Innovation never stops at Bolide, and we’re constantly working on new features and token utilities for our users, and this time is no different. Our new offer – Boosting 2.0, means you can now increase your vault APY by depositing BLID – the more you deposit, the higher APY you’ll get!
So, what is Boosting 2.0, and how does it work? Read on to find out more!
How we boost yields and APYs
With our intelligent automated strategies working in the background, we convert all our earnings into BLID and pay APYs to depositors. APY Boosting v1 was applied by default, whereas with Boosting v2, your APYs are directly connected to the size of the BLID deposited in addition to your initial vault deposit. The more you deposit, the higher the APY percentage. Ultimately, the more BLID used for APY boosting means, the less BLID out in the free market, leading to a possible increase in the price of the token and the value of your earned yield.
Comparing V1 and V2
Let’s break down the benefits for both Bolide and the end user.
Benefits for end users
– Higher APYs mean a higher yield and more passive income. Maximizing DeFi’s potential while keeping risks at a minimum.
– Introducing additional utility features. The more utility a token has, the more valuable it becomes for the token holders and the protocol itself.
Benefits for Bolide
– We forecast more users opting in for Boosting v2 and using BLID tokens, with that the demand for BLID will grow, leading to more tokens being locked and taken out of circulation.
– It will increase the protocol’s TVL and strengthen Bolide’s strategies.
– Finally, we expect this update to positively impact the BLID token price.
V1 versus V2: A quick comparison
– V1 provided a fixed 2% APY, whereas with Boosting v2 feature, we aim to incentivize BLID holders with higher APYs on their deposits.
Calculating boosted APYs
-Our dynamic, variable APYs recalculated daily based on BLID’s token price. Essentially, this is a modified version of Pancakeswap’s Masterchief v2, where we also tackled the unpredictable BLID debt issue.
Check out our Docs for a simple step-by-step guide!