Here is another picture that will help with the foam intuition. These sponsons only add weight, but make the canoe very hard to tip over. A fixed sponson set below the waterline can add displacement, but only to the extent of its size less its weight. Since foam is light; it can offer some gains, but again a dreadful resistance force/drag.
I apologize if I seem to be beating a dead horse. I tried to fun it up with some pics. There is ice on the lake edges here. Falling in is deadly, especially with 8 pound boots on. The fish picture is one of my favorites. That fish was about 18#.
My amas are typically hitting the water on one side of the boat and the other side is not touching the water unless we shift weight. They also need mounting space and the middle is best. Look close and you'll see they are quite a bit above the water without 400# of crew.
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