spNFT

How can I access spNFTs?

spNFTs represent staked positions that emphasize technical aspects over visual aspects. Once a position is created, it can be converted into an spNFT, essentially making it a unique asset or LP (Liquidity Provider) transformed into this format.

What is an spNFT?

In simpler terms, an spNFT is created by converting a wrapped LP into one, opening up more advanced farming options compared to traditional LP farming. This includes functionalities like depositing into Nitros, time-locking, and more.

What is the purpose of creating an LP position?

By forming an LP position using combined assets, you contribute liquidity to the protocol. This position then becomes a staked position (spNFT), functioning similarly to staking your holdings in a yield farm. This staked position can be locked, managed in various ways, enhanced with YUM for higher yields, and deposited into a Nitro pool for increased rewards.

What sets a yield-bearing position apart from a non-yield-bearing one?

A position becomes yield-bearing and accumulates yield automatically if it corresponds to an incentivized pair on DonutSwap. Non-yield-bearing positions, however, can be leveraged by anyone and are directly rewarded through Nitro.

How are stable pairs different from volatile pairs?

Stable pairs consist of stablecoins and aim to maintain a consistent price. In contrast, volatile pairs are composed of assets whose values can fluctuate.

What does the default reward setting of 80% YUM and 20% DSP in the Pools tab signify?

This means that you'll receive 80% of your rewards in YUM and 20% in DSP.

How can I maximize my position's APR?

You can maximize your yield by employing a combination of locking, yield boosting, and participating in the Nitro pool.

What should I do to withdraw my funds from the protocol?

To withdraw your funds, first, withdraw your staked position, and then unbind the LP token.

What benefits does locking my position offer?

Locking a yield-bearing position provides bonus rewards proportional to the lock duration. Each incentivized pair has specific configuration settings in this regard.

Will locking my position (spNFT) also lock my pending rewards?

No, your rewards are not subject to locking. You can harvest them at any time.

Can I extend the lock duration of my position whenever I want?

Yes, you can extend the lock duration of your position at any time, provided the new duration matches or exceeds the remaining duration of the existing lock.

Is it possible to transfer my position to another address using the transfer function?

Yes, using the transfer function, you can transfer your position to another address, making that address the new owner of the position.

What is the purpose of the split feature?

The split feature enables you to divide a position while retaining the original settings, including the lock duration.

Why might I choose to lock my position for more than six months if the maximum lock bonus is already achieved within this period?

While the maximum lock bonus is achieved with a six-month lock, other protocols may incentivize longer lock durations through Nitro pools

What is the rationale behind transforming a single asset into a staked position when there are no pools available for earning yield?

Depending on the Nitro pool, staking a single asset spNFT may still be necessary.