πŸ’ŽStaked Positions (spNFT)

What are staked position NFTs (spNFTs)? All Hercules LPs are granted the ability to wrap their staked positions. When these staked positions are wrapped, an β€œspNFT” is automatically minted. This newly minted spNFT acts as a type of β€œdeposit receipt” confirming the user’s new staking position in the corresponding NFT pool contract. Because the spNFT doubles as the official deposit receipt for the pool contract, users MUST use their spNFT to withdraw their corresponding funds. In other words, the owner of the spNFT is also the owner of the corresponding LP rewards.

The most exciting thing about spNFTs is that they are more than just deposit receipts. spNFTs replace and innovate beyond the traditional farming system of other DeFi protocols by earning you trading fees and farm incentives, while also granting you access to a plethora of other yield reward campaigns within the Hercules ecosystem!

Every staked position (spNFT) has the following basic information:

  • A unique ID

  • A deposit LP token

  • A deposit LP token amount

  • An APY

  • Optional lock settings (duration, start/end time)

  • Multipliers information

Ways to manage your spNFT

spNFT configuration options:

  • Basic utilities (deposit, withdraw, harvest)

  • Adjusting locks

  • Boost and un-boost staked positions (spNFT)

  • Transfer your staked position to another wallet address

  • Split staked position

  • Merge staked positions

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