spNFT

How can I view spNFTs?

spNFTs are staked positions resembling tech aspects rather than a visual aspect. A position is essentially created as an spNFT once it is created, it is a single asset or LP that is transformed into an spNFT

What is spNFT?

In simple terms, a wrapped LP is converted into an spNFT, enabling more advanced farming options compared to traditional LP farming. This includes features such as depositing into nitros, time-locking, and much more

What is the purpose of creating an LP position?

By creating an LP from a combined asset, you're adding liquidity to the protocol. This position then transforms into a staked position (spNFT), functioning similarly to staking your positions in a yield farm. The staked position can be locked, managed in various ways, yield-boosted with , and deposited into a Nitro pool for enhanced rewards

What distinguishes a yield-bearing position from a non-yield-bearing one?

A position becomes yield-bearing and automatically accrues yield if it corresponds to an incentivized pair on IgniteFi. Non-yield-bearing positions, on the other hand, can be leveraged by anyone and are directly rewarded through Nitro

What differentiates stable pairs from volatile pairs?

Stable pairs consist of stablecoins and aim to maintain a consistent price. Volatile pairs, however, are composed of assets whose values may fluctuate

What does the default reward setting of 80% xIGN and 20% IGN in the Pools tab mean?

This means that you will receive 80% of your rewards in xIGN and 20% in IGN

How can I maximize my position's APR?

Maximizing your yield can be achieved through a combination of locking, yield boosting, and participation in the Nitro pool For a more comprehensive explanation, please refer to the associated document

What should I do to withdraw my funds from the protocol?

To withdraw your funds, withdraw your staked position, then unbind the LP token

What advantages does locking my position offer?

Locking a yield-bearing position provides bonus rewards proportional to the lock duration. Each incentivized pair has a specific configuration regarding this aspect

Will locking my position (spNFT) also lock my pending rewards?

No, your rewards are not locked. You can harvest them at any time

Can I renew my locked position whenever I wish?

Yes, you can renew your locked position at any time, provided the new lock duration matches or exceeds the remaining duration of the existing lock

Can I transfer my position to another person's address using the transfer function?

Yes, transferring your position to another address will make that address the new owner of the position

What is the function of the split feature?

The split feature allows you to divide a position while preserving the original settings, such as lock duration

Why would I lock my position for more than six months if the maximum lock bonus is already achieved within this period?

The maximum lock bonus is indeed obtained when setting the lock for six months, but other protocols may incentivize longer lock durations through Nitro pools

What is the purpose of transforming a single asset into a staked position when there are no pools to earn yield from?

Depending on the Nitro pool, only single asset spNFT may need to be staked