a ‘Crafting Anvil’ would be higher, otherwise the probability of getting the Sneaker NFT would be higher.
There are more surprises which we’ll keep adding to the Mystery Boxes over the time!
Can I Unstake My FITT?
Yes! You can unstake FITT whenever you want. But, but, but… Remember, there’s a cooldown period of 15 days when you stake. If you unstake before the cooldown period ends, you would receive a penalty of 15% on the unstaked FITT.
Additionally, the FITTix earned on the unstaked amount will be lost proportionally, which would reduce your probability of winning the much coveted Mystery Box.
If you have staked multiple times, then the deduction of FITTix happens from your last staked FITT.
Here is an example:
Let’s assume you stake 1000 FITT on day 1 and then stake 500 FITT more on day 10.
You choose to stake them for 30 days by which time you would have earned a total of 400 FITTix (300 FITTix from 1000 FITT and 100 FITTix from 500 FITT).
Now, let’s say, you decide to unstake 500 FITT on day 30, then you will lose only 100 FITTix which was earned on your 500 FITT.
I don’t have FITT, where can I get it?
If you already own our Sneaker NFT and have been working out with the Fitmint app, then you are already earning FITT tokens everyday. However, if that’s not the case, you can buy FITT tokens from the Balancer Dex where we have listed it on.
Note: If you can’t find the FITT token, you have to search the token by its contract address (0x656bf6767fa8863ac0dd0b7d2a26602b838a2e70).
That’s it! That’s all there’s to know about FITT Staking & Mystery Boxes!