Beamswap to launch Yield Booster for increased Farm rewards
The new feature will allow you to allocate idle stGLINT tokens to chosen Farm pools and earn greater yields.
Another major upgrade is coming to the Beamswap platform.
This time around, we went all in on enhancing the reward-earning experience and found a way for you to farm greater yields with your assets in just a few clicks.
Here comes the Beamswap Yield Booster. 🌱 🚀
What is Beamswap Yield Booster?
True to its name, the Yield Booster feature will allow you to earn greater yields in Beamswap Farms of your choice.
How? Simply by allocating your stGLINT tokens in the form of voting power to increase farm rewards.
Let’s say you have already allocated some of your balance to a Farm pool on Beamswap, for example, the GLINT — GLMR pool, and have been earning some nice rewards from it.
But why not increase the GLINT reward rate of that pool and earn more?
With Beamswap Yield Booster, you will be able to do just that — another use case for Beamswap’s native stGLINT token, which keeps expanding its range of utilities.
How to increase yields in Beamswap Farms?
With Beamswap Yield Booster, it will be just a matter of clicks.
Step 1: Get stGLINT
First things first: acquire some stGLINT if you don’t have any in your wallet. You can do so on the Beamswap Dashboard.
Step 2: Allocate stGLINT
On Beamswap, navigate to the Yield Booster (Vote) page (live soon). Choose a pool where you wish to boost the reward rate, for example GLINT — GLMR, and allocate your stGLINT to it.
Click “Add Votes”, select the amount of stGLINT — the more tokens, the greater your voting power — , click “Approve” and confirm the transaction in your wallet.
Once approved, click “Vote” and confirm the action in your wallet.
That’s it, really.
You will be able to deallocate stGLINT from a pool anytime, but keep in mind that deallocation comes at a fee (a maximum of 2% of allocated stGLINT), and the fee amount will be permanently removed from circulation.
Boost your rewards in 1, 2, 3!
With Beamswap’s newest Yield Booster feature, you will be able to have a say in the growth of your portfolio.
Make the most of your farming efforts and put your stGLINT to better use.
Boost your yields with Beamswap! 🚜
About Beamswap
Beamswap is a DeFi Hub built on the Moonbeam Network featuring a decentralized exchange (DEX) and an automated market maker (AMM). It gives users the freedom of adding liquidity, performing peer-to-peer transactions, swapping fungible tokens, and earning passive income from staking and yield farming. Beamswap will support the growth of Moonbeam’s ecosystem and act as a launchpad for new projects developing on the network. Our team’s mission is to aid in the multichain vision to serve as a host for projects on the Moonbeam & Polkadot Ecosystem while working alongside projects with existing infrastructure looking to bridge into the multichain universe.
