Growth DeFi enters the Spirit Wars!
In this article we explain Growth DeFi’s first foray into the ‘Spirit Wars’ on SpiritSwap, and outline how our amazing community can both support this process to enhance our profile on Fantom, and of course benefit directly.
What is SpiritSwap and inSPIRIT?
SpiritSwap is a DEX and an AMM on the Fantom blockchain.
The native token is SPIRIT, which can be earned by farming on the protocol. The SPIRIT token can then be locked for a specified period of time (up to 4 years) for inSPIRIT.
inSPIRIT is the governance token of SpiritSwap. It offer users benefits such boosted farming rewards and can be used to vote for on-farm emission allocations. These votes take place weekly and drive yields in a similar fashion to veCRV (Curve Finance).
Users vote with their inSPIRIT on gauges to earn rewards, and we are pleased to advise that GRO-WFTM has now been added to the gauges on SpiritSwap.
These gauges decide the amount of SPIRIT rewards that will be allocated to each farm pool. Basically, it drives yields to the pools with the most inSPIRIT votes. All these gauges are weighted and, depending on the allocated votes, the yield gets driven to certain pools.
We therefore want to encourage people who hold inSPIRIT to vote for GRO-WFTM rather than another gauge. So how can we do this? Bribery!
A Bribe for inSPIRIT Holders
Growth DeFi is offering $5,000 worth of GRO tokens as a bribe for inSPIRIT holders who vote on our newly added GRO-FTM gauge.
This means all inSPIRIT voters who do so will receive a share of these GRO tokens at the end of one week.
How Do I Do This?
Follow this step-by-step process:
- You need to buy SPIRIT tokens (on SpiritSwap) and convert them to inSPIRIT here: https://inspirit.spiritswap.finance/
- On this same page, scroll down a little to where it says ‘Vote to boost your farm’
- In the search box type ‘GRO’ and you will see ‘GRO-WFTM LP’ appears
- Now type 100 (i.e. 100%) and click vote.
You have now used your inSPIRIT tokens to vote for GRO-WFTM and therefore will be eligible to receive your percentage share of the rewards.
inSPIRIT voters will need to keep their vote effective on the GRO-FTM gauge until the current distribution block ends, which is at 4PM PST Wednesday the 16th of March.
NOTE** if you change your vote before 4PM PST Wednesday the 16th of March, you will not be counted in the bribe.