Liquid Driver to be the second protocol integrating with SpiritSwap’s winSPIRIT model. Introducing — LiquidSpirit aka “linSPIRIT”!

What is winSPIRIT?

winSPIRIT is the wrapped version of inSPIRIT that autofarms and protocols can create to incentivize their accumulation of inSPIRIT. A protocol has an interest in accumulating inSPIRIT in order to increase the APR of their SpiritSwap boosted farm vaults.

Holding inSPIRIT enables the vaults to get the max boost of 2.5x for the boosted farms on SpiritSwap.

With this in mind, it only made sense for Liquid Driver to incorporate this model into their vaults in order to maximize yields for their users and take full advantage of SpiritSwap’s inSPIRIT design.

How does Liquid Driver fall into the fold?

With the main objective being to optimize yields for xLQDR, the team have devised a plan that will take rewards to another level. By implementing linSPIRIT, users will be able to swap their SPIRIT for linSPIRIT at a 1:1 ratio using Liquid Driver’s “LiquidSwapper”. In order to trade their linSPIRIT back to SPIRIT, users will be able to facilitate this via SpiriSwap.

linSPIRIT is designed to unlock holders’ positions by opening up a whole new market for linSPIRIT, while still being able to enjoy weekly volume based fees from inSPIRIT.

When users swap SPIRIT for linSPIRIT, Liquid Driver will lock that SPIRIT away in perpetuity, which is ultimately beneficial for SPIRIT and inSPIRIT holders as that results in SPIRIT being taken out of circulation forever.

With that SPIRIT locked away and converted to inSPIRIT the Liquid Driver team can then use said inSPIRIT to boost yields for the SPIRIT-FTM, wETH-FTM and wBTC-FTM pairs, thus increasing yields for xLQDR holders.

In addition to driving more revenue for xLQDR holders, the other benefit is holding a liquid inSPIRIT position.

With everything said and done, the SpiritSwap team is thrilled to see the adoption of the inSPIRIT model increasing across protocols. Liquid Driver was one of the early adopters to recognize the benefits of its utility and the ability to pass this on to their users. Ultimately this is SpiritSwap’s development ethos manifesting itself and coming to life in a tangible manner. This ethos being, rather than competing, let’s build layers on top of one and other, leveraging each product’s unique qualities that ultimately results in everybody benefiting from this.

We would like to thank the very talented Liquid Driver team once again for working with us on this collaboration and look forward to exploring more opportunities to continue our working relationship.

Cheers,
Spirit Team

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SpiritSwap

SpiritSwap

A native DEX for the Fantom blockchain. Trading, staking, farming, and more to come!