💳Staked Positions (spNFTs)

Novel mechanism for DeFi farming

Neutroswap uses a different liquidity approach based on non-fungible staked positions, dubbed spNFTs.

How does it work?

Users have the opportunity to mint staked positions NFT (spNFTs) by wrapping Neutroswap LP tokens, which involves depositing them into the respective contract.

This action transfers the deposit to a designated NFTPool contract, resulting in the issuance of spNFTs. Consider this NFT as a deposit receipt, confirming the ownership of the staked position.

The ownership of the spNFTs acts as the sole authorization for a user to withdraw the corresponding funds, irrespective of the entity utilizing them. Therefore, the owner of the spNFT is effectively the rightful owner of the associated LPs, even if they were not the initial depositor.

spNFTs go beyond being mere receipts; they serve as replacements for traditional yield-generating farms commonly found in DeFi protocols. Additionally, spNFTs provide an additional layer of features that unlock unlimited opportunities and potential extensions, offering a myriad of possibilities:

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