MinMax
  • Introduction
  • Risk
  • Getting Started
    • Connecting Metamask to IoTeX
    • Tutorial: 1- Swapping Tokens
    • Tutorial: 2-Swapping Tokens
    • Tutorial: Providing Liquidity
    • Tutorial: Withdrawing Liquidity
    • Tutorial: Farming
  • How to Bridge to IoTeX
  • Fundamentals
    • Tokenomics MAX
    • Contract Address
  • Protocol Governance
    • MAX Staked/Locked for veMAX
    • Increasing Lock Amount and Duration
    • Boosting APR with veMAX
    • Boost Calculator
    • Gauge Voting
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  1. Protocol Governance

Boosting APR with veMAX

The APR boosting effects of locking MAX for veMAX on MinMAX Finance

PreviousIncreasing Lock Amount and DurationNextBoost Calculator

Last updated 3 years ago

Locked MAX grants accounts the ability to receive boosted APRs on LP used to farm further MAX. This boost can be anything up to 2.5x depending on vote distribution across gauges and the composition of the farming contract (total liquidity, an accounts portion of it and their relative veMAX holdings).

Voting power applies to all gauges but may produce different boosts based on how much liquidity is provided and how much total liquidity the pool contains. In order to provide clarity for users, on adding LP to a farming contract the staking UI will display their current boost, while mouse hovering over this figure will display the number of additional veMAX that needs to be acquired in order to attain the maximum boost.

The variable boost available means that each farming contract also possesses a variable APR. Accounts that have deposited LP but possess no veMAX receive the lowest figure in the range and those that have deposited LP and attained the maximum boost receive the highest. If an account wishes to increase their APR up to the maximum while all other conditions remain the same, it is necessary to lock further MAX or increase the length of time they are locked.

Note: It is necessary to interact with the farming contract after increasing one's supply of veMAX for the improved APR to be recognized by the system. This can be done through depositing, withdrawing or claiming from the contract.