Just like with governance (where voting power is proportional to the amount of inSPIRIT you hold), holding inSPIRIT will enable farmers to boost rewards up to 250% (or 2.5X).įor example, let’s say you are farming in a pool that is usually giving 120% APR. InSPIRIT holders will be able to earn a higher yield in these new boosted farms. In a nutshell, inSPIRIT is a big step toward allowing SpiritSwap to become a real DAO, shifting some decisions of the project to the users. The boosted farms work just like regular farms and may be identical, but the spirit emission rate to them is determined by voting through inSPIRIT holders. What is the difference between farms and boosted farms? You can think of boosted farms as being farms with more functionality (the ability to boost APYs). Every week, inSPIRIT holders get to vote on the reward allocation to these boosted farms. These unique farms are referred to as “Boosted Farms”. Farm governanceĬurrently, holding inSPIRIT will give you a chance to vote on pool allocations, effectively adjusting the APY of certain farms. Let’s dive into these features in more detail! 1.
#Inspirit fold how to#
Here’s a detailed how-to guide on how to use inSPIRIT. In fact, inSPIRIT brings in two other rewarding use cases, as it will be used to boost farm APYs for inSPIRIT holders and will allow them to also receive a share of all the swap fees. However, inSPIRIT is much more than just a step towards governance. To put it simply, inSPIRIT is a yield generating, governance, and utility token based off Curve’s veCRV and Pickle’s DILL tokens.
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