General (non-BEX) Reward Vault Request for LBGT-HONEY on Bulla Exchange

Reward Vaults
1

General (non-BEX) RFRV

Reward Vault Request for [Contract Name]

Summary of RFRV Criteria

  • Deployed Contract: Must already be live.
  • Deployed Tokens: Must have the incentive tokens live.
  • Economic Value: Show significant TVL, trading volume potential, or strategic benefit.
  • Security: Use standard or audited contracts; tokens must be reputable.
  • Decentralization: Each token in the pair must show sufficient decentralization.
  • Transparency: Team/project info, audits, and open communication.
  • Synergy: Integrate with or benefit the broader Berachain ecosystem.
  • Community Support: Demonstrate genuine interest/demand.
  • Operational Safety: Clear ownership, upgradeability details, and compliance considerations.
  • Pair with a Major (Recommended for DEX pools): Major tokens are BERA, HONEY, BYUSD, USDC, wETH, and wBTC.
  • Verification: The proposer should be affiliated with the protocol or at least one of the tokens in the contract

1. Proposer Details

  • Email: bullabear1@gmail.com
  • Proposer’s project name: Bulla Exchange
  • Proposer’s X account (you will be required to make a post from the X account provided for verification purposes) @BullaExchange
  • Best Telegram Handle for questions/fixes: @bullabear_fi

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): Founder at Bulla Exchange
  1. Protocol Details
  • Protocol Name Bulla Exchange
  • Protocol Type (DEX/Lending/Staking/Derivatives/Other)
    • DEX
  • Protocol X profile link: https://x.com/bullaexchange
  • Protocol docs link: https://docs.bulla.exchange/
  • Protocol audits links (multiple links): Audits | Bulla
  • Does the protocol have any relationship with current Berachain validators? We have team telegram chats open with both Infrared and THJ.
  1. Contract/Pool Details
  • Contract Name: aLBGT-HONEY
  • Contract Address: 0x829432679F69DBd8b2575f006EC0129894a39D86
  • Contract Type / Configuration: Standard AMM Pool with automated liquidity management
  • Describe how the contract works: Users deposit the base assets of LBGT and HONEY and receive a proportionate amount of ERC-20 LP tokens in return. Those assets are then deployed to the Algebra Integral concentrated liquidity AMM pool where they are actively managed around the current price. Those assets can then be redeemed for the ERC-20 LP tokens.
  • Contract Fees: LPs earn trading fees from the fees accrued from the liquidity position. 30% of the fees will be used as bribes to validators. The fees will be earned in the form of HONEY and LBGT from the swaps that accrue in the liquidity position.
  • Existing Liquidity / TVL: Currently $6.68 of liquidity in the pool. (Bulla - Leading DEX on Berachain). Within the last 24 hours $3 of volumes and $0.03
  • Identify any address(es) controlling more than 10% of the contract shares
    (address / type: team, protocol-owned liquidity, etc.): 0x71e7d05be74ff748c45402c06a941c822d756dc5
  • Is the contract upgradable? No
  • Contract Control: (Multisig/Single Owner/RBAC/Permissionless/Governance): Multisig
  • Additional details on Contract Control: The contract is permissionless to deposit/withdraw. Only deposits may be paused and withdrawals can never be paused. Active management of liquidity is controlled by Gamma Strategies, and rebalances are further proxied via a RebalanceProxy contract which dictates the extent to which liquidity may be rebalanced. The contract is noncustodial in that the admin only has rebalancing/compounding rights and cannot migrate the liquidity or withdraw liquidity to any other address but the LP token holder.
  • Is the contract verified? Yes
  • Can the contract be paused? Only deposits, not withdrawals
  • Does the contract rely on oracles?
    • Yes, the deposit proxy contract (UniProxyETH.sol) uses the Algebra Integral TWAP oracle, among 3 other safety measures, to ensure that price change prior to a deposit isn’t too high to protect deposits from price manipulation.

