Thread by @TexGPo93

So, you want to be a big player that is part of Curve and Convex on Ethereum, but don’t want to pay high gas fees. Look no further, a small thread on how LiquidDriver will utilize the gauge system of SpiritSwap, just like Convex utilizes the gauge system of Curve. #LQDR #SPIRIT

Just like veCRV holders control the emission for #CRV, inSPIRIT holders control the emission for #SPIRIT. Currently inSPIRIT holder can only vote on 3 different pools 👇. But soon SpiritSwap will move all farms to gauges, thereby transitioning into a gauge system like Curve.

In the meantime LiquidDriver has been accumulating inSPIRIT in the form of linSPIRIT, a liquid form of inSPIRIT. They already accumulated more then 10M inSPIRIT and with the proposal LIP-003 passing, LiquidDriver could acquire an additional 3M inSPIRIT per month. That's insane!

But why does this all matter? If LiquidDriver becomes the largest holder of inSPIRIT then they can redirect the majority of the SPIRIT emission to their own farms. Resulting in increased APR for the LQDR farms on SpiritSwap and more revenue for xLQDR holders.

And what is this xLQDR you are talking about? You can lock your LQDR for a specific amount of time and receive xLQDR. Holders of xLQDR receive revenue generated by the different vault strategies implemented by the protocol. Therefore, higher TVL == more revenue == higher APR.💸💸

Currently around 1.7M LQDR has been locked-up for an average of 616 days🔒🔒. This 1.7M is roughly 35% of the total supply, meaning that 35% of the total supply can’t be sold when the price of LQDR goes up or down.

I do want to point out some risks. The success of LQDR depends partially on how well SpiritSwap can implement the gauge system. Additionally, LQDR is limited to the growth of the Fantom ecosystem. Although Fantom has a great ecosystem it isn’t as well established as Ethereum.🤔

Nonetheless, I think that @LiquidDriver is setting itself up to become the Convex of the Fantom ecosystem and I’m looking forward to the full implementation of @Spirit_Swap gauge system and how LiquidDriver utilizes this. DYOR and no APE.🦧

Small correction. Actually 60% op the the total supply is locked as xLQDR instead of the 35%! So 60% of the total supply is locked, really cool!