🔮Spiritual Power & Staking System
Spiritual Power V2 and Staking System
In 2022, shortly after the launch of the first season of Weirdo Ghost Gang NFTs, we released the Spiritual Power V1, which was purely calculated based on on-chain data and dynamically changed with the holding time of each Lil Ghost in the wallet. We called it “Proof of Experience” and later used the Spiritual Power as a threshold for various virtual space rewards and collaborations. As the ManesLAB ecosystem expanded, the Spiritual Power V1’s complex calculation rules and weak combinability became evident.To accompany the upcoming expansion of the Weirdo Ghost Gang world, we present to you: Spiritual Power V2 and the WGG Staking System. The new Spiritual Power will be displayed in a more intuitive points format, aggregating and displaying all WGG assets held in connected wallets under the MID identity, and strengthening the linkage with other products within the ManesLAB ecosystem. After staking Ethereum mainnet assets, holders will receive stWGG redemption vouchers on L2, which can be unstaked at any time to retrieve mainnet assets. Subsequent protocols such as lending agreements and lottery weight calculations will be based on stWGG.
Spiritual Power Calculation Rules
Spiritual Power V2 = (Initial Spiritual Power + Spiritual Power Bonus) * Magnification Factor + Staked Spiritual Power + External Spiritual Power
The initial Spiritual Power is derived from all your accumulated points from Spiritual Power V1, calculated by merging the individual Spiritual Powers as of the snapshot date 2024-05-25 12:00 UTC.
Spiritual Power Bonus is awarded to participants in the ManesLAB ecosystem. Holding the following NFTs on the snapshot date 2024-05-XX UTC XX:XX can earn bonus:
To eliminate the visual and accuracy impact of decimal numbers, the spiritual power points in the new system will be displayed 100 times larger. In the first month of the new system, users can earn up to a 150x boosted multiplier by staking at least one Weirdo Ghost Gang Lil Ghost, which will linearly decrease to 100x after 30 days.
Spiritual Power has been deprecated after the snapshot, and subsequent growth will be determined by the number of stWGG solely. Unstaked WGG tokens will not be included in the calculation as liquid assets. Calculation Rules: 1. Each stWGG produces 100 points of spiritual power daily.
2. Loyalty Coefficient (LC)
3. If the staked amount today >= the previous day, LC = previous day LC + 0.02, with a maximum of 2.
4. If the staked amount today < the previous day, LC returns to 1.
5. Daily growth spiritual power = (100 points of spiritual power) * LC * number of staked units
6. Total staked spiritual power = ∑daily growth spiritual power
Example: Sleepy holds 3 WGGs.
Day 1: 1 WGG is staked, with an LC of 1.02 after the first day. The daily growth spiritual power is 100 * (1 + 0.02) * 1 = 102.
Day 2: as the staked amount remains unchanged, the spiritual power is 100 * (1 + 0.04) * 1 = 104.
Day 3: 3 WGGs are staked, maintaining the daily LC growth of 0.02, resulting in a spiritual power growth of 100 * (1 + 0.06) * 3 = 318.
Day 4: Sleepy cancels the staking of 1 WGG, returning the LC to 1, with a daily growth of 100 * (1 + 0) * 2 = 200.
Staking at least one WGG also provides opportunities to gain external Spiritual Power, which refers to Spiritual Power obtained from sources other than Staked Spiritual Power, including but not limited to other products within the ManesLAB ecosystem and rewards from our ecosystem partners.
Staking System
After staking Ethereum mainnet assets on the official spiritual power page, holders will receive stWGG redemption vouchers on L2, which can be unstaked at any time to retrieve mainnet WGG assets.
Raffles (Coming soon)
As of March 20, 2024, Weirdo Ghost Gang has collaborated with over 1,000 projects, distributing over 23,000 partner whitelists to community members. During these lottery processes, we observed complicated prerequisites, verification steps, and numerous bot accounts deteriorating the participation experience. To address this, the “Raffle System” will be launched later this year, forming a trinity with the “Spiritual Power” and “Staking System,” combining spiritual power, holdings, and activity to provide community members with a more relaxed, intuitive, and fair raffle and incentive system.
In Conclusion
We have always believed that from the perspective of community incentives and project operations, a fair and transparent points system is still the most suitable solution, and within the current compliance framework, it is the most direct positive feedback method for users’ participation and contribution within the ecosystem. Therefore, in 2022, we launched the spiritual power system alongside the Weirdo Ghost Gang Lil Ghosts. As the ManesLAB ecosystem continues to expand, we decided to upgrade the spiritual power system, connecting various application scenarios online & offline, Web2 & Web3. In our vision, the new spiritual power system can comprehensively record users’ experiences within the ManesLAB ecosystem and serve as a benchmark for us and our partners in allocating incentives/rewards to ManesLAB ecosystem users.
Last updated