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Boosting
Beluga farms are different from other DEXes on Solana in that they have a boosting mechanism similar to curve.fi but with a little tweak.
Beluga delivers its native token BELA through three different pools for liquidity mining:
- Base Pool
- Boosting Pool
- BELA-USDC Pool (Pool 2)
The Base Pool issues BELA tokens to a deposit at an amount that is positively proportional to its share of the aggregate deposit. The token emission for a deposit in the base pool is defined as:
Depositors can receive additional BELA tokens from the Boosting Pool by staking BELA tokens. The Boosting Pool serves multiple purposes:
- To incentivize BELA tokens purchase
- To encourage long-term staking
- To make farming TVL directly related to staked token
The Boosting Pool utilizes an additional token, voting escrow BELA (veBELA), inspired by voting escrow CRV (veCRV) of Curve Finance. How does it work? Have a look at the below veBELA attributes :
- 1 staked BELA generates 0.014 veBELA every hour
- Maximum veBELA held with a deposit equals to 100 times BELA staked for the deposit
- Upon unstaking BELA, veBELA drops to 0
- veBELA is non-transferable and non-tradeable due to the design of the smart contract, i.e. veBELA token will be locked in the private wallet of the user
The weight function and number of BELA token emission for the boosting pool is defined as:
The total BELA emission in the pool is based on team discretion or governance voting, and is independent of the size of the pool.
Summing up the previous conclusions, the total APR will be defined as:
Last modified 1yr ago