Staking BOO

Single Stake Pools

Single-stake pools is where only one type of token is needed to stake. No LP token-making is required, but the concept is similar to making a liquidity token (LP), and staking that LP in a farm to earn other tokens.

By staking BOO, you immediately receive xBOO tokens as proof, which you can stake in partner pools to earn other tokens.

In short, the cycle looks like this: Buy/Farm BOOs -> Stake BOO in xBOO/buyback pool, receive xBOO as receipt -> Stake xBOO in pools to earn other protocols' token -> Provide LP in the partner protocol's farm to earn more BOOs -> Repeat

BuyBack BOO Single Stake Pools

You can stake your BOOs to earn more BOOs. When you do so, you will receive a buyback BOO token, xBOO, to represent your share in the pool. xBOO operates similarly to xSUSHI and earns a percentage of trade fees to buy back BOO. Your balance of xBOO won't changed, but the ratio of xBOO to BOO will infinitely grow over time as it buys more BOO.

With the xBOO you, you can stake to earn other tokens in the pool list. The xBOO tokens that you've staked will continue to participate in the Buyback Pool and earn BOOs. When you stake your BOOs into xBOO and then into a pool listed, you are earning a sum of the APRs!

The UI on the website updates the xBOO ratio once a day at random times.

For example:

User A is the first to deposit in the buyback pool, they deposit 10 BOO and receive 10 xBOO as the initial ratio is 1:1

Next, trade fees are used to buyback BOO and sent to the xBOO pool, now there is 20 BOO. Since there are 20 BOO in the contract and 10 xBOO is the total supply, the ratio is now 1 xBOO : 2 BOO and User A can redeem his/her 10 xBOO for the 20 BOO at any time, based on that ratio. But, let’s say they don’t do that.

Now, User B deposits 10 BOO to the pool and since the ratio is now 1 : 2, they get half of their deposit as xBOO, which would be 5 xBOO. Now the total pool is 30 BOO and total supply of xBOO is 15 (maintaining the ratio).

The ratio only changes as Fees are used to buyback BOO which is then sent to the pool and split equally among all xBOO holders, because each xBOO becomes worth more BOO (the share of BOO went up).