The simplest way to earn a passive income through DeFi is to deposit your cryptocurrency onto a platform or protocol that will pay you an APY (annual percentage yield) for it. With MetaPoo, you will receive more than normal yield, you will receive boosted rewards from our NFTs.
The Poo Series NFT is the 1st type of NFT in the MetaPoo ecosystem. NFTs from Poo Series will enable users to achieve a higher ROI when farming/staking on MetaPoo’s platform.
There will be Four types of Poo NFTs for a limited quantity, including Holy Sh!t, Norma Sh!t, Hardy Sh!t, and Loose Sh!t.
NFTs from Poo Series allow you to achieve much higher APR% on your liquidity positions. Users just need to stake them together with LP or single asset tokens to receive boosted rewards.
How does it work?
When the booster NFT is staked along with the LP tokens, it acts as a booster providing a percentage boost on the rewards earned from that pool or vault. The additional rewards from NFT boosting will be calculated by multiplying the booster NFT’s percentage boost with the total rewards earned from staking in that pool, as shown in the formula:
BoostedRewards = RewardsEarned ∗ PercentageBoostfromNFT
Let’s take an example of Alice:
- Let’s assume Alice owns a Holy Sh!t Booster NFT, which provides a 75% boost on the rewards earned from farming on a stablecoin-stablecoin pool
- After she provided liquidity to a liquidity pool (for example the BUSD-USDT pool), she staked her LP tokens, along with the Holy Sh!t Booster NFT.
- Normally without the NFT, after farming for 5 days, Alice has accrued based 1,000 $MTP rewards.
- However, as Alice also staked her Holy Sh!t Booster NFT along with her LP tokens, she will also receive additional 75% rewards = 750 $MTP rewards from her Holy Sh!t Booster NFTs.
- So, when Alice claimed her rewards, she will earn a total of 1,750 $MTP Tokens
But remember, each of the booster NFTs has maximum energy, meaning there is a maximum limit on the number of $MTP tokens you can receive from boosting with each NFT. Once the maximum energy for each NFT has been reached, it loses its boosting power and will no longer provide boosted rewards. You will need to un-stake the used NFT and re-stake with a new NFT to continue receiving the boosted rewards. Each Booster NFT can only be staked with one position at a time. You cannot stake multiple booster NFTs to the same position at the same time — meaning that you cannot stack the boost %.
The Boost Percentage and Maximum Energy for each Poo Series NFT are shown below:
Do your own research here:
If you have any more questions, tell us!
- Official Twitter: https://twitter.com/Metapoo_Solana
- Telegram Announcement Channel: https://t.me/metapooann
- Telegram Chat Group: https://t.me/meta_poo
