FAQ

Collections & Obelisk NFTs

Q: How can I add a new collection to Obelisk? A: Obelisk uses UMA as a Data Asserter. Anyone can add a new collection, but there is a trust process to ensure the information provided is valid.

Q: How do we activate a collection so it has its own Obelisk NFT version? A: After the collection is approved, the community must collectively deposit 100 ETH. Those who contribute are called "Contributors."

Q: What happens to the 100 ETH? A: The 100 ETH is locked permanently in a liquidity staking protocol called Dinero, generating yield indefinitely.

Q: What happens to the yield generated by the locked ETH? A: The yield is directed to our Gauge system, which allocates it to megapools based on community votes. 100% of the generated yield goes to Obelisk.

Q: Why should I become a contributor to a collection? A: Contributors have the potential to receive up to 2.5x their deposit, although there are no guarantees. The more NFTs are wrapped and paid for, the higher the potential return for contributors.

Q: What’s the Obelisk NFT Multiplier? A: The multiplier determines how much of the HCT generated you’ll receive. The higher your multiplier, the more HCT you get. The multiplier is based on the collection’s age, capped at 3x.

HCT

Q: Where can I get HCT? A: You can obtain HCT either from a liquidity pool (LP) or by owning an Obelisk NFT with multipliers.

Hashmask

Q: Why is it possible to lose rewards? A: Since Hashmasks are not staked in our contract, we had to create workarounds to enable reward earning. To prevent exploitation, we’ve implemented stricter claiming requirements.

Q: What happens to the lost rewards? A: Lost rewards are returned to the pools and redistributed.