General (non-BEX) RFRV Reward Vault Request for HONEY on Euler - Tulipa Hive Cluster (Updated Staking Version)

Reward Vault Request for EVK Vault eHONEY-3 Lending Vault within the Tulipa Hive Cluster market on Euler with updated staking contract


1. Proposer Details

  • Email: lee@euler.xyz
  • Proposer’s project name: Euler
  • Proposer’s X account (you will be required to make a post from the X account provided for verification purposes): https://x.com/lmount_
  • Best Telegram Handle for questions/fixes: @l_mount
  • Affiliation (protocol / one of the tokens in the contract): Euler Labs
  1. Protocol Details

  1. Contract/Pool Details
  • Contract Name:
    • EVK Vault eHONEY-3
  • Contract Address:
    • 0x027DcAfB223f69d41Bd413C50854017718419585
  • Contract Type / Configuration:
    • Lending Pool
  • Describe how the contract works:
    • User deposits underlying asset and receives ERC20 EToken representative of deposit. These deposits can be used as collateral to borrow other tokens from the platform
  • Contract Fees:
    • 10% of borrow interest is split 50/50 between the protocol & market curator
  • Existing Liquidity / TVL: current liquidity and volume stats (if applicable).
    • 2.86m HONEY
  • Identify any address(es) controlling more than 10% of the contract shares
    • 0xB2c763b898A246d6562d7566FAb4FD1dAD586935 - 27%
    • 0xC1D023141Ad6935f81e5286e577768B75C9ff8e8 - 25%
  • Is the contract upgradable?
    • Yes - proxy contract
  • Contract Control:
    • Multisig
  • Additional details on Contract Control:
    • Governance to be transferred to time-locked multisig, primarily for control of lending market parameters
  • Is the contract verified?
    • Yes
  • Can the contract be paused?
    • Yes
  • Does the contract rely on oracles?
    • Yes - used for valuation within lending market. It is a Redstone Classic oracle
  • Reward Vault

4. Token Details

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

For Major Tokens:

Token 1:

  • Name: Honey
  • Symbol: HONEY

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 1:

  • Name: Bera
  • Symbol: BERA

Additional Requirements:

  • Specify how many tokens you plan to allocate for incentives and over what period of time.
    • 100-500 BERA per week for the first 6 months, which will be modified depending on effectiveness of incentives
  • Incentive Manager address:
    • 0x1Eb9d1cF96e27968353Efe497444E9B5449C9791

Required Data for Incentive Token 2:

  • Name: Honey
  • Symbol: HONEY

Additional Requirements:

  • Specify how many tokens you plan to allocate for incentives and over what period of time.
    • HONEY incentives will come from fees earned by the vault - difficult to put an exact number on it
  • Incentive Manager address:
    • 0x1Eb9d1cF96e27968353Efe497444E9B5449C9791

6. Growth, Community & Ecosystem Impact

Why This Contract Matters:

  • How will this contract benefit Berachain?
    • Euler can establish a robust market, serving both users as a primary layer and enabling other protocols to enhance composability across the chain. Ample liquidity on DEXs and MMs forms the foundation of a sustainable DeFi ecosystem.
  • Will it deepen liquidity for a major ecosystem token (e.g., BERA, core stable asset)?
    • This vault specifically focuses on HONEY, but the cluster includes other major tokens (BERA, USDC, etc)
  • Does it enable important trading pairs that drive adoption or integrate with other Berachain projects?
    • The Euler market will enable other protocols, such as Origami and Contango, to develop turnkey leverage strategies on top of Euler. At the same time, Euler BGT farming can be seamlessly integrated into farming strategies offered by protocols like SetAndForgetti from THJ, Sting, fostering deeper liquidity and benefiting the entire ecosystem.

Potential Volume / TVL:

  • Provide metrics or estimates on the liquidity you expect to attract.
    • We expect to attract a significant portion of stable and other asset lending activity on Berachain. We estimate quickly reaching ~$40mm TVL for this particular cluster, but could certainly attract significant liquidity beyond this
  • Highlight any known liquidity commitments. (If you or your partners plan to seed the contract, provide proof of funds or a statement of intent.)
    • Markets have been bootstrapped using liquid incentive tokens.

Synergies with Other Protocols:

  • Will this contract feed into any yield aggregators, lending markets, or liquid staking derivatives on Berachain?
    • Many opportunities with other looping and lending strategies, such as Origami, Contango, etc

Marketing / Promotion:

  • Are there plans to co-market with another project to bootstrap liquidity?
    • None in the immediate future

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.)
    • Euler aims to become a foundational layer for lending and borrowing liquidity, positioning itself as the core infrastructure for other protocols. Its modular architecture, offering a high level of customizability, could help Berachain attract and sustain long-term liquidity. This reward vault in particular will help attract stable asset liquidity to help build robust stablecoin lending markets.

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

Hi team, at the time of submission, the following concerns were identified:

  • Number of token holders is below the minimum threshold (Minimum over 100 Holders).
  • Please provide a reward vault address for this staking token.
  • It appears there is an overconcentration of tokens in the wallet address ending in AD586935, which holds over 35% of the token supply. Please identify this wallet address, if possible.

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.

Hi,
Reward vault information has been added: 0xab1eCd0d1B6730C059A686115741CB131f804368
It is not possible to identify the address at this time.
Please note this is a replacement for a vault that has already previously been approved: General (non-BEX) RFRV Reward Vault Request for HONEY on Euler - Tulipa Hive - #4 by euler_lee
Euler - EVK Vault eHONEY-3 | Reward Vault | BeraHub
Thanks!