Medium Article:
VVS Staking Utility V2 launch
Here is good news for our xVVS Vaults long-term supporters and our miner moles hodlers! Introducing VVS Staking Utility V2 — a new way to receive extra farming yield by locking xVVS into the vaults and staking your lovely VVS miner moles!
There are mainly two parts in VVS Staking Utility V2 — Boosted Farming and NFT staking.
Haven’t adopted your own Miner Mole? Learn more about VVS miner moles here. You can also get a cute Miner Mole at Minted.network.
What is Boosted Farming?
Boosted farming is a new feature for you to boost your farms’ APR and earn more rewards. In this article, we will introduce more details, and you can also go to our Gitbook for step-by-step guidance!
7 Exclusive farms available to boost at launch:
- CRO-ETH
- CRO-WBTC
- CRO-VVS
- CRO-USDC
- VVS-USDC
- VVS-USDT
- CRO-TONIC
How does Boosted Farming work?
To get your boosted rewards for your LP farms, you will need to deposit xVVS in vaults. The longer period and the higher the amount you stake, the stronger boosting multiplier you get.
Boost multiplier
Boost multiplier is the actual underlying mechanism that increases the value of a user’s staked LP in the boosted farming calculation — the actual calculation is laid out in later segments in this document
Essentially, it multiplies the value of a user’s LP in the boosting calculation such that a user now attains a higher share of emissions despite having the same value of LP as before — for eg. with a 2x boost multiplier on $1000 of LP, in calculations, their LP is now worth $2000 in calculations
Once a user deposits xVVS in xVVS vaults, they can select and boost up to 2 LP farms and enjoy up to 2.5x boost multiplier; in addition, if they are a Miner Mole hodler, they can also stake your Miner Moles on VVS to earn extra boost multiplier based on its rarity. A user can enjoy up to 3x boost multiplier with both xVVS locking and NFT staking.
Boost Factor
Boost Factor is the intuitive and visible component of a user’s boosted farm, which is different from Boost multiplier. It is calculated retroactively to allow a user to understand easily with his current boost multiplier from xVVS vaults and NFT staking, what is the multiplied APY they are getting compared to a normal LP staker. Example, a 1.1 Boost Factor would mean a user is getting 1.1x the normal APY of someone who doesn’t boost.
The boost factor you get for each farm will vary depending on the LP size and your portion (%) to the pool. Therefore, a user may see different boost factors for different pools, even if boosted by the same amount of locked xVVS and same xVVS vault.
Do note that given the way boost factor is calculated, if a user is the only person that is boosting the pool, he will be able to gain all of the pool’s boosted emissions, resulting in an extremely high boost factor, even if they have a low boost multiplier. However, in most cases, this should be unlikely since multiple people will be boosting the pool at any given time.
VVS Miner Mole NFT Staking
If you own one of our VVS miner moles, you can stake it to a farm and receive a higher boost multiplier from it.
- Each NFT can only boost 1 farm
- A maximum of 5 NFTs can be staked per farm
- A maximum of 2 farms can be boosted per user
In essence, a user can stake a max of 10 miner moles in 2 farms (5 in each farm)
Different levels of boosts will be given based on the levels of NFT rarities. The rarer the NFT is, the higher the boost multiplier will be. Boost is additive amongst NFTs.
NFT boost for LP farming is only applicable for the users who have locked their xVVS in the xVVS vaults (xVVS vaults multiplier caps at 2.5x without NFT staking). With NFT staking, the total boost multiplier will be capped at 3x.
