🧟GraveDigger Yield

Empowering Communities

What is a GraveDigger?

The GraveDigger is a liquid staking platform built by the BackBone Labs team allowing users to stake $INJ and receive the $bINJ liquid staking token (LST). LSTs are a vital part of any DeFi economy enabling users to stake their assets while still owning a liquid token they can use to buy, sell or use for other DeFi activities.

How does a GraveDigger work?

When users stake their $INJ with the GraveDigger they receive an LST called $bINJ. $bINJ is an auto-compounding LST meaning users do not have to claim rewards, they are automatically added to their position. The GraveDigger has a 10% performance fee attached that is taken from the staking rewards collected from the staked $INJ. This 10% performance fee is 100% distributed back to the community and is used to provide the yield for the Galactic Syndicate collection.

How do I stake my NFT?

NFTs are stakable via the "The Crypt" powered by Enterprise DAO. Enterprise DAO allows the staking of NFTs, creation of DAOs and easy distributions of rewards. Users that stake their NFTs will also have the ability to vote on proposals powered by DAO governance tools made available by Enterprise DAOs tooling.

How often are rewards distributed?

Rewards will be distributed to stakers on a weekly basis. Distribution will be carried out by the BackBone Labs team and rewards will be claimable on Enterprise DAO.

How much of the GraveDigger yield do Galactic Syndicate stakers receive?

The 10% performance fee is split into 3 portions (as per the $SOUL Litepaper).

40% for $SOUL Stakers 30% for Galactic Syndicate 30% for SOUL Liquidity providers

Additional Revenue

In addition to the revenue from the BackBone Labs GraveDigger, the Galactic Syndicate collection DAO will receive revenue from secondary market sales. Furthermore, the Galactic Syndicate team is dedicated to exploring additional revenue streams to bring further value to the collection and its community.