For staking purposes, all Theta Dragons have been divided into 6 staking tiers, which have their own filter on the marketplace page and can be seen in the attributes of each individual dragon. These tiers are:
The staking tiers are determined by the rarest attribute possessed by a Theta Dragon, not by their rarity rank (which is a combined ranking based on all attributes).
There were several reasons for this. As there is more than one rarity ranking method in existence, using the attribute counts has less room for confusion. Secondly, the rarity ranking is a fairly complex algorithm and hard to explain, whereas attribute counts are so easy even a child could understand them. And finally, as humans, we tend to value NFTs based on the actual attributes they possess and not as much on overall rarity (though the latter is a useful guide), so it made sense to base the tiers on the attributes.
A consequence of this is that there will be many cases where there's a disconnect between the rarity rank and the tier. For instance, the best ranking tier 1 (Common) dragon is ranked 833, whereas the worst ranking tier 2 (Uncommon) dragon is ranked 3101. Why the discrepancy? It's entirely to do with the fact that the rarity ranking takes multiple attributes into account, whereas the tier divisions do not. In this example, the highest ranked Common dragon has several rarish attributes, but none rare enough to put it into a higher tier. Whereas the lowest ranked Uncommon dragon has only one rarish attribute, but it's rare enough to put it into tier 2.
In determining the cutoff point for each tier, the number of different traits for each attribute had to be taken into account, as well as the distribution of those traits. For example, there are a lot more clothing traits than items, and most dragons have some form of clothing, so clothing needed to be given less importance than the other traits. Conversely, traits such as horns, items, rings and tattoos were given more weight. Ultimately, the decision as to what the tier cutoff for each attribute should be was based partly on the actual numbers of each trait (in many cases the cutoff point was obvious), partly on how the community valued the particular traits, and partly on the requirement that there should be fewer and fewer dragons in each successive tier.
For those curious as to why their dragon is in a particular tier, the exact cutoffs used are given below.
Staking rewards are based on the $FIRE token. To add $FIRE to your browser wallet, use the following details:
Token Contract Address:
0x1411ee16af1c774e03094e64f71bc7db422b672d
Number of Decimals:
18
Each staked dragon receives a certain number of $FIRE tokens per hour. The base rate depends on the tier of the dragon:
The base rate is then adjusted based on the proportion of the token supply remaining to be created. $FIRE has a maximum supply of 1 billion tokens. If 90% of that supply has yet to be created (that is, when there are 100 million tokens in existence) staking rewards will be 90% of the above rates. When only 10% of the supply remains to be created (when there 900 million tokens in existence) staking rewards will be down to 10%.
This has the the result of rewarding early holders, and also provides a built-in mechanism to ensure that the supply cap is never reached.
Rarity calculations are similar to those used by many other rarity sites. If you're interested in the theory behind the rarity calculations, this article gives a very good overview.
Each Theta Dragon is ranked by:
The method used here to calculate a Theta Dragon's rarity based on individual attributes, while good, does have some shortcomings:
There are some differences between the rankings on Theta Rarity and on Open Theta. This is because Open Theta uses the Open Rarity algorithm. At Theta Rarity we choose not to use this algorithm as it has what we consider to be several significant shortcomings.
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