Summit Defi (old) SUMMIT Price $ 0.00474

Summit DeFi is a liquidity farm that ads a gamified element to yield farming. When users stake in an Elevation Farm (The PLAINS, The MESA, and The SUMMIT), they generate yield (in SUMMIT token). The amount of SUMMIT generated is based on the emissions / APR of the farm, just like a traditional yield farm.

Unlike a traditional yield farm, this SUMMIT is not immediately available for harvesting. Instead, over the duration of a round, it accumulates and is contributed to a Totem (think of this as a Team). At the end of the round, a single totem is randomly picked to be the winner, and the users who have selected that winning totem are granted a Yield Multiplier against the yield that they contributed during the round.