Spiritswap
Spiritswap inSPIRIT: choosing a first lock
SpiritSwap’s inSPIRIT is a non-transferable governance token obtained by locking SPIRIT on Fantom Opera. Locking connects voting rights with fee sharing and eligible farm boosts, while committing the underlying SPIRIT until expiry.
Last updated- Lock duration
- From 1 month to 4 years in the SpiritSwap v3 documentation. Longer locks grant more initial inSPIRIT for the same SPIRIT amount.
- Balance over time
- inSPIRIT decreases as the lock approaches expiry and reaches zero when the term ends.
- Withdrawal point
- The holder can withdraw the underlying SPIRIT when the lock expires.
- Maximum farm boost
- Up to 2.5x the unboosted SPIRIT farming reward on boosted farms. The actual boost depends on the user’s farm deposit, total deposits in that farm and the user’s share of total inSPIRIT.
What does a longer lock change?
For the same SPIRIT amount, a longer lock gives more initial voting weight and delays access to the underlying SPIRIT. The inSPIRIT lock model ties that weight to the remaining commitment, so the starting balance is temporary.
A declining inSPIRIT balance can reflect the approaching expiry while the SPIRIT remains locked. The resulting wallet balance shows the governance position; the chosen end date determines when withdrawal becomes available.
Which decisions can holders influence?
Holders can vote on DAO proposals concerning changes to SpiritSwap, while gauge votes assign relative farm-emission weights for weekly epochs.
Gauge participation can also carry protocol-driven incentives called bribes, separate from the swap fees that the relevant pool generates.
What determines the farm boost?
Farm boosting requires both an inSPIRIT holding and a deposited position in a boosted farm. The boost applies to that position’s SPIRIT farming rewards.
The documented farm-boost calculation relates the holder’s inSPIRIT share to the position’s share of deposits in that farm. A larger farm deposit can require more inSPIRIT to maintain the same boost, with other inputs unchanged.
SpiritSwap’s yield-farming guide identifies a personal APR, boost factor and inSPIRIT amount needed to increase the boost. Those position-specific figures distinguish the attainable boost from the 2.5x ceiling.
Which fees can an inSPIRIT holder receive?
The V2 vAMM fee schedule reserves 25% of collected swap fees for the base distribution. That share funds SPIRIT buybacks for weekly distribution to inSPIRIT holders.
A separate 50% share pays only holders who voted on the relevant gauge. Each voter’s allocation follows their inSPIRIT voting weight relative to the total weight directed to that gauge. V2 distributes these vote fees as the relevant pool’s LP tokens.
The documented V2 stable-swap model instead assigns 50% of collected fees to the inSPIRIT base distribution. SpiritSwap v3’s Algebra dynamic-fee model allocates 7% of collected fees to inSPIRIT holders.
Each allocation divides the trading fees that a pool collects, so it does not specify a return on locked SPIRIT.
What should a first session check?
- Enter the proposed SPIRIT amount and lock duration, then review the displayed inSPIRIT amount and unlock date before creating a lock. Stop at this review if the tokens must remain available sooner.
- If V2 vote fees motivate the lock, account for the separate requirement to vote on the relevant gauge.
- For a farming benefit, confirm that the position belongs to a boosted farm and assess its personal boost factor.