How To Use xTORCH Like a Hero (Pt.3): Yield Booster
Within days of launching, Hercules has quickly risen as both the top DEX and the highest Metis-based protocol in TVL on chain. With its inception, Hercules has grown to become the primary liquidity layer of the Metis ecosystem due to its intricate multi-yield model that fosters deep on-chain liquidity.
To date, Hercules is the only DEX on Metis that has been able to provide users with ludicrous APRs and incentives for their LP. Today we’ll explore the two key points of innovation behind Metis’ largest APR protocol: xTORCH and the Yield Booster plugin!
Hercules xTORCH Token
For those who need a refresher. xTORCH is the innovative cornerstone behind the Hercules protocol. It is the master key to the largest yield-bearing possibilities on the Metis layer 2 chain via the Yield Booster, Launchpad, and Dividend plugins!
The xTORCH itself is the non-transferable, illiquid, escrowed version of the Hercules TORCH token. The value behind xTORCH is supported by an exceptionally robust tokenomic model that exposes users to a variety of different yield-bearing opportunities on the platform. While xTORCH is the only asset that can grant you exclusive access to the Hercules platform, it can only be obtained by buying TORCH and converting it to xTORCH. The process to convert TORCH to xTORCH is extremely simple and can be done through the Hercules dashboard.
For an in-depth look at Hercules TORCH & xTORCH tokens, see here.
Why Allocate To The Hercules’ Yeild-Booster Plugin?
One of the main reasons why users have chosen Hercules as their top LP destination is the generous APRs and reward stacking mechanism set within the protocol. For example, users are often greeted with a plethora of triple-digit APR pools along with the occasional 1000%+ pools. Those who allocate xTORCH to the yield booster plugin however can enjoy up to a 100% boost on their APRs, thus greatly maximizing the earning potential on LP.
So what does this all equate to? Unparalleled rewards for users and a supercharged liquidity flow for the Metis L2 ecosystem.
How to allocate xTORCH to the Yeild-Booster plugin
To allocate xTORCH to the Yeild Booster plugin, simply navigate to the dashboard drop-down tab at the top of the web page, then select “Yeild Booster”. Once selected, you will be taken to the appropriate xTORCH allocation terminal where you can allocate your xTORCH.
Once your xTORCH has been allocated to the Yeild Booster plugin, you will able to experience insane rewards on your LP!
Conclusion
As Hercules continues to carry the TORCH as Metis’ champion DEX and liquidity foundation. Users can continue to expect leading APR rates, numerous yield-bearing opportunities, and an unmatched DeFi experience like none other found on Metis L2. Be sure to catch our posts about the Launchpad and Dividend plugins if you haven’t already!
About Hercules
With a composable, efficient liquidity protocol featuring seamless swaps, staking, real yield, and a launchpad, Hercules aims to become the native liquidity layer for the Metis Andromeda network. Its flexible features are tailored to protocol-owned liquidity, allowing dynamic fees and customizable incentives packaged in a user-friendly interface.
