Introducing: Argonauts Staking & Argo DeFi Vaults
Stake your Argonauts in the Argo DeFi Vaults for boosted APR, in partnership with VVS Finance
gm Argonauts! You’ve been waiting for this one…
Say it with me…
Argonauts Staking … has arrived 🔥
TL;DR goodness for you:
- Argo will be launching Argo DeFi Vaults in partnership with VVS Finance, which introduces NFT Staking!
- Argo DeFi Vaults will consist of ARGO-USDC and bCRO-CRO that allow for NFT stake boosting
- Users can stake Argonauts to earn boosted APR 🔥
- Users can stake up to 5 Argonauts NFTs into each farm
- Each Argonaut provides a 10% farm boost, regardless of the NFT’s rarity
- Max. boost factor for one farm will be 1.5x (50% boost), with 1.1x (10%) boost from each NFT.
- Boosted effect will be applied to the amount of $xARGO rewards received
- NFT stake boosting will replace Morale system
Argo DeFi Vaults & Argonauts Staking
Argo Finance will be launching the Argo DeFi Vaults in partnership with VVS Finance!
The Argo DeFi Vaults will include ARGO-USDC and bCRO-CRO farms which will be available for NFT boosting via Argonauts staking. You can stake maximum 5 Argonauts to either of each Argo farm to boost your APRs and earn more xARGO!
How to use Argo Defi Vaults and boost your farms?
- Access Argo DeFi Vaults directly from Argo’s DeFi Vault page or through VVS Farms
- Stake LP tokens to ARGO-USDC and/or bCRO-CRO farms
- Stake your Argonauts to your desired farms (Up to 5)
- Enjoy your boosted APR 🚀 🔥
How does boosting work?
For every Argonaut that is staked into a farm, it provides a 20% boost.
What does that mean?
1. A user has $1,000 worth of ARGO-USDC LP currently staked in ARGO-USDC farm
2. User stakes 2Argonauts, providing a 20% boost (1.2x)
3. The user’s ARGO-USDC LP value is adjusted to $1,000 * 1.2 = $1,200
4. Because of this boosted LP value, the user now has a greater share of rewards from the ARGO-USDC farm relative to other users = higher APR %
Thus, the more Argonauts you stake into a farm (max of 5 for 1.5x boost), the higher boost, and higher APR you’ll get.
Now of course, do be aware that if other people stake Argonauts as well, they too will experience a boost in LP value, which may thereby reduce the increase in APR you receive.
Ultimately, the boosted APR will shift over time as users stake/unstake their LP and Argonauts — but a user with staked Argonauts will always have higher APR than one without.
Do my Argoanuts stack across farms?
No they won’t. You can stake a max of 5 Argonauts per farm, but their boost will be applied to that farm only
Max number of Argonauts staked: 5 per farm
Boost per Argonaut: 10% (0.1x)
Boosted Reward: $xARGO
NFT Staking will replace Morale as the APR Boosting mechanism
Morale was initially introduced as a roadmap for DeFi Vaults boosting. With the introduction of Argonauts staking, the boosting mechanism will be pivoted away from Morale to Argonauts staking to optimise for user experience.
The team will continue to implement newer use cases to come for $xARGO which will gradually be implemented in Phase 3 and beyond.
Building towards Phase 3
With the ongoing journey to Atlantis, we’re now focused on bringing the start of a new paradigm for Argo and Argonauts with Phase 3.
Our team is now fully focused in our sprints on the development of Phase 3, which we truly envision to be extremely significant to the overall Argo & Argonauts ecosystem.