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# System prepended metadata

title: Shinobi Sers Guide to Alpha

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# Shinobi Sers Guide to Alpha

- Updated 30th January 2022

# Welcome Shinobis :tada:

## Useful sites
[MagicEden](https://magiceden.io/)
[Solanart](https://solanart.io/)
[Moonrank](https://moonrank.app/)
[Solrarity](https://discord.gg/solrarity)


# Solana Minting Guide

Creating a new wallet or Migrating to Phantom
1. Head over to http://phantom.app/download and select the type of browser you wish to download on.

2. Select the option 'Create new wallet' if you are a brand new user. Visit https://phantom.app/help/migrating-from-sollet-to-phantom to switch your current wallet onto Phantom.


Purchasing Solana
1. Sign into your account and search for Solana

2. Select 'Buy/Sell' and purchase your desired amount of Solana

3. After purchasing Solana, open up your phantom wallet application and retrieve your Solana address.

4. Head back to the exchange and select 'Withdraw SOL' or the 'Send/Receive' option.

5. Paste in your Solana wallet address and specify the amount of Solana you wish to transfer from the exchange into your wallet.

6. Click on 'Send Now' and you have successfully transferred your Solana into your wallet.

# How to choose your investments?

## Evaluate the developers
1. Check for reputations from past projects
2. Evaluate their experiences if it is true, usually it's easy to call out someone who tries to fake technical experience
3. Listen to the AMAs if they do have, you can pick fluff out of the content that they say

## Evaluate the viability of the utilities
1. Make sure that the devs are not over-promising, utility must fit into that of their timeline promised. E.g. Games take awhile to develop, unless they already have it settled in the backend, they are usually pending game developers to be onboarded before it is even possible
2. Utilities like staking may sound extremely enticing but are their tokens really worth anything once you have staked your NFT
3. Read through their Lite/White papers and understand thoroughly if their utility is viable

# Staking Explained

## Broad Definition
With cryptocurrencies that use the proof-of-stake model, staking is how new transactions are added to the blockchain.

First, participants pledge their coins to the cryptocurrency protocol. From those participants, the protocol chooses validators to confirm blocks of transactions. The more coins you pledge, the more likely you are to be chosen as a validator.

Every time a block is added to the blockchain, new cryptocurrency coins are minted and distributed as staking rewards to that block's validator. In most cases, the rewards are the same type of cryptocurrency that participants are staking. However, some blockchains use a different type of cryptocurrency for rewards.

If you want to stake crypto, you need to own a cryptocurrency that uses the proof-of-stake model. Then you can choose the amount you want to stake. You can do this through many popular cryptocurrency exchanges.

## Governance token
Governance tokens are blockchain tokens that grant voting and management power to their users. They are really important in a DeFi environment where there is a requirement for power balance. Through governance tokens, you can vote on proposals that are related to your blockchain. 

Governance tokens ensure that the voices of blockchain members are heard while making decisions related to the codebase and its management. These tokens can also define the rules by which blockchain performs transaction and block verifications.

## Development
1. Creation of a staking token
2. Data structures (tracking and stakeholders)
3. Methods to create and remove stakes
4. Rewards system
    - 5% equivalent to amount of NFTs staked * average rarity score
5. Robust test cases

### Further development
1. Internal beta testing
2. Complete write-up of documentation for our use-case
3. Deployment to internal marketplace
4. Deployment to external marketplace

# Questions

Feel free to ping us for questions:
- Mention `@ShinobiSersNFT` on [Twitter](https://twitter.com/ShinobiSersNFT)
