Staking BOO

Single Stake Pools

Single-stake pools are 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 then stake in partner pools to earn other tokens.

In short, the cycle looks like this:

Buy/Farm BOO → Stake BOO in xBOO/buyback pool (receive xBOO as receipt) → Stake xBOO in partner pools to earn other protocols’ tokens → Provide LP in the partner protocol’s farm to earn more BOO → Repeat

BuyBack BOO Single Stake Pools

You can stake your BOO to earn more BOO. 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 doesn’t change, but the ratio of xBOO to BOO grows over time as the pool buys more BOO.

With your xBOO, 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 BOO. When you stake your BOO 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.

Example

• User A deposits 10 BOO and receives 10 xBOO (initial ratio 1:1).
• Trade fees buy back BOO, and now the pool has 20 BOO. With 10 xBOO supply, the ratio is 1 xBOO : 2 BOO. User A can redeem 10 xBOO for 20 BOO at any time.
• User B deposits 10 BOO. With the ratio at 1:2, they receive 5 xBOO. Now the pool total is 30 BOO and the total supply of xBOO is 15 (ratio preserved).

The ratio only changes as fees are used to buy back BOO and are sent to the pool, increasing the value of each xBOO. Every holder benefits equally as their share of BOO per xBOO increases.