Elevating Funds
Last updated
Last updated
Elevating funds transfers staked tokens or LP from one elevation to another, without requiring separate withdraw & deposit transactions.
"Elevating" does not charge a deposit fee, even if the farm has a deposit fee.
"Elevating" Funds is part of our mission to create a frictionless and mature experience for users. Being forced to withdraw and then deposit your funds to move across elevations (potentially paying a second deposit fee) was unacceptable to us, so we implemented Elevating to make the process as smooth as possible.
Elevating funds can be done from the Summit Defi frontend from any staked farm, and can also be executed through each networks bscscan equivalent.
You can Elevate funds at any time from any farm to a matching farm (a farm sharing the same token / LP) at a different elevation.
No! Elevating will attempt to harvest any winnings in both the source and destination pool. Any already vested and available to harvest funds will be harvested, and any funds still vesting will continue to do so.
Of course, this is a completely acceptable way to move funds between elevations. You will have to pay the gas fees for both transactions though. Additionally, if a token has a deposit fee, you may get hit by the deposit fee again if you withdraw and later re-deposit. This deposit-fee is skipped on elevate.
