What is WRT, how do I use it and what are the benefits of Cardano DeFi? · Cardano feed

WRT is a native Cardano token on WingRiders DEX that offers multiple utilities including DAO voting to shape the future of the platform and increase farming yield growth for select farms.

Today, let’s detail all of these benefits across the Cardano ecosystem and how you can benefit from them through DEX.

WRT and Cardano yield farming

On WingRiders DEX, you may see a lightning bolt icon ⚡ every time you access the farming pages. This icon means you can use WRT to get extra boosting rewards.

The increase premiums for a farm are allocated to farmers based on their effective liquidity in appropriate liquidity pools, just like regular farming. The maximum amount of Boosting Rewards you are entitled to is the sum of those Rewards for all Farms you participate in.

Here you can explore all agricultural possibilities. If you access the farming section, you can see all the available farms. If you see a lightning bolt icon ⚡ for available boosts, it means you can get more rewards by using WRT.

As shown in the example above, the ADA/WRT farm increase in yield farming.

Currently, the maximum amount of Boosting Rewards you are entitled to depends on your deposits into Boosting Rewards Farms. The amount of rewards you can get from boosting depends on the number of WRTs you deposit into the boosting vault and is calculated using a curve function (see below). You can see this feature under the Boost/Manage button in the chart view. If you deposit more WRTs into the Boosting Vault than the amount that results in the maximum allowable Boosting Rewards, you will not receive more than that maximum amount.​

How to Increase Cardano Earnings Bounty with WRT (Step-by-Step)

1. Deposit liquidity into a liquidity pool Here.
To be eligible for farming rewards, you must contribute liquidity to a pool that a farm is a part of. You can tell if a liquidity pool has a farm by a tractor icon 🚜 next to it in the list of liquidity pools.
There are some pools with a lightning bolt in a circle symbol. These don’t have an associated farm on WingRiders, but you are instead entitled to more rewards on Indigo Protocol + Boosting Skills, just like in the case of the dedicated farm on WingRiders.

2. Go to Liquidity / Pools

3. Click on add liquidity at the selected pool. If the button is disabled, it means you don’t have the required tokens in your connected wallet to commit to the respective liquidity pool.

4. Select the number of tokens deposit into the pool.

5. Click on add liquidity.

6. Click Confirm.

7. Confirm this in your wallet that will open automatically.

8th. Wait for the transaction to complete. For depositing liquidity into the pool, you receive Liquidity Provider Tokens (LPTs).

9. Deposit LPTs on a farm: Go to Profit / Farming to view My Farms where you can deposit your LPTs.

10 Click Deposit. Alternatively you can deposit into Indigo which will take you to the Indigo Protocol where you can deposit your LPTs for more rewards.

11. Choose the number of LPTs deposit.

12. Click Confirm.

13. Confirm this in your wallet that will open automatically.

14 Wait for the transaction to complete. After your LPTs have been deposited for an entire epoch, you will receive WRT as a farm reward. In the case of double-yield farms, you also receive the farm’s other tokens.

15 Deposit WRTs into the Boosting Vault: Go to Profit / Farming.

16. In the top green highlighted section “Boosting Vault” Click the Boost button.

17 Choose the amount of WRT deposit in the vault.

18 Click Deposit.

19 Click Confirm.

20 Confirm this in your wallet that will open automatically.

21 Wait for the transaction to complete. After depositing your tokens for an entire epoch, you will receive higher farm rewards.

You can follow the steps above for each available pool, allowing you to win across multiple tokens and use WRT to increase your Cardano yield farming rewards.

Cardano dual yield farming

Like the WRT boosting lightning bolt symbol ⚡ on farming pages and farming tractor symbols 🚜 on select pool pages, also look out for double yield farming options in the DEX. The double yield farming icon is shown below:

Simple: Dual Yield Farms reward farmers with two types of tokens instead of one. It is an exciting service on the DEX where you can get more rewards at WingRiders.

WingRiders works with other projects that want to distribute their native Cardano tokens to the community. The two tokens are used to create a liquidity pool and then an associated farm. Note that not all pools have a dual yield farm or even a regular farm. In general, only selected pools benefit from a yield farm.

However, you can easily search for all options on the Pools page.

What do you need to increase your ADA rewards?

Firstly, you need to have some liquidity in an increasing rewards farm. You then need to deposit the desired amount of WRTs into the Boosting Vault. Once you’ve deposited your WRTs for at least an entire epoch, you’ll start earning rewards – just like in the case of yield bounty in farms. The amount you deposit depends solely on your preferences. An amount will be displayed in the administration dialog window, which will give you maximum boost rewards in the next epoch. If you deposit more than the calculated maximum, your rewards will not increase further unless you plan to provide more liquidity.

The WingRiders app will suggest the best amount of WRTs to use in order to get the biggest wins possible, as shown in the example below.

To learn more about yield maximization, we have an in-depth guide in this article or in ▶️ this video.

How do you manage your boosting rewards?

The boosting rewards will be automatically added to your boosting vault to maximize your future rewards. This is done automatically for your convenience, similar to how farm rewards are distributed among individual farms. If you choose to withdraw your rewards, simply reduce the amount of tokens deposited to your previous amount.

1. Go to Profit / Farming.

2. In the top section highlighted in green, Boosting Vault Click the Manage button.

3. Choose Retire..

4. Confirm this in your wallet that will open automatically.

WRT and DAO reconciliation

Aside from giving WRT more rewards from DeFi projects through yield farming, it is also the governance token for the WingRiders DEX. All owners become so-called Riders and receive the power to shape the future of the project.

Drivers can participate in the voting process on key project development decisions, including:

• Platform protocol parameters
• which features will be implemented next
• Modernization of modular smart contracts
• Platform fee parameters
• Selection of activated farms, including the allocation of their rewards

How can I vote with WRT?

How can I create voting proposals?

By selecting “Create Proposal” you can submit proposals to influence the future of DEX. Generally, prior to official submissions, discussions are opened on the WingRiders Community Improvements Portal to see if there is a good response before going through the detailed submission process. In the portal you can discuss ideas and eventually push the platform forward with improvements. For anyone at this stage, here are all the details on the DAO vote and more.

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