Tarot is excited to announce a new strategic partnership with SpiritSwap, starting with support for SpiritSwap’s boosted farms in the Tarot Protocol. Since inception, Tarot has been deeply integrated with SpiritSwap, bringing significant liquidity to SpiritSwap through leveraged yield farming and generating deep protocol-owned liquidity for our own FTM-TAROT pair.
SpiritSwap has nearly completed their full migration to boosted farms. Emissions of SPIRIT rewards are directed to boosted farms based on the inSPIRIT voting weight they receive. In long-term alignment with SpiritSwap, Tarot is committed to establishing itself as one of the major holders of protocol-locked inSPIRIT.
Boosted Lending Pools
Initially, 16 new Spirit Boosted pools have been created.
Tarot users can migrate their supplied tokens and LP collateral to these new lending pools. These pools include:
FTM-TAROT
FTM-SPIRIT
MIM-wMEMO
FTM-ETH
FTM-USDC
FTM-CRV
FTM-MIM
FTM-DAI
FTM-YFI
FTM-ICE
FTM-SPELL
FTM-LINK
FTM-fUSDT
FTM-MAI
FTM-BTC
FTM-SUSHI
A Tarot DAO governance proposal will be introduced to add Spirit Boosted lending pools to the Tarot Farming Rewards program.
Reward Allocation
The SPIRIT rewards emitted to Spirit Boosted lending pools are allocated as follows:
- 84.15% → Auto-compounded into additional LP tokens
- 15% → Locked as inSPIRIT in the Tarot Protocol
- 0.85% → Reinvest bounty
Unique among Tarot’s lending pools, Spirit Boosted pools enjoy several benefits from protocol-locked inSPIRIT:
- Boosted reward APRs (up to 2.5x boost)
- Enact governance (voting on SpiritSwap’s farm weights)
- Earn SpiritSwap protocol fees (inSPIRIT fee distribution)
All SPIRIT rewards earned by Spirit LP collateral in Spirit Boosted pools are automatically boosted by the inSPIRIT locked in the Tarot Protocol. As more and more inSPIRIT is locked in the Tarot Protocol, all Tarot users will benefit from the boosted SPIRIT rewards (without the need to lock SPIRIT themselves). These rewards are automatically compounded into additional LP tokens and deposited in boosted farms to earn additional rewards.
Importantly, the boosting mechanism for inSPIRIT locked in the Tarot Protocol is shared across all Spirit Boosted pools. This means Tarot users who deposit LP tokens in any of these lending pools will benefit from the combined inSPIRIT boosting power!
Every week, inSPIRIT holders can vote on upcoming SpiritSwap farm weights. The initial voting strategy for inSPIRIT locked in the Tarot Protocol will direct emissions to the FTM-TAROT pool. This simple voting strategy will serve to increase SPIRIT rewards for all LPs in the SpiritSwap FTM-TAROT boosted farm.
Finally, 100% of the weekly SPIRIT distribution to the inSPIRIT held by the Tarot Protocol will be continuously locked for the maximum duration.
Spirit Boosted lending pools are the first step in Tarot’s overall strategy for accumulating protocol-locked inSPIRIT, with other novel developments to come.
Join us and discover the best yields in DeFi:
- Website: https://tarot.to/
- Discord: https://discord.gg/6ByFHBjqE8
- Twitter: https://twitter.com/TarotFinance
