The BOO-MAX Vault is composed of 3 main parts: the $BOO Vault, the Magicat Staking Vault, and the $BOO Farmer. Each of these plays a role in ensuring ROI is as high as possible.
The $BOO Vault manages accounting and security, ensures that principal investment is protected, and distributes rewards. This vault distributes $BOO tokens to the $BOO Farmer so that it can generate ROI on user deposits.
The Magicat Staking Vault gives Magicat holders a brand new way to earn revenue, without needing to stake any $BOO. It distributes the staked cats’ boost power to the $BOO farmer, allowing it to generate additional APR. In exchange for this boost power, the Farmer sends back a portion of the boosted $BOO rewards to Magicat stakers. This allows both $BOO and Magicat holders to benefit without needing to hold the other asset. The Magicat Staking Vault automatically compounds $BOO on behalf of users, so the cats are always earning as much as possible. This way, there is no real need to claim, other than to transfer your balance from the Magicat Staking Vault to the $BOO Vault.
The $BOO Farmer coordinates both of the above vaults to maximize earning potential within Spookyswap’s revenue sharing farms. By combining the capital of the $BOO vault and the boost power of the Magicat vault, it is able to generate more yield than any other system. In addition to its orchestration power, it also re-balances positions automatically based on the level of dilution using information delivered by an off-chain algorithm.
Simply put, BOO is staked for xBOO, xBOO is staked in Spookyswap revenue sharing farms, Magicats are staked to boost farm rewards, and everything is compounded back into BOO and redistributed to optimize returns. The following infographic may help to demonstrate the inner workings of the vault.
$BOO-MAX Crypt inforgraphic

Scully's additional resources:

You can learn more about the BOO/ Magicats crypt in this article.
You can learn more about rebalancing positions automatically in this article.
You can learn more about Magicats here.