Boosted Rewards (Staking)
Last updated
Last updated
A key part of distributing ELE tokens to the Eleven Finance community is the inclusion of farming rewards for those using our platform. These rewards will run for a year from launch aiming to distribute 4,950,000 ELE over this time.
Vault users can complete an additional step to 'boost' rewards for specific vaults. These vaults are identified by the 'Boosted' tag. This will allow users to not only earn great yield in vaults but also earn some ELE tokens for free.
Weighting for the amount of $ELE rewards allocated to each 'Boosted' vault will vary. ELE LP's and ELE staking will be most incentivised.
The 'Boosted' incentives will keep rotating depending on promotions. The goal is to offer very attractive vaults to attract new users and TVL while still maintaining a healthy ecosystem for all ELE holders.
Once the Boosted promotion is over, your asset will keep compounding and earning the full APY% shown in the vault. You can leave the boosted section if you want, but it's not necessary.
PS: if you see a "Boosted" Vault with same APY before and after its because the base APY% is so high that the extra ELE is hard to notice. But it's there!
At present one third of all newly emitted ELE is sent to be burnt, further reducing inflationary pressure and the maximum supply of the ELE token.
Once you deposited to a vault, and the vault you are in is boosted, you can choose to stake your LPs or tokens to earn more rewards in form of ELE on top of your rewards you would normally get if the vault was not boosted (or you did not stake).
First, click the "Approve" button at the bottom left of your vault, and confirm the transaction in you wallet.
Once the transaction is confirmed on the blockchain, the "Approve" button will turn into a "Stake" button. Once this happens, simply click "Stake".
When you click on the "Stake" button, a pop up will show up asking you the amount you want to stake. As there is no disadvantage besides making one more transaction to staking, we encourage people to simply stake the whole amount.
After choosing how much you want to stake simply click "Stake", and confirm the transaction in your wallet. Your rewards will start showing up as soon as the transaction is confirmed.
And that is it! You are now earning rewards as you normally would plus the boosted rewards.