4. Token Details

Provide the following details for each token in the contract (up to 5):

For Major Tokens:
  • Name: HONEY
  • Symbol: HONEY
For Non-Major Tokens:
  • Name: LBGT
  • Symbol: LBGT
  • Contract Addresses (on Berachain and bridging addresses if cross-chain):
    0xbaadcc2962417c01af99fb2b7c75706b9bd6babe
  • Tokenomics, Distribution, and Vesting (links to official docs, website, etc.)
    • LBGT is a liquid wrapper for BGT tokens.
    • It is backed 1:1 by the BGT earned by liquidity deposited to berapaw’s vaults.
    • LBGT does not earn the rewards associated with BGT unless staked.
    • LBGT is not redeemable for BGT.
    • LBGT allows holders to stake (via berapaw’s staking vault) and earn all associated BGT rewards.
  • Identify any address(es) controlling more than 10%
    (address / type: team, foundation, investor, etc.)
    • 0x4Be03f781C497A489E3cB0287833452cA9B9E80B/ BexVault - 76.51%
    • 0xFace73a169e2CA2934036C8Af9f464b5De9eF0ca
    • All other addresses are under 10%
  • Does the project issuing the token have any relationship with current Berachain validators?
    • Yes, LBGT owners delegate their BGT to validators.
  • Total Supply Cap (if any) : N/A
  • Circulating Supply: 43,680.898713036379702976
  • Token Type: LST
  • Provide extra details (e.g. Use case, Redemption mechanics, Peg stability)
    • Liquid wrapper for BGT tokens
    • It’s not redeemable for BGT
    • It is used as a liquid form of BGT yield.
  • Are token contracts upgradable? No
  • Token Control: (Multisig/Single Owner/RBAC/Permissionless/Governance): Multisig
  • Additional details on Token Control: The minter and burner role is controlled by an upgradeable proxy contract which uses the berapawV1_2 implementation. The pauser role is controlled by the team Gnosis Safe.
  • 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.)
    • Standard ERC-20
  • 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: HONEY
  • Symbol
  • (if the name and symbol match one of the tokens already provided or a major token, skip the next steps)
  • Token Contract Addresses (on Berachain and bridging addresses if cross-chain):
    chain / address
  • Tokenomics, Distribution, and Vesting (links to official docs, website, etc.)
  • Identify any address(es) controlling more than 10%
    (address / type: team, foundation, investor, etc.)
  • Does the project issuing the token have any relationship with current Berachain validators?
  • Total Supply Cap (if any) and Circulating Supply
  • Token Type:
    (Governance, Utility, Memecoin, Stablecoin, LST, Other)
  • If either token is a native stablecoin, LST, or governance token, provide extra details on Use case, Redemption mechanics, Peg stability
  • Are token contracts upgradable?
  • Token Control: (Multisig/Single Owner/RBAC/Permissionless/Governance)
  • Additional details on Token Control
  • Is the token contract verified?
  • 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.)
  • Can the token be paused?

Additional Requirements:

  • Specify how many tokens you plan to allocate for incentives and over what period of time.
    • We expect to get up to $200k of liquidity and $1,200 in normalized fees. 30% of that is $360 / day in LBGT and HONEY
      • $1,260 in HONEY per week
  • Outline how decisions about token incentives are made (DAO, multi-sig, etc.): Multisig
  • 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)
    • LBGT: 0xe105B981bC871c6591a666424FF2368097836469
    • HONEY: 0x8Ec9F5d1d44b49431ddbdAEd9bad2dAbD4920f37

Required Data for Incentive Token:

Name: Liquid BGT​

Symbol: LBGT​

Token Contract Addresses:

  • Token Contract Addresses (on Berachain and bridging addresses if cross-chain):
    chain / address Berachain LBGT: : 0xbaadcc2962417c01af99fb2b7c75706b9bd6babe
  • Tokenomics, Distribution, and Vesting (links to official docs, website, etc.)

Liquid BGT (LBGT) Token Tracker | BeraScan Balances can be found here.

  • Identify any address(es) controlling more than 10%
    (address / type: team, foundation, investor, etc.) 0x4Be03f781C497A489E3cB0287833452cA9B9E80B Bex Vault

  • Does the project issuing the token have any relationship with current Berachain validators?

  • Total Supply Cap (if any) and Circulating Supply:

  • Total Supply Cap: 79,700 LBGT​ Circulating Supply: 77,000 LBGT

  • Token Type:
    (Governance, Utility, Memecoin, Stablecoin, LST, Other) LST

  • If either token is a native stablecoin, LST, or governance token, provide extra details on Use case, Redemption mechanics, Peg stability See here: BeraPaw Docs

  • Are token contracts upgradable? No

  • Token Control: (Multisig/Single Owner/RBAC/Permissionless/Governance) Permissionless

  • Additional details on Token Control

  • Is the token contract verified? Yes

  • Is the token a standard ERC20 or any functions have been customized? (e.g. transfer, balance, mint, burn…) Standard ERC20
    (If custom, provide a link to an audit.) No

  • Can the token be paused? No

Additional Requirements:

  • Specify how many tokens you plan to allocate for incentives and over what period of time.
    • $1,260 in LBGT
  • Outline how decisions about token incentives are made (DAO, multi-sig, etc.): Multisig
  • 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)
    • LBGT: 0xe105B981bC871c6591a666424FF2368097836469
    • HONEY: 0x8Ec9F5d1d44b49431ddbdAEd9bad2dAbD4920f37

6. Growth, Community & Ecosystem Impact

Why this contract Matters

  • How will this contract benefit Berachain?

