General (non-BEX) RFRV Reward Vault Request for D8X’s $Honey & $NECT liquidity pool
Henlo. We just submitted our first broposal to whitelist a dbUSD ($Honey, $NECT) reward vault. The liquidity in the pool will power leveraged trading of Berachain’s ecosystem tokens. Posting the full proposal here - would love to get community feedback and questions!
TL;DR
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D8X’s trade infrastructure enables leveraged trading of any Berachain ecosystem tokens that trade on spot DEXs & CEXs. Traders can collateralise their trades in $Honey and $NECT.
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D8X powers MadHoney’s perpetual future exchange and enables DeFi projects like Dirac Finance to hedge themselves on-chain.
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This Reward Vault Request aims to whitelist D8X’s LP poolshare token dbUSD.
1. Proposer Details
caspar.sauter@quantena.tech
Proposer’s project name
D8X
Proposer’s X account (you will be required to make a post from the X account provided for verification purposes)
Best Telegram Handle for questions/fixes
@DerivationPath
The proposer should be affiliated with the protocol or at least one of the tokens in the contract.
For example if the contract is a $EXAMPLE / $BERA pool on XYZ DEX, the proposer should be affiliated with the protocol (XYZ DEX) or one of the tokens in the pool (in this case, $EXAMPLE).
Affiliation (protocol / one of the tokens in the contract)
D8X
2. Protocol Details
Protocol Name (Example: XYZ DEX)
D8X
Protocol Type (DEX/Lending/Staking/Derivatives/Other)
If other: please specify
Derivatives
Protocol X profile link
@d8x_exchange
Protocol docs link
d8x[dot]gitbook[dot]io/d8x
→ links adjusted to pass publishing restrictions
Protocol audits links (multiple links)
d8x[dot]gitbook[dot]io/d8x/security/audits
Does the protocol have any relationship with current Berachain validators?
We are talking to a few validators
3. Contract/Pool Details
Contract Name (Example: $EXAMPLE / $BERA)
D8X LP Share Token ($Honey, $NECT)
Contract Address: Insert the contract address.
0x26bbc26415c6316890565f5f73017f85ee70b60c
Contract Type / Configuration: Is it a standard AMM pool, a lending pool, a derivatives pool, a custom contract
Derivative pool
Describe how the contract works (e.g., how to mint and redeem shares of the contract, if tokens can be exchanged within the contract…)
Liquidity providers register the stablecoin they wish to provide liquidity in (either $Honey or $NECT).
Liquidity providers then provide liquidity over a D8X partner frontend (e.g., MadHoney) and receive dbUSD. dbUSD is a token representing their share of the liquidity pool.
The liquidity pool is the counterpart to all perpetual futures trades that happen on D8X’s AMM on Berachain. Traders collateralise their trades in $Honey or $NECT. Yield generated from trading activity (fees, funding payments, PnL) accumulates in the collateral pool in $Honey and $NECT, increasing the dollar value of dbUSD.
Liquidity providers can withdraw their share of the liquidity pool over a D8X partner frontend (e.g., MadHoney.fi) in two steps: a) initiate withdrawal (wait up to 24h, depending on the size of the withdrawal), b) withdraw.
Contract Fees: Outline the fee structure (e.g., 10% of staking rewards)
The liquidity pool earns fees from trading activity (flat fees, bid-ask spread, funding rate payments, PnL).
Existing Liquidity / TVL: current liquidity and volume stats (if applicable).
Currently ∼$30k with an additional $350k-$500k to be added in the next days.
Identify any address(es) controlling more than 10% of the contract shares
(address / type: team, protocol-owned liquidity, etc.)
Currently: two team wallets provide >10% of the current liquidity and thus hold >10% of the poolshare token
Is the contract upgradable?
Yes
Contract Control: (Multisig/Single Owner/RBAC/Permissionless/Governance)
Multisig controlled by the D8X core team
Additional details on Contract Control
The contract is subject to the set of contract controls that exist on the larger set of D8X smart contracts. The contracts have been audited multiple times and have been battletested on Arbitrum and Polygon zkEVM mainnet for >1 year securing TVL. The project team that controls the multisig is fully doxxed and has a strong risk background in TradFi and DeFi.
Is the contract verified?
Yes
Can the contract be paused?
The Collateral Pool contract itself cannot be paused. Multiple risk mitigants exist on the AMM itself, including pausing individual markets.
Does the contract rely on oracles? (If yes, explain oracle dependency)
Yes, to get the price of $Honey and $NECT in $dbUSD when adding/removing liquidity the contract triangulates prices from
a redstone push oracle (one for $Honey, one for $NECT)
the price of bUSD, which is given by the dollar value per token of the total balance of the composite collateral contract
4. Token Details
Provide the following details for each token in the contract (up to 5):
For Major Tokens:
Honey
Non-Major Tokens:
Name:
Nectar
Symbol:
NECT
Contract Addresses (on Berachain and bridging addresses if cross-chain):
Berachain: 0x1cE0a25D13CE4d52071aE7e02Cf1F6606F4C79d3
Tokenomics, Distribution, and Vesting (links to official docs, website, etc.)
beraborrow[dot]gitbook[dot]io/docs/nect-stablecoin/what-is-nectar-usdnect
Identify any address(es) controlling more than 10% (address / type: team, foundation, investor, etc.)
