# Staking

Techie Club is an inclusive community for both current and aspiring techies. With our expertise in tech, we educate and support your tech journey in web2 & web3.

Part of that mission is to provide our holders with unique perks that will reward and support them on their journey. With that in mind, we created a staking system with a unique marketplace that will reward our holders with allowlist spots (free mints & more), free and discounted services, 1on1 mentoring, marketing and much more. 

## What is staking?

**Starting August 12th, 2022, holders of Techie Club Genesis NFT will be able to stake their NFTs** [**here**](https://vibe.techieclub.co/)**.**

Staking removes the NFT temporarily from your ETH wallet and locks it in a smart contract. Holders can choose to retrieve the NFT back to their wallet (un-stake) at any time.

The primary reason for staking is that it allows us a way to share rewards with our holders. As we venture into more collaborations and partnerships, holders can expect to receive a wide variety of staking rewards.

To earn $VIBE coins: When your NFT is staked, you will accrue 5 $VIBE coins every 24hrs until your NFT is un-staked.

## $VIBE Coin

$VIBE coin is an ERC20 utility coin for Techie Club. It will serve as the medium of exchange for Techie Club’s Marketplace.

![](https://2081098684-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FxX3xXQgmWzg6xaoJDsqq%2Fuploads%2Fu7TK1CDgtkf9BwJ4IWaK%2FTechie%20coin%202.png?alt=media\&token=f67327d9-b0e1-4063-8f4e-6627e4a809cd)

## Reward Structure

You will receive the equivalent of 5 $VIBE coins every 24hrs that your NFT is staked. If you stake your NFT less than 24hrs, you will still receive the correct percentage of $VIBE coins.

Example: If you un-stake after 12hrs of staking, you will receive 2.5 $VIBE coins.

## Marketplace

Holders can freely exchange their $VIBE coins in our marketplace at any time. The marketplace will include: allowlist spots from various projects (free mints & more), free and discounted services, 1on1 guidance and much more.