It was created in order to reward GMEE token holders on Ethereum and the communities across GAMEE's ecosystem, and is now centred around the WatBird.
It's a series of Episodes that started on February 8th, 2024, and was initially known as the Phoenix Protocol.
The initiative was created to enhance the utility of the GMEE token within our ecosystem. Over 5 episodes taking place across the GAMEE ecosystem, participants can collect WatPoints, known at launch as "Loot".
At present, there are three episodes available to take part in.
Episode 1:GMEE Soft Staking (Finished)
Episode 2: The WatPoint Mine.
Episode 3: GMEE Hard Staking
Episode 4: NFT Communities
What are WatPoints?
WatPoints are what you collect in the Wat Protocol. They can be collected in different episodes of the Wat Protocol, and in events elsewhere, such as in Arc8.
What are WatPoints for?
This will be revealed in the final Episode of the Wat Protocol. At the moment, it is only possible to collect WatPoints.
Who is the WatBird?
The WatBird is the meme character that replaced the phoenix during Episode 3, and is at the core of the Wat Protocol. Unlike the Phoenix, the WatBird has lore and character, which will be gradually revealed as the Wat Protocol continues.
Episode 3 of the Wat Protocol is a hard-staking initiative on Ethereum: this means that the GMEE you commit to staking is locked for the period of time that you choose. You can choose to stake for 30 days or 60 days, with the latter option resulting in more WatPoints.
What is NFT Communities (Episode Four)?
Episode 4 of the Wat Protocol is for friends of the WatBird. Blue-chip NFT communities (and GAMEE's own Beasts) can earn WatPoints every day simply by holding.
The minimum staking amount is 1000 GMEE. There is no upper limit on how much GMEE you can stake. However, the more GMEE you stake (and the longer you do it), the more WatPoints you will earn.
Is my GMEE safe while hard staking?
Yes. Your GMEE is locked into a contract for the duration of time you choose (30 or 60 days). It will be returned to you. However, note that you cannot access or trade your staked GMEE during this period; if you withdraw your stake, there is a 5% tax on the amount staked.
Can I change the amount of GMEE I have staked?
You cannot remove GMEE from the contract after you have staked without incurring a 5% tax, but you can stake more GMEE.
You must stake for the same amount of time as your initial stake (30 or 60 days) and the staking period will be reset back to day one for all the GMEE you now have in the contract.
How do I connect my wallet on the Wat Protocol website?
To connect your wallet on the website, do the following:
On a mobile device: Use the Wallet Connect optionand select the Ethereum wallet you are using to hold GMEE.
On Mac/PC: You can connect directly using a wallet from the list, or you can select Wallet Connect if you do not see your wallet listed there.
How do I collect WatPoints?
In Episode Three, there are tiers for those who stake GMEE, each offering different daily Loot rewards. WatPoints are awarded based on the amount of GMEE a participant stakes.
Is it possible to collect WatPoints on another network aside from Ethereum?
No. Although we gave a bonus WatPoint reward to those who previously held GMEE on Polygon, the Wat Protocol is an exclusive feature for GMEE holders on Ethereum, and for our community on Telegram and Arc8.
