Staking
RaiseBSC Protocol
How does it function?
Each RaiseBSC LP possesses its distinct staking positions, often referred to as spNFTs (non-fungible tokens), which users can generate by wrapping LP tokens, essentially depositing them into the relevant contract.
When an individual creates a staking position, the deposited assets are transferred to a corresponding NFTPool contract in exchange for an spNFT. This spNFT can be likened to a deposit receipt, serving as proof of ownership for the deposited funds.
Remarkably, these receipts hold exclusive authority over the withdrawal of the associated funds, regardless of the user accessing them. Consequently, the holder of an spNFT is also the legitimate possessor of the corresponding LP tokens, even if they didn't initiate the original deposit.
However, spNFTs transcend the realm of mere receipts. They supersede conventional yield-generating farms frequently encountered in various DeFi protocols. Moreover, spNFTs expand their role beyond yield generation, functioning as an extra layer replete with a plethora of possibilities and potential extensions.
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