Farming NFMs On NFTrade
Nitro Network is very proud to announce that we have partnered with NFTrade to allow users to stake their NCash and earn rewards in the form of Nitro Bot NFMs. Below is a step-by-step guide to quickly and easily get started!
Use this link to navigate to Nitro Network’s webpage on NFTrade, then follow the directions below.
Step 1) Connect your wallet
After navigating to Nitro Network’s farm page on NFTrade, the first thing to do is connect your crypto wallet to NFTrade by clicking the “Connect Account” button — please be sure to have your wallet set to the Avalanche network.
Step 2) Stake your NCash
In the main dashboard of NFTrade, you will see all the information relating to Nitro Network’s farm account, including the number of tokens you have staked. At the bottom of the dashboard, you will see a blue “Stake” button — click this button to stake your NCash and begin farming for NFMs.
After clicking stake, choose the amount of NCash you want to stake, approve NFTrade’s terms and conditions, and press “Continue.” Finally, you will be prompted to sign a wallet transaction, transferring your NCash to the staking contract. You will have to pay a network transaction fee to initiate this process, which can vary depending on the network’s traffic, but once the transaction is confirmed, your staking and earning has begun.
Step 3 — Track your rewards
Once you begin staking, you will start earning synthetic, non-transferable tokens (xncash) that you can use to claim NFM farming rewards. These xncash synthetic tokens are only used to earn NFMs within the NFTrade farm and can only be acquired by staking NCash. Your xncash rewards will update on the dashboard every block, showing you precisely when you will have enough tokens accrued to claim a new NFM from the farm.
An example of how rewards are tracked within the NFT farm.
Step 4 — Claiming your reward tokens
Upon accruing enough xncash to claim your NFM of choice, you first must claim the xncash from the farming contract to your crypto wallet. To do so, click the blue “Claim” button. This will prompt you to sign another transaction from your crypto wallet, transferring the tokens from the farm to your wallet’s custody.
Step 5 — Claiming your NFM reward
Once your xncash is claimed to your crypto wallet, you can now claim your NFM. The price of the NFM will be listed in xncash and NCASH, so once you have enough tokens claimed just click the blue “Buy Now” button under the NFM you’d like to claim. Again, this will prompt a wallet signature, transferring the earned xncash and required NCash to the contract address in return for ownership of the NFM.
Congratulations, you are now the owner of a new Nitro Bot NFM, all while maintaining ownership of your original NCash tokens! You can choose to unstake your NCash provided the token lock period is over, or you may keep the NCash staked to continue earning more synthetic xncash to claim additional NFMs.
About Nitro Network
Nitro Network is building the largest decentralized private communication network powered by IoT combined with LoRaWAN and 3G/4G/5G. This hyperconnected world will enable unlimited use cases in our everyday life. Participants of Nitro’s decentralized PCN are part of an inclusive ecosystem that they own, operate and earn from. Nitro’s PCN will be a game-changer and has its proprietary token, NCash, at its core. On Nitro Network, everybody wins!
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Disclaimer: This is not investment advice. Please do your own research before investing in any avenue. The information contained in this post is for informational purposes only. You should take independent advice from a professional or independently research and verify any information that you find in this post and wish to rely on, for the purpose of making any decision. Through this post, you may be able to link to other websites which are not under the control of Nitro Network. We have no control over the nature, content, and activity on those sites. The inclusion of any links does not imply a recommendation or endorsement of the other website, its products, or views.