spNFT

Flack Exchange FAQ: Understanding spNFTs

Understanding and Utilizing spNFTs

How can I view spNFTs?

  • Nature of spNFTs: They are staked positions with a focus on technical functionality rather than a visual aspect. Upon creation, a single asset or LP is transformed into an spNFT.

What is spNFT?

  • Advanced Farming Options: A wrapped LP converted into an spNFT, enabling features like Nitro pool deposits, time-locking, and more.

Purpose of Creating an LP Position

  • Liquidity Addition: It adds liquidity to the protocol, transforming into a staked position (spNFT) for various management and yield-boosting options.

Yield-bearing vs. Non-Yield-bearing Positions

  • Incentivized Pairs: Yield-bearing positions accrue yield automatically if linked to an incentivized pair on Flack Exchange.

Stable vs. Volatile Pairs

  • Stability vs. Fluctuation: Stable pairs involve stablecoins with consistent prices, whereas volatile pairs include fluctuating assets.

Default Reward Setting (80% xFLACK and 20% FLACK)

  • Reward Distribution: This ratio indicates the composition of rewards received from participating in pools.

Maximizing Position's APR

  • Combination Strategy: Utilize locking, yield boosting, and Nitro pool participation for optimal yield.

Withdrawing Funds from Flack Exchange

  • Withdrawal Process: Detailed instructions for fund withdrawal (to be added).

Advantages of Locking Positions

  • Bonus Rewards: Longer lock durations yield proportional bonus rewards.

Lock Status of Pending Rewards

  • Harvest Flexibility: Rewards can be harvested anytime, independent of the lock status of the position.

Renewing Locked Positions

  • Renewal Option: Allowed anytime, with new lock duration requirements.

Transferring Positions

  • Ownership Transfer: The 'transfer' function enables the transfer of position ownership to another address.

Function of the Split Feature

  • Division of Positions: Allows dividing a position while maintaining original lock settings.

Lock Duration Beyond Six Months

  • Protocol Incentives: Some protocols via Nitro pools may incentivize longer lock durations.

Transforming a Single Asset into an spNFT

  • Strategic Staking: In certain Nitro pools, staking a single asset spNFT may be required.

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