Spiritswap is an exciting decentralised exchange in the Fantom Opera Chain.
It is an incentivised AMM and stakers of $SPIRIT i.e.$inSPIRIT holders get to decide the distribution of emission of $SPIRIT inflation to the pair of their choice. This helps them use the weekly $SPIRIT rewards received from staking to farm that particular pair. This is a good strategy to use however you stand to lose out on quite a lot of profit through impermanent loss.
To get the best out of spirit swap the below steps are recommended:
1. Swap tokens for $SPIRIT on spiritswap
2. Stake $SPIRIT in vault to receive $inSPIRIT
3. You will recieve $SPIRIT rewards every Thursday
4. Swap $SPIRIT rewards for $ginSPIRIT
5. Stake $ginSPIRIT in Grim Finance to get $xginSPIRIT (Please do not convert SPIRIT to ginSPIRIT on Grim Finance, you will lose a lot of money ~7% so always swap to get equal $value instead of converting)
The benefit of doing this is that you can get your initial investment in $ginSPIRIT which is liquid unlike $inSPIRIT which is locked for 4 years. It is advisable to periodically take profits so you can recover your initial investment to reduce the risk incase of a price dump.
Below is the graphical representation of steps for your reference:
