Intro
Uploaded Citizens Staked S1 and S2 Citizens yield $BYTES, an ERC-20 token. The Bytes 2.0 staking mechanism went live on June 15th, 2023. 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 which are fully 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 timeframe that was selected. 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: 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.
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 Overall Participation 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.
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 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. Describe other stuff, example: Can I still claim my BYTES 1.0 Yield? No, claiming was disabled forever on Wednesday, August 10th. etc https://docs.google.com/document/d/1XJjFP350JSSEhdbiLUp3A9fKPIDvIbZEM38KLF4p5Ww/edit 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 (ticker), Are there S2 collections as well? Gender Swap Message Change Tipping System (in Neo Tokyo’s Discord server) Integration Into Other Projects And Communities