Farms & Staking
Direct on SPOOKY.FI (SPOOKYSWAP) Go to TAB of FARMS & STAKING
The staking strategy of Jefe Token on SpookySwap revolves around the concept of liquidity farms and earning interest in BOO, the native token of the SpookySwap decentralized exchange.
To begin, in order to participate in Jefe Token's staking strategy, you need to have Jefe Token and FTM (the native cryptocurrency of the Fantom network) in your wallet. These tokens are stored on the SpookySwap platform to receive liquidity tokens in return.
Once you have deposited your Jefe Token and FTM tokens on the platform, you can choose a specific liquidity farm to deposit those tokens into. Liquidity farms are pools where tokens are provided in exchange for liquidity, and users who contribute their tokens to these pools earn rewards.
In this case, by depositing your Jefe Token and FTM tokens into a liquidity farm, you will receive specific liquidity tokens for that farm. These liquidity tokens represent your proportional stake in the pool and can be exchanged for other tokens on SpookySwap.
In addition to the rewards in liquidity tokens, you can also earn interest in BOO. The liquidity tokens you obtain by participating in the liquidity farms can be deposited in the staking section of SpookySwap to receive rewards in BOO. These rewards are generated as interest for holding your liquidity tokens locked in the staking.
The interest paid in BOO depends on various factors such as the amount of liquidity tokens you have deposited, the duration of the lock-up period, and the demand for liquidity on the platform. The longer you keep your liquidity tokens locked, the higher the BOO rewards you will receive.
Please note that the staking strategy on SpookySwap and earning interest in BOO involve certain risks. It is important to conduct your own research and understand the associated risks before participating in any investment or staking strategy.