Benefits of being a Soul Master

Benefits of being a Soul Master

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A Phantasma Soul Master is any individual who stakes at least 50,000 SOUL in a single wallet, and doing so consistently over time provides a host of benefits.

Firstly, every Soul Master will naturally earn a proportionate amount of KCAL (100 KCAL per day for a Soul Master staking 50,000 SOUL) and earn decentralized voting power in proportion with the amount of SOUL staked. Given the Soul Master’s significant commitment to and support for the Phantasma ecosystem there are however multiple additional benefits.

Badge of Honor

Not everything in the world is based on monetary value. Every Soul Master wallet displays a Soul Master badge when opened, confirming the special status awarded to this wallet.

Soul Master SOUL rewards

Every single month from Phantasma’s mainnet launch and for all eternity, 125,000 SOUL is minted on a monthly basis and distributed to all eligible Soul Masters. To qualify for this additional reward, the Soul Master must have staked 50,000 SOUL or more consistently every single day for the entirety of the previous calendar month. Current Soul Master SOUL rewards at the time of writing is 150-160 SOUL. These rewards are distributed automatically on the first day of the next month, ie February rewards are distributed on March 1st.

Loyalty CROWNs – boost your KCAL generation

As an added incentive to stake and to reward long term loyal supporters, the CROWN NFT was introduced during the xmas holiday season of 2020. The CROWN NFT is automatically distributed to Soul Masters who stake 50,000 SOUL or more consistently throughout an entire three month period. The first three month period started at the day of mainnet launch, and a new CROWN period starts every 90 days.

The CROWN NFT comes infused with a share of the KCAL earned by the ecosystem over the previous three months, as well as 10% of the block producers’ share of the 3% annual SOUL inflation to sustain development and incentivize contributions. To access these infused assets the recipient can burn the CROWN NFT, and they will be automatically delivered to his or her wallet.

However, holding on to your CROWNs can be quite attractive, as each CROWN up to a maximum of 20 stored in your wallet earns you a 5% boost to your KCAL generation rate. This means that a Soul Master staking 50,000 SOUL and usually earning 100 KCAL daily will earn 105 per day with the first CROWN in place, up to a whopping 200 KCAL daily with 20 CROWNs. Considering the attractiveness of CROWNs, they can be seen as contributing to reducing the circulating supply, as few are expected to burn their CROWNs to access its infused assets.

Eligibility as block producer

Finally, attaining Soul Master status is one of the prerequisites for anyone aiming to secure a block producer slot with Phantasma. Without fulfilling this requirement, there is no way to become either an active or a standby block producer.

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