In short:
- Deposit in xVVS vault to get boost factor
- Select up to 2 farms to execute with the boost factor
- Stake up to 5 Miner Mole NFTs for 1 farm
- NFT boost based on the number and rarity of the staked NFTs
- Increase your locking period or the amount of xVVS to get a higher boost multiplier and thus a higher boost factor
Boosting multiplier calculator:
- User new APR = Base APR + Boost APR
- Boost APR = User share of Boosted LP * VVS Emissions dedicated to Boosted LP
- Boosted LP = Final boost multiplier * User current LP
- Final boost multiplier = xVVS vault multiplier * NFT staking multiplier max(Final boost multiplier, including NFT staking) = 3x (300%)
- Max(xVVS vault multiplier) = 2.5x (250%)
- xVVS vault multiplier = Dependent on user share of xVVS boost
- NFT staking multiplier = Dependent on quantity and rarity of NFTs staked
Examples (illustrative)
Alice — does not lock xVVS or have any Moles
Bob — locks xVVS, but does not have any Moles
Charlie — locks xVVS, and own several Moles
OR simply use the boosting calculator on VVS to get your estimated APR!
FAQ
- Is there any cool-down period for me to boost the farm? Can I switch to other farms or un-boost farms?
No, it is based on your xVVS vault locking period, you can switch to different farms depending on your strategies. And you can switch the farm or un-boost a farm by going to xVVS vault option or from the Farm page itself. - Can I get a boost factor from different vault locking?
Yes, the boost factor will depend on your xVVS vault locking amount and duration. You will get a higher boost factor for your farm if you lock more xVVS tokens or select a longer locking duration. - What if right now I don’t have any existing LP farm staking?
You can choose to stake and boost your LP farm later at xVVS vault selection - Can I boost the same LP farm from 2 different vaults?
No, you can only boost up to 2 unique farms per vault. - Do I get to boost a farm every time I lock a new batch of xVVS in a different vault?
The boost factor will only take effect once your farm is selected in a specific vault. You can opt to lock a larger amount of xVVS or with a longer duration to increase the boost effect - Are Boost factor and APR numbers fixed?
As always, APRs and Boost factor fluctuate with people joining and leaving the liquidity farms. Displayed APR figures are estimates provided for your convenience only, and by no means represent guaranteed returns. - If I boost a multi-yield farm, am I able to get extra yield for all tokens or just VVS tokens?
Boost factor rewards will be in the form of VVS tokens. - If I lock xVVS into a vault and choose to boost 2 farms, how will the boosting factors be allocated between 2 farms? (i.e. Will I enjoy the max APR% boost for both farms, or will I get a lower APR% boost for each farm?). Each farm has its individual base APR% calculations. The boost factor will be allocated to the farms selected and multiplied with their base APR%
- Is there any expiry date for the boost? Or will it end on the lock end date of that batch of xVVS locked?
The boost effect will follow the xVVS lock duration - Can I choose to boost my farm later, instead of deciding at the time of locking xVVS in vault?
Yes, you can choose to boost your farm later by selecting the farm from xVVS vault - When I choose to boost my farm later, will I refresh the lock end date of that batch of xVVS locked? Or will the current lock end date not be impacted by the boost?
You can choose to boost your farm later and it will not impact your xVVS locked duration - If my vault expires after the preset locking duration and xVVS still remains in the vault, can I still enjoy the boost?
Yes, as long as your xVVS remain in the vault. The vault boost rewards will be inapplicable once you perform a withdrawal of your xVVS. - If I have boost my farms and intend to unstake all my xVVS vaults, what will happen to my boost? You will not enjoy the boost APR% when you unstake all your xVVS vaults.
- What will happen to my NFTs which i use to boost my farms when i unstake all my xVVS vaults? You will need to unstake your NFTs from your boosted farms before you unstake all your xVVS vaults.
- Why will my Boost APR and Boost factor change after some time?
As the boost APR and boost factor is dependent on your boosted LP Share (Shown in Boosting multiplier calculation above), the higher your adjusted LP share in the farm, the higher your boosted APR and boost factor will be. Vice versa for the opposite scenario. If your adjusted LP share in the farm is lower, your boosted APR and boost factor will also be lower
To learn more, please go to our VVS Finance Gitbook for more information and step-by-step tutorial.
Happy Farming!
