Delegate NFTs
Step-by-step guide on how to delegate NFTs to a Scholarship Program.
Last updated
Step-by-step guide on how to delegate NFTs to a Scholarship Program.
Last updated
To delegate NFTs deposited in the Safe to a Scholarship Program, go to Scholarships -> Safes -> Safe NFTs tab. In this tab, you will see all the NFTs deposited in your Safe that you can delegate.
To get started, click on the 3 dots of one of the NFTs, and select the Delegate option:
Select all the NFTs you wish to delegate and click on the Delegate button. After that, you will be prompted with a dropdown list of all Scholarship Programs in the Platform. Select the desired one to proceed.
Right now, Scholarship Programs are identified by a number, e.g., "Scholarship Program #10". In a few weeks, we will deploy an update to enable Guild owners to change the Program name and Avatar, which should greatly facilitate finding the right Programs.
Once you select a Scholarship Program, the UI will load all its details and will ask you to provide the Max Rental Duration:
The Profit Share section details the proportion of earnings distributed to each participant. In the example above, 40% of all $GHST generated will be given to the Guild and 60% to the NFT Owner. And when it comes to Alchemica, the earnings are also shared with the Scholar (borrower) and the Land Owner.
Users should also pay attention to the Maximum Rental Duration option, this limits the amount of time that their NFTs can be rented for. For instance, the Aavegotchi Protocol allows NFT Owners to create rentals for up to 30 days. By setting a Max Rental Duration, users can limit the duration their NFT is rented for each time. This means that if their limit is 8 hours, and they want to withdraw, the maximum amount of time they will have to wait (to get their NFTs back) is 8 hours.
Once you find the right Scholarship Program and set the appropriate Max Rental Duration, click the Delegate button and confirm the transaction in your wallet.
You will notice that the status of the NFTs will change from IDLE to DELEGATED. At this point, the Guild should be able to create rentals on your behalf.
We highly recommend you engage with the Guild that owns the Scholarship Program. You should let them know that you have delegated assets and are now part of their Scholarship Program. We are working on tools for notifying Guilds about when new assets are delegated, but until then, we recommend NFT Owners reach out directly to Guilds.
