General tutorial
The process of swapping and farming on DonutSwap, along with instructions on how to utilize YUM plugins, is presented in this tutorial. For a comprehensive understanding of DonutSwap and its features, we recommend referring to the protocol documentation
The guide presented here illustrates the process using $UNI as a case study, but the outlined principles are equally applicable to a range of other tokens.
How to swap
Go to the Trade -> Swap tab
2. Select Swap mode
Aggregator (V3) - Aggregator (V3) - This mode utilizes the Paraswap or OpenOcean API and combines both the DonutSwap V3 and V2 AMMs
V2 - This mode exclusively uses the DonutSwap V2 AMM
(For tokens that have a unique transfer fee, it might be required to substantially raise the slippage tolerance and exclusively utilize the V2 swap feature)
3. Select ‘’Token that you want to swap for UNI’’
4. Click on swap and confirm the transaction in your wallet (if you are transacting a token for the first time, your wallet will ask you to approve it first)
Farming on DonutSwap
V2
By generating a spNFT, you gain access to LP swap fees and farming rewards, which can be enhanced through locking mechanisms and the use of YUM's yield enhancer.
Additionally, depositing the spNFT into the Nitro pool unlocks further reward opportunities.
Therefore, depositing the spNFT in a pool is not necessary, and only engagement with the Nitro pool mandates depositing.
V3
To learn more about V3 farming (LP Only & spNFT) please follow the link below
Farming emissions
DSP is the native token of DonutSwap, while YUM represents a unique, non-transferable token that reflects the amount of DSP staked in the system. The worth of YUM is directly linked to the value of DSP, with a conversion ratio of one YUM being equivalent to one DSP.
The bulk of farming emissions are linked to the YUM system, which necessitates a redemption process for trading. This guide offers detailed insights into the functioning of this redemption mechanism.
The farm incentives provide an 80%/20% YUM ratio, while in this case, the Nitro pool provides UNI incentives
To ensure accurate information, it's advisable to visit the Nitro pool page, as incentives can differ depending on the specific pair involved.
Create V2 staked position
Go to the Trade -> Liquidity tab.
2. Select V2 and spNFT.
3. Select UNI and ETH and approve/create position.
4. Choose the lock duration and specify whether you want to deposit your position into a Nitro Pool (Optional)
5. Click Create position.
6. Confirm the transaction once the wallet window appears.
Nitro boost
Upon creating a staked position, go to the Positions tab and select your spNFT.
2. Locate Stake in Nitro button.
Select a matching Nitro pool and proceed with staking.
Alternatively, you can look for the Deposit button on the Nitro pool dashboard.
Enhancing Farming Returns with spNFT (v2)
The spNFT (v2) farming benefits can be amplified through either time-locking or utilizing a yield booster. These enhancements rely on multipliers, with a maximum possible multiplier of 3x.
Note: Only the APR from farming emissions is subject to these boosts. LP trading fees and Nitro pool rewards remain unchanged.
Multiplier Effects on Farming Benefits:
2x Multiplier = 100% Increase
3x Multiplier = 200% Increase
Time-locking
Users can set a lock duration while creating an spNFT or modify it later in the position management panel.
A 6-month lock yields the highest time-locking boost, though any duration can be set.
Maximum time-lock multiplier: 2x
To modify an existing spNFT: Go to Earn -> Positions tab -> Select the desired position.
Yield Boosting
The Yield Booster feature allows users to assign YUM to a staked spNFT, enhancing the APR from farming emissions (specifically in pools incentivized by DonutSwap).
As more YUM is allocated to a pair by users, the APR for that amount decreases. This effect is reversible.
Maximum yield boost multiplier: 2x
Yield Booster Plugin Mechanics
(Hypothetical Rates for Illustration)
Example: A Squire's spNFT is earning 50% APR from UNI-ETH farming emissions.
The Squire assigns 1 YUM via the yield booster, raising the bonus multiplier of his position to 1.5, thus earning 75% APR.
As other knights allocate YUM to the VELA-ETH pair, the bonus multiplier for the Squire's position drops to 1.25, resulting in a 62.5% APR.
Conversely, if knights remove YUM from the UNI-ETH pair, the multiplier for the Squire's position might go back to 1.5, bringing the APR back to 75%.
An overview of the yield booster preferences:
Earn real-yield
YUM tokens can be assigned to multiple extensions, such as dividend modules, to gain a portion of the protocol's profits as actual returns. This primarily involves earning through ETH-USDC Liquidity Pool (LP) and YUM holdings. An elaborate guide is available for a detailed understanding of this process.
Gain familiarity with the benefits associated with Launchpad.
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