Non-custodial staking for y00ts and DeGods is now live on Polygon

y00ts and DeGods are making giant strides in the market with back-to-back integrations. The NFT community and collection recently announced joining hands with Polygon and Ethereum.

Thus, users can now enjoy non-custodial staking for both y00ts on Polygon and for DeGods on Ethereum. y00ts released an official string of tweets to inform users about the announcement. The tweets stated that non-custodial staking would impose some jurisdictions, including:

  • Users can keep the NFTs in their wallets but remain frozen by the contract.
  • NFT cannot be traded or transferred without being unfrozen or unstacked.
  • Token-gated apps and experiences will work (for example, Twitter’s hexagon pfps).
  • Users can get more accurate data through on-chain holders.
  • Users are suggested to use and for staking purposes.

Last month, y00ts has officially started migration to Polygon. y00ts also informed users about the process of accessing non-custodial staking. Users only need to unstake and restake their NFTs while spending some MATIC gas during the process. The NFT community will waive the DUST unstaking and staking fees for a week. Users will have to start paying the fees from May 4th onward.

On the other hand, DeGod has also shared a list of instructions to users. According to the NFT collection, there won’t be any meaningful changes to DeStake other than the non-custodial aspect. It only means that the staked y00ts and DeGods will remain in users’ wallets while earning them points in staking.

The process to access non-custodial staking for DeGods is identical to y00ts. Users merely need to unstake and restake their NFTs. The only difference is that this process will cost them gas fees in ETH instead of MATIC.

NFT users across the industry have welcomed the development and look forward to using it for better returns. 

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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