Interacting with SecretSwap, users act in one or more of the following roles:
- Liquidity Providers
A liquidity provider adds equal amounts of an sAsset and/or another required asset to the corresponding SecretSwap pool, which increases liquidity for that market. This process rewards the liquidity provider newly minted LP tokens, which represent the liquidity provider's share in the pool and also provide rewards from the pool's trading fees. LP tokens can be burned to reclaim their corresponding share from the pool. Certain LP tokens are rewarded with SEFI token.
A staker is a user that stakes either LP Tokens or SEFI tokens in order to earn staking rewards as SEFI tokens. Governance is the process through which new sAssets will be added and protocol parameters can be altered. While governance for SecretSwap isn’t enabled at this time, this functionality will be released in the future. Only SEFI stakers will be able to participate in SecretSwap governance. SEFI staked & LP Tokens can be unstaked at any time.