Weekly Developer Update #28

The Art of Staking

Forget the grill sizzle — this week, we’re turning up the heat on something even more exciting: Staking.

As we momentarily move from the usual Cosmicrafts features, it’s time to delve into the technological marvels powering the Internet Computer. Understanding the mechanics behind it is crucial, and for those new to staking or wondering why it’s a cornerstone of Web3, fear not.

Our mission is to demystify these concepts, making them as accessible as the cosmos we explore.

Welcome, commanders, to your latest briefing on the intersection of Web3 and gaming. Without further ado, let’s launch into this cosmic expedition.

What is staking?

Staking is a way to earn rewards with something you own, like earning interest in a savings account.

Let’s simplify this with an easy-to-understand example involving apples:

Apples example

Imagine you have 10 apples. You wouldn’t eat them all in one go, right? Instead, you learn about a marketplace where you can make those apples work for you, rather than selling them outright.

• Your Apples: You start with 10 apples.
• Marketplace: You discover a marketplace that lets you use your apples in a productive way (Staking).
• Staking Agreement: You agree to let the marketplace use your apples for a while.
• Terms and Conditions: The agreement specifies you’ll get your apples back plus some extra.
• Reward: After some time, you receive your original apples back, along with additional apples as a reward.

By letting your apples “work” for you in the marketplace, you end up with more apples than you started.

This is like staking, where holding onto your assets and not selling them immediately can lead to earning extra rewards. It’s a smart way to grow what you have by being patient.

How Staking works on the Internet Computer?

Understanding the Basics

Imagine the Internet Computer as a digital city with its own rules and regulations, where the NNS and SNS serve as the city council and neighborhood councils, respectively.

What are NNS and SNS?

• NNS (Network Nervous System): Think of the NNS as the city council of this digital city. It makes big decisions like how the city should grow, where to build new parks (or in our case, new services and features), and how to keep the city safe and running smoothly.
• SNS (Subnet Nervous System): The SNS is like neighborhood councils. Each neighborhood has specific needs and projects, and the SNS helps manage those at a more local level, making decisions that best suit their area.

Join the Council

Imagine you’ve recently moved to this vibrant, bustling city — a place known for its innovative governance system. In this city, you have the opportunity to directly influence its development, safety, and community projects.

Here’s how you can get involved: This program is like a savings account, but much more interactive and impactful.

Investing in the City’s Future: You find out that by investing some of your savings into the city’s innovative governance program, you can help decide its future.

Buying your Seat Tickets: You decide to buy what’s called a “Neuron.” Think of a Neuron as a special type of Seat Ticket that you can get your money back plus interests after the season.

Voting on Proposals: With your neuron (Seat Ticket), you get to vote on various proposals that affect the city. Your vote helps steer the city in the direction you believe is best.

Passive Income: As a thank you for your participation and for locking your savings in this neuron, the city rewards you. These rewards come from the city’s growth and improvements — as well as earning interest on your savings.

Long-term Benefits: The longer you keep your investment in the neuron, and the more actively you participate in voting, the more rewards you accumulate.

It’s a way to ensure that those who are genuinely invested in the city’s welfare are recognized and rewarded.

Now that you’re familiar with the basics of staking

As we prepare for the launch of the Cosmicrafts DAO, it’s worth considering what staking means in this setting. Think of it as joining a community council, but for a video game.

Your stake, or investment, is about buying into a shared vision for the future of Cosmicrafts.

Why Cosmicrafts?

Cosmicrafts has been in the works since 2016, we’re building a space game with cutting-edge tech that has navigated its fair share of challenges since its inception, adapting its technology and strategy along the way.

The Role of Stakers in Cosmicrafts

Staking in Cosmicrafts isn’t just about chasing the next big wave in blockchain gaming; it’s about having a say in the development and future directions of a game you care about.

• Direct Influence: Stakers have a say in key development decisions, influencing the direction and features of the game.
• Supporting Innovation: Your stake contributes to the funding of new technologies and gameplay improvements, driving the game’s evolution.
• Earning Rewards: Stakers receive rewards based on the game’s success and their participation in the ecosystem, aligning incentives between the developers and the community.
• Long-Term Growth: By investing in Cosmicrafts, stakers support the game’s longevity and sustainability, helping ensure a stable and progressive future.

A Call to Adventure

Venturing into blockchain gaming is uncharted territory. High risk, potential for high reward. Do you want to profit from gaming’s future?

Embarking on a New Frontier

As we conclude this week’s developer update, we’ve journeyed from the foundational concepts of Neuron Staking on the Internet Computer to the pivotal role you can play within Cosmicrafts.

The opportunity before us is huge and filled with potential. As we stand on the threshold of the Cosmicrafts DAO launch, we invite you to join us in this grand adventure. Your stake in Cosmicrafts goes beyond financial investment; it’s a vote of confidence in a sustainable long term project.

Join Us in Shaping the Cosmos

The journey ahead is as exciting as it is uncertain, but one thing remains clear: the future of Cosmicrafts — and indeed, of blockchain gaming — is in our hands.

Together, we can build something truly groundbreaking, a franchise driven by innovation, and shared vision.

Thank you for being part of this journey. Here’s to the many adventures that lie ahead, to the challenges we’ll overcome, and to the victories we’ll share in the vast expanse of Cosmicrafts.

The next chapter is yours to write — make it one for the ages.

Stay Invested, Stay Cosmic.