Exciting news for Seeker owners! Staking is now live on the Seeker Network, offering an opportunity to be rewarded SYLO tokens. Exclusively available to Seeker owners, your Seeker is working for you and giving you the ability to stake and be rewarded with SYLO tokens on the Seeker Network. Not only are you rewarded for staking, but you also contribute to the strength of the network, an integral component of the open metaverse. Here’s a quick guide to get you started on your staking journey:
Ensure You Have a Seeker
Before diving into staking, ensure that your Seeker has been updated to OS 2.0 and is connected to The Root Network. Additionally, you'll need a supply of SYLO tokens in your FuturePass, on The Root Network to initiate the staking process.
Initiate Staking
Head over to Seekers.xyz and log in using your FuturePass. Once you’re in, select the Seeker to put to work and navigate to the Network section, conveniently located at the upper centre of the screen. Here, you'll gain access to your staking portfolio and can explore various nodes available for staking.
Stake Your SYLO tokens
Make sure your SYLO token is ready to stake by having it on The Root Network and available in your FuturePass. The next step will be selecting a node from the available options and allocating your SYLO tokens for staking. By doing so, you kickstart the process to receive rewards. Keep an eye on your staking portfolio to track progress and rewards.
The Reward Cycle
You won’t have to wait long before seeing your first SYLO rewards as the rewards cycle is 7 days. The first rewards cycle will start on 11 March 2024 NZT, giving you a few days to complete your staking. Once you’ve staked SYLO you can withdraw at anytime, but the tokens will be locked for 7 days.
Closed Beta
The Seeker Network and Seeker Nodes have been launched as a closed beta while we test and refine a few things. The available Seeker Nodes will be run by Futureverse at first, partners will be invited to setup their own while we’re in closed beta.
WenNodes you ask?
We wanted to prioritise staking as it’s a lot easier for you to get up and running and to start receiving rewards.
The Seeker Network and Seeker Nodes have been launched as a closed beta and we anticipate there will be frequent updates required for Seeker Nodes. By only having Futureverse and partner nodes operational, there is a reduced likelihood that Seekers will miss out on rewards.
Once we move to an open beta, we expect there to be less need for nodes to be updated and therefore less likely that a node will go offline for not being updated.
More coming for Seekers
Staking your Seeker not only means you’re rewarded with SYLO but also plays a vital role in fortifying the Seeker Network, which serves as the backbone for numerous SYLO services essential for the open metaverse. Don't miss out on this opportunity to have your Seeker work for you while contributing to the growth of the decentralized ecosystem.
Stay tuned for more updates and enhancements as we continue to evolve the Seeker Network and empower users across the open metaverse.
Happy staking!
P.S. If you don’t have a Seeker yet, head over to MARK or OpenSea and grab one.