Jump NFT Staking
NFT staking refers to locking up non-fungible tokens (NFTs) on a platform or protocol in exchange for staking rewards and other benefits
The Jump NFT Staking platform provides staking-as-a-service infrastructure for NFT collections to easily setup fungible token rewards for their holders. Approved NFT collections will also benefit from JUMP token rewards. Web3 projects can leverage the Jump NFT Staking Platform to facilitate next generation token vesting solutions.
Traditionally it was the responsibility of the team to develop their own NFT staking protocol. Recently however, enterprising DeFi platforms have started hosting NFT staking-as-a-service. This infrastructure saves NFT project teams time and resources which can be focused towards improving their project.
NFT technology improves the token vesting process for token issuers and recipients. Platforms offering NFT Staking-as-a-Service make this more accessible to project teams. The use of NFT technology to vest fungible tokens will become a primary use case for NFTs in DeFi.
Traditional vesting procedures distribute tokens to set group of users over a defined period of time. This causes locked tokens to remain unproductive inside the vesting contract until they are slowly distributed to recipients. However, vesting tokens via NFT staking unlocks the value of locked tokens and transfers it to the NFTs, which are liquid and easily tradable.
Rewards from NFT staking are claimed as locked JUMP and vested to users linearly. This helps to balance the high emissions rates and ensure longterm sustainability of JUMP token. Head over to Locked JUMP for more information on vested JUMP rewards from NFT staking.