N/A
Does the project issuing the token have any relationship with current Berachain validators?
Yes, Infrared, Kodiak, THJ, Validation Cloud, TTT Labs, Nocturnal Labs
Total Supply Cap (if any)
N/A
Circulating Supply
26,538,546
Token Type: (Governance, Utility, Memecoin, Stablecoin, LST, RWA, Other)
Stablecoin
Provide extra details (e.g. Use case, Redemption mechanics, Peg stability)
beraborrow[dot]gitbook[dot]io/docs/nect-stablecoin/what-is-nectar-usdnect
Are token contracts upgradable?
No
Token Control: (Multisig/Single Owner/RBAC/Permissionless/Governance)
Multisig
Additional details on Token Control
With a 4/6 signer threshold; will eventually have timelocks once the protocol matures.
Is the token contract verified?
Yes
Is the token a standard ERC20 or any functions have been customized? (e.g. transfer, balance, mint, burn…)
(If custom, provide a link to an audit.)
beraborrow[dot]gitbook[dot]io/docs/audits/audits
Can the token be paused?
No
5. Token / Project Background / Incentive Token Whitelist
Only two tokens can be whitelisted for use as incentives in a Reward Vault. Indicate which tokens will be used and provide all relevant information below.
Required Data for Incentive Token:
Name: Bera, Honey
Additional Requirements:
Specify how many tokens you plan to allocate for incentives and over what period of time.
We allocate up to 20k Bera (part of D8X RFA allocation) and a yet to be determined amount of $Honey as reward incentives over 9 months.
Outline how decisions about token incentives are made (DAO, multi-sig, etc.).
Decisions about incentive structure are made by the D8X team. If we see that liquidity levels are sufficient to sustain and grow the trading volume, we will adjust incentives. We will communicate incentive structure changes upfront.
Incentive Manager address (this address will manage the incentive token, being able to add incentive tokens to the reward vault and change the incentive rate)
0x339323229cf03975d9c8CB2374F34Df8f7855f60
6. Growth, Community & Ecosystem Impact
Why This Contract Matters:
1/ How will this contract benefit Berachain?
This contract contains the liquidity in D8X’s perpetual AMM. The AMM will enable leveraged trading of Berachain native tokens such as Bera, Ramen, Dirac etc. The AMM is white-labeled by our partner MadHoney. Other ecosystem projects (e.g., Dirac Finance) announced that they will integrate into our perpetual markets to hedge their protocol.
2/ Will it deepen liquidity for a major ecosystem token (e.g., BERA, core stable asset)?
The contract enables an additional yield source for holders of $Honey and $NECT, which deepens the liquidity for those two ecosystem stable assets.
3/ Does it enable important trading pairs that drive adoption or integrate with other Berachain projects?
The liquidity from the contract enables creating derivative markets for essentially any Berachain ecosystem token.
Potential Volume / TVL: Provide metrics or estimates on liquidity you expect to attract.
We expect between $2.5m to $50m in liquidity.
Highlight any known liquidity commitments. (If you or partners plan to seed the contract, provide proof of funds or a statement of intent.)
Initial deployment liquidity (team): $30k (already in pool)
LP1 : $200k (should be in pool within the next 3 days)
LP 2: $150k-$300k (should be in pool within the next 3 days)
LP 3: $2m (should be in pool in March)
Synergies with Other Protocols: Will this contract feed into any yield aggregators, lending markets, or liquid staking derivatives on Berachain?
Other protocols like MadHoney can use D8X’s white-label solution to offer perps to their users.
The liquidity in this contract can be used by any other protocol to hedge themselves on-chain using D8X’s perps
The poolshare token dbUSD itself is feeding into MadHoney’s bonding curve and generates a primary market for $MAD.
We are actively working on integrating dbUSD in lending markets and yield aggregators.
Marketing / Promotion: Are there plans to co-market with another project to bootstrap liquidity?
Yes, we will co-market with MadHoney, Beraborrow, Dirac finance, Ramen and all ecosystem partners from Mad Honey.
Long-Term Vision: How could this reward vault evolve over time? (E.g., eventually becoming a core liquidity pair or a major stable pool for the chain.)
We see this to become the main liquidity vault that powers leveraged trading on long-tail assets on Berachain.
7. Verification
Please post the following text with the provided X account:
“Submitted Reward Vault Request for [Contract Name] on protocol [Protocol Name] with incentive tokens [incentive token 1], [incentive token 2]”
x[dot]com/0xcaspar_/status/1894503097558352291