Hi HODLers,
If you have followed my latest moves in the DeFi World. You know that I have been farming on the Fantom Network and especially on SpiritSwap and their wrapped governance tokens winSpirit.
If you ask yourself: "What is SpiritSwap?" PLease take some time to check out my article here: SpiritSwap Tokenomics deep dive.
My favorite being rainSpirit from Ola.Finance. You might ask yourself how do we get so high APR? There must be a catch!
We get such a high APR thanks to bribes that other protocols are willing to exchange against our votes for their pools being incentivized!
More information in this article Did last week SPIRIT bribes just yield me a net c.5%?
Let's look at the current warchest of Ola.Finance
As they get paid their bribes they collect them and then launch different pools where we can stake our tokens to get these juicy APRs.
Therefore, it is important to check that these bribes are coming and that the war chest is still big.
And spoiler alert.... it is!
They currently have more than $110k in bribes waiting to be distributed to us rainSpirit stakers!
As a rule of thumb, they usually give $15-18k rewards per week and it yields a c.200% APR. They basically have close to 6-7 weeks of rewards in the bank!
Which staking pools do we have this week?
Lots of options this week. I decided to stay in the rainSpirit pool as I still think the discount to Spirit is completely stupid. We have been stabilizing at 1 $rainSpirit = 0.57 $Spirit.
Clerly not a PEG yet but getting closer and closer.
Stay safe out there...
