Condor Protocol Mainnet pre mining is open!

Welcome everybody, we are pretty exited to announce the opening of the Condor Protocol staking pool to earn CONDOR.

Condor Protocol is a permissioned blockchain built on Ethereum, with high throughput and immediate transaction finality. It aims to improve our products use cases, providing a platform in which we can leverage traditional financial services.

Check out our previous publication ↗ to know more about how to connect to the Condor network, how to deploy your contracts (support for Solidity and Remix), and the use case presentation.

Spore & Condor Headquarters Are BSC

All tokens and contracts only works with the Binance Smart Chain network, meaning that before you can interact with the dapp or any Spore/Condor contract, you will need to setup your wallet provider with the Binance Smart Chain network information ↗.

How To Add Tokens To Your Wallet

Our tokens are fully compatible with the ERC20 & ERC1155 standards, meaning that you can add them as you usually do with your wallet client.

How to add a token to your Metamask wallet ↗

Condor Protocol Infrastructure Proposal

Condor Protocol meant to bridge crypto assets between different networks, that’s why Condor’s network main currency “CONDOR” have a BEP20 tokenized or “wrapped” representation of itself outside the Condor network as “wCONDOR”, to be able to port the currency among the different available chains.

The Condor Token pre mining period will generate BEP20 Condor wrapped tokens which could be bridged to the Condor network chain as main currency to pay for transactions gas fees, or sell them in exchanges for BNB in return.

https://docs.condor.vision/

How To Stake

Condor NFT staking module allows everyone to participate in the minting process of the mainnet Condor tokens (pre mining), this will be the one and only mechanism that will create new Condor token supply.

  1. Get Condor NFT tokens ↗.
  2. Get Spore Power Tokens ↗.
  3. Approve the staking contract.
  4. Stake your Condor NFT tokens & Claim Your Rewards.

Considerations

  • Spore Power tokens are required in order for users to be able to stake Condor NFT tokens.
  • The relationship between Spore Power tokens and Condor NFT tokens are in a 5 to 1 ratio, meaning that by each 5 Spore Power tokens you posses, you will be able to stake 1 Condor NFT token.
  • The Condor Token pre mining will be active until mainnet network is launched, this pre mining period will contemplate a pool reward per block of 0,009 Condor Token, and a Condor NFT token price of 30 SPORE.
  • After the network entries on production regime “mainnet”, the pool reward per block will be adjusted at 0.005 Condor Token, and the price for Condor NFT token will be at 50 SPORE.

1. Get Condor NFT tokens

Condor NFT tokens ↗ are required in order to participate in the pre mining process of the network, the amount each user stakes will determine the earning yield percentage each will receive, distributing the new generated supply accordingly among all the stakers.

All Spore Tokens from purchases are automatically transferred to our DAO burning wallet ↗ to be burned in the future.

You can purchase the Condor NFT token directly on our NFT store ↗.

https://nft.spore.engineering/?section=condor

2. Get Spore Power Tokens

Spore Power tokens ↗ will determine the total amount of Condor NFT tokens you can stake in the pool, you just need to hold them, no token is burned nor transferred in the process.

What Are Spore Power Tokens?

Spore Power tokens are used by the Spore Engineering DAO ↗ as people’s voting power to vote on protocol governance proposals ↗.

They are required for users to be able to stake Condor NFT tokens on the staking contract ↗ in a 5 to 1 relationship, meaning that by each 5 Spore Power tokens you have, you will be able to stake 1 Condor NFT token ↗ on the staking pool contract.

https://dao.spore.engineering/?section=governance

3. Approve the staking contract

Different from the traditional ERC20 tokens we are used to, the ERC1155 non fungible standard doesn’t approves an amount of tokens to be spend by the contract, being much more easier for them to interact with the staking module, because you just need to approve the contract once.

The staking platform have a convenient switch button which can approve or not the staking module to be able to interact with your tokens (turn on and off).

Contract needs to be approved in order to stake and unstake Condor NFT tokens.

https://app.condor.vision/?section=stake

4. Stake your Condor NFT tokens & Claim Your Rewards

The staking process is pretty simple and straightforward, we put extra efforts in making this as much user friendly as possible.

You will have the metrics that you are already used to, and if you are a former user of our Spore liquidity mining pools, this will result in a very familiar experience but with better UX.

  • A. APR: The Annual Percentage Rate is the interest rate on Condor Token that we give in the pool as reward for staking Condor NFT, multiplied by the total periods in a year this interest rate is applied to each user.
  • B. Daily %: The daily % represent the APR divided by the 365 days of the year, to obtain the possible rate the pool gives to users each day.
  • C. Your Daily Yield: This is calculated in real-time based on your total Condor NFT staking amount, it will gives the user an estimated daily yield interest rate amount based on Condor Token to be claimed in time.
  • D. Stake: This input let users to stake theirs Condor NFT tokens in the pool.
  • E. Unstake: This input let users to unstake theirs Condor NFT tokens from the pool.
  • F. Claim: Every time a new block is mined (every15 seconds), the available yield amount that each user earn will increase, enabling them to claim or retrieve these funds to theirs wallet client directly with no platform fees other than network gas.
https://app.condor.vision/?section=stake

Condor Token Pancakeswap Pool

Certainly not everyone will be willing to stake in order to produce Condor Tokens to pay for mainnet transactions gas fees, that’s why a liquidity pool for CONDOR-BNB ↗ will be open to exchange your farmed tokens.

https://pancakeswap.finance/swap?inputCurrency=0x878b87ce0d7d877855a65492eb6a4ca50849ac97

How APR Is Calculated?

For a more detailed explanation on how APR is calculated, you can check this Medium publication ↗ in which we explain more in depth the formula with an exercise.

https://www.investopedia.com/terms/a/apr.asp

Condor Protocol Contracts

Contracts are public and verified on BSCScan for everyone interested in looking at them, you can also check on the Github repository ↗ for the complete contract list.

Condor ERC20 Wrapped Token Contract

Condor Staking NFT Contract

https://github.com/condor-vision/v1-contracts-monorepo

Official Condor Links

Official Spore Links

Blockchain Factory | spore.cl