SpiritSwap
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Farm

SpiritSwap itself is simply a blockchain protocol which, by design, does not offer any resources for utilisation As such, in order to provide users easy access to $SPIRIT and for the protocol to perform its core function as a DEX, users would need to be incentivised to play the role of liquidity providers and stake their digital asset pairs (e.g. ETH/$SPIRIT) into the decentralised market making pools to provide the necessary liquidity for transactions. As compensation for opportunity costs, these liquidity providers which help to promote adoption of SpiritSwap by staking or including assets to selected liquidity pools (i.e. farms) in exchange for SPIRIT-LP tokens would be rewarded with $SPIRIT (i.e. "farming" on SpiritSwap), according to each user's relative contribution after various adjustment and correction parameters.
In Figure 1, a liquidity provider deposits supported SPIRIT-LP tokens to the farm contract.
Figure 1. Farming on SpiritSwap.
The farm contract emits 10 $SPIRIT/block and the new farmer owns 100 out of 400 SPIRIT-LP tokens in the farming contract. Therefore, the liquidity provider will be earning 2.5 $SPIRIT tokens per block.
SpiritSwap's goal is to bring liquidity to Fantom, therefore we will prioritize supporting farming rewards for other protocol tokens that are building on Fantom. However, eventually supported farms and their emissions will be decided by governance.
Last modified 1yr ago