Features of spNFTs

Each staked position (spNFT) is equipped with essential details, including:

  • A unique ID

  • The LP token used for the deposit

  • The number of LP tokens deposited

  • An Annual Percentage Yield (APY)

  • Options to set lock parameters such as duration and start/end times.

  • Information about multipliers

Here's an outline of the available interactions for spNFT owners:

  1. Deposit: Add more tokens to the position. If the position is locked, the lock duration resets.

  2. Withdraw: Remove tokens from the position. If the position is emptied, the spNFT is automatically burned. Not applicable when locked.

  3. Harvest: Collect pending rewards from the position, specifically when yield incentives are assigned to the position's LP token.

  4. Lock: Apply a lock to an unlocked position for a defined period.

  5. Extend: If already locked, extend or renew the lock duration.

  6. Transfer: Transfer the position to another address.

  7. Split: Divide the position into two, sharing the original amount. If the initial position is locked, the new one inherits the same settings.

  8. Merge: Combine positions, adopting the longest lock duration and farthest end lock time.

Locks: When creating a position, a lock duration can be specified, restricting withdrawals until the lock's end. Wrapped Camelot LPs have their individual lock settings, encompassing maximum lock duration and corresponding max lock multiplier. A lock offers a yield boost based on this multiplier when the position's LP receives incentives. It can also be a prerequisite for staking on a Nitro Pool. This bonus is linearly computed in proportion to the lock's duration and max lock multiplier.

Future Control and APY: The intention is to eventually delegate control over lock settings and their associated multipliers to LP protocols. This process, however, will be overseen by DAO governance.

Ultimately, every yield-bearing spNFT will possess its own APY, influenced by the Master's allocation to the wrapped LP, the lock multiplier, and the YieldBooster multiplier.

Last updated