  • This contract will enhance liquidity for LBGT, the one of the leading LSTs on the Berachain network.

  • There is currently no liquidity for the LBGT-HONEY route, and so this liquidity route will service a major route between one of the pre-eminent LSTs and largest stablecoins on the network

  • Will it deepen liquidity for a major ecosystem token (e.g., BERA, core stable asset)?

  • Yes. By pairing LBGT with HONEY, this contract will significantly improve HONEY liquidity on Berachain.

  • This actively managed position should make it the most capital efficient pair on the market.

  • Does it enable key trading pairs that drive adoption or integrate with other Berachain projects?

  • Yes. As one of the most used assets on Berachain, this LBGT/HONEY pool will likely serve as one of the primary trading routes for LBGT.

  • Increased LBGT liquidity will also enhance the utility of BGT in lending markets such as Beraborrow and Dolomite. Additionally, given BeraPaw prominence, LBGT will play a central role as a yield token—making deep liquidity essential for sustaining its yield potential.

Potential Volume / TVL:

  • Expected Liquidity & Metrics

  • Currently, the LBGT/HONEY pair is generating 159% Fee APR (Bulla - Leading DEX on Berachain)

  • With the integration of POL and increased adoption of LBGT across BeraPaw vaults, we anticipate even higher trading activity on this pair.

  • Assuming a conservative 25x increase in LBGT issuance following governance activation, TVL is expected to grow to at least $200K. This estimate is likely conservative, as broader ecosystem adoption will likely drive an even greater increase in trading volume and fee generation.

  • Liquidity Commitments.

  • We plan to seed with $10k of our own capital.

Synergies with Other Protocols:

  • Will this contract feed into any yield aggregators, lending markets, or liquid staking derivatives on Berachain?

  • Yes, this pool will be the primary trading route for LBGT-HONEY and it will be facilitating collateral integrations with lending markets such as Beraborrow, Dolomite, and others.

  • We’re also in discussions with BeraPaw, who will be co-bribing this pool with us.

  • Marketing / Promotion:

  • Are there plans to co-market with another project to bootstrap liquidity?

  • Yes, BeraPaw will list us on their frontend and co-market and co-bribe this pool

  • Gamma Strategies, our main automated liquidity partner, will also list this pair on their own frontend and promote the yield across their social channels.

  • 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 believe this pair, which is currently quickly becoming one of the top performing trading routes on Ooga Booga, will become the core liquidity pool for LBGT. The capital efficiency of this pair, along with dynamic fee adjustments and range adjustments, allows it to adapt to market conditions without requiring liquidity migration.

  • In the future, we see this reward vault becoming one of the premier sources of yield on HONEY and LBG

  • Ultimately, we aim to set an example for the sustainability of the POL system, where BGT emissions are backed not by protocol emissions but by fees generated from real network usage. The more adoption LBGT gains, the higher the trading volumes, the greater the fees, and the stronger the bribes supporting BGT emissions from validators.

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]”

Insert post link: https://x.com/BullaExchange/status/1905514416894083101

Final Reminder

A successful RFRV hinges on demonstrating:

  1. Security: Low smart contract and token risk.
  2. Demand: Community and liquidity providers want this pair.
  3. Ecosystem Benefit: Increases volume, TVL, or strategic positioning for Berachain.

Make sure to cover these points clearly to maximize your chances of passing the governance vote / RFRV!

2 Likes
2

Hi team, thanks for the proposal.

Could you please help address the following concerns?

  • Pool liquidity is below minimum required threshold (Minimum of USD 100,000)
  • Number of token holders is below the minimum threshold (Minimum over 100 Holders)
  • Please specify the incentive amount and duration.
  • What is the added utility of a LBGT-HONEY vault over LBGT-BERA?

Please note that the following feedback doesn’t represent the opinions of the BGT Foundation.
It is contextual feedback from the Bera ecosystem team with respect to publicly stated guidelines.

With the following changes implemented, this application should be a better candidate for a Reward Vault.

1 Like