How the $LOST token claim process works?

To earn $LOST tokens, you must stake your Lost Glitches NFTs on the Ethereum network. Implementing a staking mechanism provides huge benefits for the project in long term even though it creates some initial gas-fee related draw backs.

To stake your NFTs, they must be transferred into a staking contract provided by The Lost Glitches. The contract will be deployed and verified on Ethereum so that it’s source code can be inspected on Etherscan. The staking contract and the deposit flow can be accessed through the official Lost Glitches website only.

Don’t use any other links or websites to connect with the official Lost Glitches staking contract.

Depositing the NFTs to the staking contract will unfortunately involve a gas fee. The gas fee should be somewhat close to what it costs to transfer a NFT to a different wallet. In addition, a one-time approval will be required which lets the staking contract maintain your NFTs. If you want to earn more $LOST tokens, you need to deposit more NFTs to the staking contract.

As soon as your first NFT is in the contract, you’ll start earning $LOST tokens. You can harvest them anytime and suggest leaving time for them to accumulate. The $LOST tokens will then be transferred to your wallet and you can trade them on decentralized exchanges or provide liquidity yourself.

// The benefits of staking.

One of the benefits of the staking mechanism is that NFTs that could potentially be listed on Opensea can’t be listed for sale anymore when they are in the staking contract. This will reduce availability of Glitches and create more demand for for them. That means that everyone who believes in the Lost Glitches long-term and wants to earn $LOST tokens, is rewarded for not taking the chance to sell their NFT on Opensea or other secondary marketplaces and creates higher demand if someone chooses to sell.