FAQs
1. Is NFT V1 abandoned along with MLP V1?
We refrain from abandoning anything because we believe that Multichain’s assets could potentially re-peg in the future. multiDAI remains securely held within the Treasury. However, it’s important to note that, for now, staking rewards for NFT V1 has been discontinued. In the event of Multichain’s assets re-pegging, we will reinstate multiDAI for MLP V2 staking and reintroduce staking rewards for NFT V1.
2. What can I do with the refunded multiDAI?
We cannot provide you with any financial advice. You have the option to hold it and await its re-pegging, or you can sell it for another token. The decision is yours to make.
3. How my refund multiDAI is calculated?
It’s calculated based on the power of the NFT you have chosen to burn and the total multiDAI in the Treasury that has been redeemed from MLP. The greater the power of your NFT, the more multiDAI you will receive.
E.g. Suppose you are holding 1 NFT V1 with a power of 5,000. In this scenario, you would receive 177.67 multiDAI. This calculation is derived from dividing the power of your burning NFT (5,000) by the total power of all NFT V1 (19,699,200), and then multiplying by the total amount of multiDAI in the Treasury (700,000).
4. I bought over 100 NFTs so what should I do now?
As aforementioned, you have two options. On one hand, you can mint 100 new NFTs, and burn 100 NFT V1, to receive a refund along with new benefits from the upcoming Mummy Rebirth collection.
On the other hand, you can still proceed with your NFT V1 and hope for the best from the Multichain team.
Alternatively, you can mint new Mummy Rebirth NFTs without burning your NFT V1 (but you will not receive your refund in multiDAI).
5. Is NFT V1 abandoned along with MLP V1?
We refrain from abandoning anything because we believe that Multichain’s assets could potentially re-peg in the future. multiDAI remains securely held within the Treasury. However, it’s important to note that, for now, staking rewards for NFT V1 has been discontinued. In the event of Multichain’s assets re-pegging, we will reinstate multiDAI for MLP V2 staking and reintroduce staking rewards for NFT V1.
6. What can I do with the refunded multiDAI?
We cannot provide you with any financial advice. You have the option to hold it and await its re-pegging, or you can sell it for another token. The decision is yours to make.
7. How my refund multiDAI is calculated?
It’s calculated based on the power of the NFT you have chosen to burn and the total multiDAI in the Treasury that has been redeemed from MLP. The greater the power of your NFT, the more multiDAI you will receive.
E.g. Suppose you are holding 1 NFT V1 with a power of 5,000. In this scenario, you would receive 177.67 multiDAI. This calculation is derived from dividing the power of your burning NFT (5,000) by the total power of all NFT V1 (19,699,200), and then multiplying by the total amount of multiDAI in the Treasury (700,000).
8. I bought over 100 NFTs so what should I do now?
As aforementioned, you have two options. On one hand, you can mint 100 new NFTs, and burn 100 NFT V1, to receive a refund along with new benefits from the upcoming Mummy Rebirth collection.
On the other hand, you can still proceed with your NFT V1 and hope for the best from the Multichain team.
Alternatively, you can mint new Mummy Rebirth NFTs without burning your NFT V1 (but you will not receive your refund in multiDAI).
9. I have many NFTs V1, what should I do if I want to vest bonus esMMY from minting Mummy Rebirth without reserve?
If you have previously staked MMY and esMMY, you need to transfer your NFT V1 to a new wallet, then Mint your Mummy Rebirth there.
If you have not previously stakedMMY and esMMY, you can deposit and vest directly.
10. I possess NFT V1 but I don’t want to vest bonus esMMY from minting Mummy Rebirth, just stake to earn fees
You can stake as usual, but later, vesting will require a reserve amount.
11. I don’t have any NFT V1, so do I need to follow these steps above to mint Mummy Rebirth?
Here is the instruction for users who have never held NFT v1:
If you have staked MMY and esMMY: Use a new wallet to mint to be able to vest bonus esMMY without maintaining a reserve
If you have not staked MMY and esMMY:
If you want to vest: Vest immediately without staking.
If you want to stake: After staking, vesting will necessitate a reserve.
12. Do bonus esMMY from minting Mummy Rebirth need reserve?
No, they don’t. However, in case you have staked MMY or esMMY before vesting, they’ll require a reserve amount.
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