Cargo Holds
CargoHold Breakdown
This page provides a comprehensive breakdown of the CargoHold mechanics and what benefits you receive when you create a CargoHold.
Maximum CargoHold NFT Cap
With a maximum collection cap of 150,000, we are the largest NFT collection on the Cronos Chain and one of the largest NFT collections in the world. Our gamification features, such as Hijacking, make the collection deflationary, which means that the total number of CargoHold NFTs in circulation will decrease over time. This can provide significant benefits for collectors, such as increased scarcity and value for their holdings.
Audit & KYC
- We have completed an audit of our smart contracts as well as KYC verification with Certik.
- To learn more about EIP-2535 Diamond Standard Contracts, please refer to this article!
Claiming
You can claim your $CARGO tokens directly to your wallet using our dApp every 5 days (120 hours) for the minimum claim fee of 10%. If you choose to claim your tokens more often you will have the ability to claim every 24 hours for a claim fee of 20%. This fee reduces 2% every 24 hours the tokens are left as unclaimed rewards until the minimum of 10% is reached.
| Hours Since Last Claim | Base Claim Tax % |
|---|---|
| 0 to 24 | 20% |
| 24 to 48 | 18% |
| 48 to 72 | 16% |
| 72 to 96 | 14% |
| 96 to 120 | 12% |
| 120+ | 10% |
Reducing Claim Tax
- All Nodey's will give a discount on claiming your CargoHold rewards. If you hold more than one Nodey, the highest rarity will be applied. Nodey's do not stack. The discount percentage is as follows:
Type Claim Rewards Discount Minimum Tax % Maximum Tax % Obsidian 5% 5% 15% Gold 3% 7% 17% Silver 2% 8% 18% Bronze 1% 9% 19% None 0% 10% 20%
Where does the claim tax go?
- 70% go back into the Rewards Vault
- 30% used to purchase $CROS.
- 100% of the received $CROS tokens are automatically burned
CargoHold Pool (1,000,000 Supply)
You will have the ability to lock your CargoHold NFTs in the CargoHold Pool and earn $CARGO rewards by holding AND 'locking' them. The 1,000,000 $CARGO will be distributed over 360 days proportionally to CargoHold Holders who stake starting the day the update comes out.
NOTE: If you stake 180 days after the update is released, you'll only receive rewards and lock your CargoHolds for the remaining days of the 180 that the pool is live.
Staking Fee for CargoHolds:
- Base Fee: 50 $CRO per CargoHold
- If you own a Nodey, this fee can be reduced based on the tier:
- Obsidian: 5 $CRO (90% Reduction)
- Gold: 37.5 $CRO (25% Reduction)
- Silver: 40 $CRO (20% Reduction)
- Bronze: 42.5 $CRO (15% Reduction)
- If you own a Nodey, this fee can be reduced based on the tier:
Note: The reduction buff IS cumulative for the wallet. It is possible for the entry fee to be reduced by 90% total if you own multiple Nodey NFTs.
CargoHold Names and Descriptions
When creating CargoHolds, you can purchase up to the max CargoHold cap of 100 in one transaction or in any fractional number of transactions. This eliminates having to pay multiple gas fees if you are planning to make more than 1 CargoHold. By handling CargoHold creation this way, we wanted to make the process of naming CargoHolds and setting their descriptions simple for users.
On CargoHold creation, it will not have a name or a description. You will be able to change the name or the description of your CargoHold as many times as you'd like via our dApp. The CargoHold does not have to be unlocked in order to make these changes.
Limitations:
- CargoHold names are limited to 16 characters.
- CargoHold descriptions are limited to 80 characters.
- You'll have to pay the network's gas fees in order to submit name or description changes.
Active Reward Mechanism (ARM)
Our Active Reward Mechanism is our unique approach for solving scalability issues that can be seen in the DeFi space.
'ARM' will automatically determine the rewards per CargoHold every day utilizing factors such as reward pool size, new cargohold creation, and total cargoholds created. In addition, our team has implemented functions to reassess the reward pool at any time to ensure the sustainability of the project.
- P: Amount of $CARGO rewards in the Rewards Vault
- N: Number of Total Active CargoHolds
- X: Constant used to scale R, X is currently 1
- R: Payout per CargoHold
- K: Calculated once per day to determine R
- Z: Average days in month (30)
Rewards Formula:
