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How to Use the NFT PowerStation on the Binance Fan Token Platform

2021-12-03 08:50
Tutorial Video

What is the NFT PowerStation?

NFT PowerStation is an innovative Binance Fan Token feature and the best way to step up your game as a devoted fan to score rewards using the supported NFTs on the Binance Fan Token Platform. NFT PowerStation allows you to charge your supported NFTs to power up your fandom and claim extra Binance Fan Tokens rewards for supporting your team of choice.

How does PowerStation work?

Binance Fan Token rewards will be distributed from a predetermined pool of tokens. They will be allocated depending on various factors, including: the type of supported NFTs charged, the Fan Power each charging NFT represents, and the number of participants. The longer you charge your NFTs, the higher your fan rewards will be. Please note that rewards are calculated on an hourly basis.

How to Participate in an NFT PowerStation and Charge NFTs?

1. Sign up for a Binance account and complete Identity Verification. Our Beginner’s Guide will help you get started.
2. Get the supported NFTs to participate in the NFT PowerStation. Find your favorite teams on the Binance NFT Marketplace and purchase the supported NFTs or Mystery Boxes using your Binance Fan Tokens. You can get Binance Fan Tokens via Launchpool or Launchpad at the public sale or after they are listed on Binance via credit or debit card, Spot, or P2P trading.
3. Visit the Binance Fan Token Platform to discover active PowerStations. Visit your preferred team profile under featured teams and switch to the “PowerStation” tab or find the latest PowerStation activities by scrolling down on the platform landing page.
4. Warm up for the activity and add your NFTs to the PowerStation slots. During the warm-up period, you can select and charge your previously acquired NFTs to the PowerStation slots. Remember, various NFT editions and NFT rarity tiers represent different levels of Fan Power. You cannot charge NFTs if they are already charging in another slot, being withdrawn, or on sale in the NFT Marketplace.
5. Track PowerStation performance before and during each activity. You can track the following details of a PowerStation activity from warm-up until the end of each activity:

  • Total Rewards: tokens rewards to be allocated between participating users.
  • Total NFTs Charging: all NFTs added to PowerStation slots by all users.
  • Total Fan Power: the more editions and the rarer NFTs users are charging, the higher the Total Fan Power will be and the more individual rewards participants will get.
6. Maximize your Fan Power with Full Set charging. To activate a Full Set of NFTs, allowing you to double your Fan Power and potential rewards, you need to charge all different items representing different categories of an NFT series. The easiest way to check if you have a full set is to visit the "My Collections" tab under the team profiles.
7. Claim hourly rewards and track your PowerStation progress. You can accumulate rewards every hour and claim them directly to your Spot Wallet at any time. Under [Reward History] - [Calculation History], you can check all your previously accumulated rewards, or go to [Distribution History] to see all claimed rewards to date.
8. Get in or get out of the NFT PowerStation any time. You can remove NFTs from the PowerStation immediately and abandon the activity at any point. However, the longer you participate, the more share you can get from the total reward pool. Once an NFT PowerStation activity is finished, all your previously charged NFTs will be unlocked, and all your unclaimed rewards will be automatically transferred to your Spot Wallet.

What are the different NFT classifications and their corresponding Fan Power levels?

NFTs have various classifications ranging from N (Normal), R (Rare), SR (Super Rare), and SSR (Super Super Rare). You can see it denoted in the corner of each NFT. The rarer the NFT, the more Fan Power it represents and the more rewards you can collect by charging it.
NFT Rarity
Fan Power Leverage
N
20 Fan Power
R
50 Fan Power
SR
200 Fan Power
SSR
1,000 Fan Power

Frequently Asked Questions

1. What is a Full Set and how to double your Fan Power for twice the rewards?
To activate a Full Set, allowing you to double your Fan Power and apply a 2x multiplier on your token rewards, you need to charge all different categories representing different items of an NFT series. The easiest way to check if you have a full set is to visit the [My Collections] tab under team profiles, where you will also be able to see additional items you need to acquire a Full Set.
2. Can I remove my NFTs after they have been charged in the PowerStation?
Yes, you can remove your NFTs from the PowerStation at any point without any delay. However, please note that the rewards will differ depending on the rarity and the number of NFTs charged in the pool. When you remove your NFTs, the rewards will be prorated according to the time (in hours) you charged.
3. Is there a limit to the number of NFTs I can charge?
Yes, the current limit will be based on the number of types of NFTs in the base collection.
4. Which Binance Fan Token NFTs will support PowerStation charging?
PowerStation Glossary
  • Edition: The smallest unit of a Mystery Box, meaning one individual NFT. From one Edition of NFT, you can have multiple issues.
  • NFT Item/Categories: One kind of NFT for a season or specific category.
  • Charging an NFT: The action of adding an NFT into the PowerStation slots in an attempt to collect Fan Token rewards.
  • Full Set/Complete NFT Set: When you charge different items (regardless of their rarity) representing different categories of an NFT series, they will activate a Full Set. Once a full collection is charged, you can enjoy doubled fan power and increased fan token rewards.
  • Removing an NFT: The action of withdrawing an NFT from a PowerStation slot in an attempt to collect Binance Fan Token rewards.
Please Note:
  • Only users who have completed Identity Verification will be eligible to participate in activities and win rewards.
  • You may check the rewards per 100 Fan Power on the activity page. The rarer the NFT, the higher the Fan Power.
  • You can accumulate your rewards (calculated hourly) and claim them directly to your Spot Wallet at any time.
  • Since the total number of participants of a PowerStation activity can vary but the total rewards are fixed, you will get a variable rate of rewards depending on your token contribution to the pools. The amount of rewards each participant will get is subject to the number of participants. If more users join, the rewards per capita will decrease and vice versa.
  • Each participant’s hourly (average) PowerStation rewards will be calculated in the following method: (Hourly charged Fan Power by a participant / Hourly total charged Fan Power) * Hourly rewards to be given in a specific PowerStation activity.
  • When you charge all different items from different categories of an NFT series, you can activate a Full Set and leverage it to double your Fan Power to earn twice the amount of rewards.
  • You can remove your NFTs at any time from the PowerStation NFT slots.
  • NFTs charged in the PowerStation and any unclaimed rewards will be automatically transferred to your Spot Wallet at the end of each activity period.
  • You can go to [PowerStation] - [Activity History] to check the outcome of past activities, including your previously collected rewards and more. Alternatively, you can go to [Distribution] under [Transaction History] on Binance.com.