Staked S1 and S2 Citizens yield $BYTES, an ERC-20 token. The Bytes 2.0 staking mechanism went live on June 15th, 2023 and replaced legacy Bytes. You can view, access and manage your staking rewards on the official Neo Tokyo website, under the /profile section.
Bytes 2.0 Yield
Both S1 and S2 Citizens which are uploaded and staked produce $BYTES. Holders can choose between 5 different hard-lock staking periods: 1 month, 3 months, 6 months, 12 months and 24 months. Once the NFT is staked, it cannot be unstaked for the duration of the time frame selected. The same goes for Vault NFTs and $BYTES themselves. However, $BYTES yield can be claimed as often as you’d like. It is not blocked by the staking period.
There are two separate emission streams: S1 Citizen yield and S2 Outer Citizen yield.
Note: This yield breakdown is a simplification. The actual mechanism in place is quite technical and complex. If you want to dive deeper into the details, feel free to read the full tokenomics breakdown here. https://docs.google.com/document/d/1XJjFP350JSSEhdbiLUp3A9fKPIDvIbZEM38KLF4p5Ww/edit#heading=h.mf3gpaejdb6v
S1 Citizen Yield
The amount of daily yield for S1 citizens is a bit more complex than for S2’s and is determined by the following factors:
- Identity Multiplier — one of the components that goes into assembling an S1 Citizen NFT is the Identity. Each identity has a “Credit Yield” trait that ranges from 1 to 3.
- Vault Multiplier — the multiplication factor of the staked vault.
- Overall Participation — the amount of Citizens participating in the staking pool.
- Staking Duration — the duration of the staking period impacts the yield by multiplying it the amounts below:
| S1 Staking Period | Staking Boost |
|---|---|
| 1 Month | No boost |
| 3 Months | 1.25x |
| 6 Months | 1.5x |
| 12 Months | 2x |
| 24 Months | 3x |
- The amount of $BYTES staked — S1 citizens also have an option to hard-lock from 0 up to 2000 $BYTES into staking. The boost they receive goes up in increments of 1 for each 200 $BYTES added.
S2 Citizen Yield
For S2 Citizens, the NFT’s rarity has no effect on the amount of bytes they produce, even though their “allocation” trait is sometimes mistaken for a parameter that determines yield. S2 citizens must stake 200 bytes in order to start accumulating.
How Many $BYTES Has a Citizen Accumulated?
To see the amount of accumulated $BYTES a Citizen can claim, you can either:
- Login to https://neotokyo.codes/profile with the wallet that Citizens were staked with.
Or
- Enter the wallet address containing the Citizen at https://bytestobytes.com/
Or
- Navigate to the $BYTES contract (https://etherscan.io/address/0x67e1ecfa9232e27eaf3133b968a33a9a0dca9e16#readContract). In the Read Contract tab,
20. getPendingPoolReward, enter:- Enter
0for S1 Citizen or1for S2 Outer Citizen in the_assetType (uint8)field. - Enter the wallet address containing the staked Citizen and click Query.
- Tap the first line of numbers to appear. Scroll down to the 7th line Ether (1) to interpret the balance of the rewards. Note: Totals for staked S1 and S2 citizens must be manually combined to determine the total amount of unclaimed rewards.
- Enter
Claim Bytes
You can claim your staking rewards in Bytes on the official Neo Tokyo website, under the /profile section.
Bytes History
Initially $BYTES were distributed automatically when an S1 citizen NFT was assembled. Staking was not needed. The amount of $BYTES a citizen produced was based solely on the combination of their Vault and ID rarity, with yields ranging from 1 to 15. For more information, see the Legacy Bytes article.
Can I still claim my BYTES 1.0 Yield?
No, claiming was disabled forever on Wednesday, August 10th.
Can I exchange my Bytes 1.0 to Bytes 2.0?
If you still hold legacy Bytes, you can exchange them for Bytes 2.0. See the Migration article for details.
Bytes Use Cases
Bytes are the native currency of the Neo Tokyo ecosystem and have many different utilities.
Here are some of them:
- Bytes are used to mint new NFTs. Some of the collections you can mint are Neo Tokyo Bought Identities (NEOTBI), Neo Tokyo Part 4 Land Deeds (NTLD) and Neo Tokyo Part 3 Item Caches (NTITEM).
- Gender Swap
- Editing your upload message
- Tipping system (in Neo Tokyo’s Discord server)
- Integration into other projects and communities
$BYTE Value on Cryptocurrency Exchanges
DEXTools: https://www.dextools.io/app/en/ether/pair-explorer/0xfeb09c7e130a4b87b27ebd648ec485657b688b34
Contract Address
BYTES (BYTES): https://etherscan.io/address/0xa19f5264f7d7be11c451c093d8f92592820bea86