Total Value Locked (TVL) measures the total value of invested assets in a protocol at a current time. Single Finance Protocol consists of four components: Strategies, Leveraged Yield Farming, Locked Staking, and Lending Pool.
- Total value of deposited LP tokens (Pseudo Market-Neutral Strategy, Leveraged Short/Long Strategy and Leveraged Yield Farming)
- Locked tokens and LP tokens in the Locked Staking Pool
- Assets that are not borrowed in the Lending Pool
Users can choose to supply any combination of the two assets in a liquidity pool. Our protocol will then optimally add the supplied assets and borrowed assets to the liquidity pool of the corresponding supported DEX/AMM. Users can also choose to borrow either one, or both, of the two assets in a farming pair in a single leveraged yield farming position, which is rarely supported in other DeFi protocols.
The displayed leverage level is the maximum leverage level, with which users can open a new position. It could be lower than the actual Work Factor in the contract, as the difference in leverage levels would serve as buffer.
For APY, the compounding frequency is assumed daily.
- Auto-harvest APY = Trading Fees APY + Yield Farming APY + SINGLE Rewards APR - Borrowing Interest Rate
- Manual-Harvest APY= Trading Fees APY + Yield Farming APR + SINGLE Rewards APR - Borrowing Interest Rate
DEXes charge transaction fees for each trade; a portion of the transaction fees will be redistributed to Liquidity Pool as LP Reward fee.
- VVS, for each swap a 0.30% fee is charged, with
- 0.20% to LP token Hodlers
- 0.10% to the VVS Treasury
- MMF, for each swap a 0.17% fee is charged, with
- 0.10% to liquidity providers
- 0.05% to buyback MMF and CRO to form protocol owned liquidity
- 0.02% to the MMF Treasury
- SpookySwap, for each swap a 0.20% fee (0.22% for limit orders) is charged, with
- 0.17% to liquidity providers
- 0.03% to xBOO Stakers
Single Finance helps users stake their LP tokens and earn Reward Tokens on DEXes. Each farm has its own APR, depending on the value of LP tokens, reward multiplier, and price of Reward Tokens.
There are two types of yield rewards:
- Auto-harvest and auto-compounding the DEX yield
- The frequency of auto-compounding is not predetermined. It occurs every time a user interacts with the pool (which could be quite frequent).
- Given the high frequency of auto-compounding, farming yield APY is calculated using a continuous compounding formula.
- Manual-harvest the yield by users
SINGLE rewards are distributed to farmers based on the size of their individual borrowed assets relative to total borrowed assets. APR is calculated based on the total value of SINGLE rewards distributed per block divided by the equity value.
Borrowing Reward APR formula for borrowing tokens. T1 means current time.
The borrow function swaps an asset from the lending pool to LP tokens. It creates a Debt Value which accumulates interest according to the Borrowing Rate of the asset. The amount borrowed must be less than the maximum borrowing limit, which is based on the maximum leverage and the vault's available assets.
It refers to the net equity value change due to changes in asset prices in the liquidity pool, compared to your principal. It might be positive or negative, depending on token price fluctuations and trading fee rewards in the pool. (Further illustration on Price Effect)
Price Impact is the influence of user's individual trade over the market price of an underlying asset pair. It is directly correlated with the amount of liquidity in the liquidity pool of DEXes / Automated Market Makers (AMMs). Price Impact can be especially high for illiquid markets / pairs, and may cause a trader to lose a significant portion of their funds after the swapping. (Further illustration on Price Impact)
Supplied assets earn interest. User can earn lending interest simply by holding ibTokens. The lending interest rate is derived from the borrowing interest rate and the utilization of the pool. We use a triple-slope interest model to optimize the borrowing rate. Please find the detail here.
- The number of supplied tokens in the vault
- The number of borrowed tokens in the vault
- The supplied APY shown is the sum of Lending APY, Staking APR and Protocol APR.
- Lending APR is the annualized lending interest rate, charged and compounded every second.
- You can earn extra SINGLE by staking your ibTokens to our vaults thru Lending page.
- The APR is based on the value of the single rewards given out per block, divided by the total value of the ibTokens that are staked.
ibTokens Staking APR formula. T1 means current time.