Boosting your yield farming rewards
Although you can use Degenbox is a similar way as borrow / leveraged positions, please note they do work in slightly different ways.
- 1.Degenbox auto-compounds, while our borrow feature does not, unless its an interesting-bearing token that already captures the auto-compounding rewards itself. Example: mooToken from Beefy Finance already wraps autocompound farming rewards.
- 2.Degenbox uses 70% of the underlying tokens to farming pool. In the case of FTM-USDC SLP (SLP stands for Spookyswap LP token), 70% of the deposited SLP tokens are sent to the Spookyswap FTM-USDC farming pool and the received BOO tokens are swapped into SLP and auto-compounds.
- 3.30% of the remaining SLP tokens are collateral buffer and can be withdrawn anytime. In case of a single large withdraw is required, please let the team know in our discord: https://discord.gg/spartacadabra
- 4.Other than the above mentioned mechanisms are different than a regular borrow pool, the ways to interact with a Degenbox strategy are same with borrow / leveraged position.
Deposit FTM-USDC SLP (Spookyswap LP) to lever up your
Should you have any questions, please let us know in discord: https://discord.gg/spartacadabra