General (non-BEX) RFRV Reward Vault Request for Kodiak deUSD-HONEY Island Pool

Reward Vaults
1

Proposer’s Email

cole@elixir.xyz

Proposer’s project name

Elixir

Proposer’s X account (you will be required to make a post from the X account provided for verification purposes)

@elixir

Best Telegram Handle for questions/fixes

@colecp

1. Protocol Details

Your Protocol Name

Elixir

Protocol Description

The Elixir network is a new primitive, purpose-built to power the next generation of institutional liquidity.

Elixir powers deUSD – a fully collateralized, yield-bearing synthetic dollar. Elixir is the most widely adopted network by RWAs: exclusively bringing funds from BlackRock, Hamilton Lane, andothers to DeFi for the first time through deUSD. The Elixir network is secured by 30,000+ global validators.

Docs

Protocol URL (link to dApp)

https://elixir.xyz/deusd

Protocol Logo URL (image must be 1024x1024 and non-transparent otherwise may DELAY metadata)

2. Reward Vault and Staking Token Details

Vault Name (Example: iBGT on Infrared or Wasabee - WETH | WBERA)

deUSD-Honey on Kodiak

Reward Vault Address: (insert only the contract address)

0xdD200703af593388D36F406830256599D302Cd5b

Logo URL: Vault Image used for Staking Token Image (1024x1024 and non-transparent other may DELAY metadata)

Staking Token Contract Address

0x7203fB920421170Cc4Da001d758fdE8f391A0570

Submit a Google Sheet link identifying addresses controlling more than 20% of the Staking Token supply. Template: Address Identification Template (MAKE YOUR OWN COPY TO USE) - Google Sheets

n/a

Is the Staking Token located on BEX?

non-BEX

Specify the protocol where the Staking Token is located (Ex: BEX, Kodiak, YourOwnProtocol)

Kodiak

Link to where the Staking Token is located

Audit link(s) of the protocol where pool is located

Existing Liquidity / TVL (if it is a DEX pool the TVL should be at least $50K in base asset, which can be a major ecosystem asset)

$200,000 total (double sided) pre-launch liquidity will be seeded by the Elixir Foundation

Describe how a user should acquire this staking token

Users can purchase from the Kodiak pool or bridge deUSD to Bera via https://bridge.elixir.xyz

2. Token Information

List Tokens Names

Elixir deUSD, HONEY

List Tokens Symbols

deUSD
HONEY

List Contracts Addresses (on Berachain and bridging addresses if cross-chain):

deUSD on Bera: 0x7203fB920421170Cc4Da001d758fdE8f391A0570 | deUSD (on ETH mainnet):

0x15700b564ca08d9439c58ca5053166e8317aa138

First Incentive Token

What the first incentive token in the pool?

BERA

First Incentive Token Final Questions

Specify how many tokens per week you plan to allocate for incentives

50,000 BERA over 6 months (followed by an evaluation phase)

Specify for how many weeks you plan to allocate incentives*

26 weeks

Outline how decisions about token incentives are made (DAO, multi-sig, etc.).

Decisions are guided by a DAO-based model with community feedback. Execution via a 3/5 multi-sig comprised of core, foundation, and 1 outside member.

Incentive Manager address

0x4a6f53be5c0cb1937469273456da80d681403232

Do you want to add a second incentive token?

No

Growth, Community & Ecosystem Impact

Why This Contract Matters:

  1. Deploying deUSD and sdeUSD provides Berachain with a native overcollateralized stablecoin
    system and a staking yield mechanism. Benefits include:
  • Strengthening the stablecoin ecosystem / dynamics on Berachain. - Attracting stablecoin-native capital to Berachain through seeded rewards and other user mechanisms (minting/staking/native yields).
  • Purchase and distro of liq mining incentives (Bera rewards)
  • Adding depth and TVL to Honey and the chain itself

Potential Volume / TVL:

$3.5m in TVL commits so far. Target: $10mm total pool liq. We (Elixir Foundation) will seed it initially with $200,000.

Synergies with Other Protocols:

Yes, deUSD deployment will be reliant on working with a host of other ecosystem-native protocols

Marketing / Promotion Plans?

Yes

Long-Term Vision:

For deUSD and its staked variant to eventually become a core liquidity denominator and HONEY backing asset.

2

Hi team,

Sorry for our delay in approving this post as it was caught in spam filters.

Can you comment on how this pool may drive value to BERA? How would you expect to scale it? And are you able to meet the minimum holders + pool ownership requirements, to ensure that Elixir isn’t owning the whole LP?

1 Like
4

Hey thanks for the questions:

  1. Deploying deUSD and sdeUSD provides Berachain with a high-demand native yield-bearing stablecoin with a unique risk/return profile, bringing the Elixir community to Berachain and furthering use cases on the chain. The benefits include:
  • Increasing stablecoin yields on Berachain through looping and arbing to deUSD, while reducing reliance on bridged or external stables
  • Attracting stablecoin-native capital to Berachain through seeded rewards and familiar mechanisms (mint/stake/yield)
  • Activating liquidity mining incentives (Bera/Elixir Potion rewards) to drive sustainability of TVL inflows
  • Promoting capital efficiency by giving users a reason to hold and use deUSD within Berachain without needing to exit the ecosystem for yield
  1. We will meet the minimum holders/pool ownership requirements upfront. We’ll do this by highlighting the new deUSD use cases in the Berachain ecosystem to our community as well as working with several external capital sources.

Let me know if any further questions come up!

5

On behalf of the BGT Foundation, we would like to inform you that your proposal has been tentatively accepted. However, please note that the vault cannot be whitelisted until the minimum TVL requirement of $100K is met.

Once this threshold is reached, we will initiate the whitelisting process as part of our next official whitelisting batch.

Please note that the decision regarding proposal evaluations is made by the Governance Guardians on behalf of the BGT Foundation.