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:
team@moby.trade - Proposer’s project name:
Moby - Proposer’s X account:
https://x.com/Moby_trade - Best Telegram Handle for questions/fixes:
@miguel_hedge - Affiliation (protocol / one of the tokens in the contract):
Protocol
2. Protocol Details
- Protocol Name:
Moby - Protocol Type:
Derivatives DEX + Vault - Protocol X profile link:
https://x.com/Moby_trade - Protocol docs link:
https://docs.moby.trade/ - Protocol audits links:
- Does the protocol have any relationship with current Berachain validators?
Yes (Validator name: verse2). We have been selected as a Mainnet Node Validator by the Foundation and have been informed that we will be added after the Genesis Set. Additionally, we successfully operated a Node Validator during the bArtio testnet period and are currently maintaining the node.
3. Contract/Pool Details
-
Contract Name
OLP (Options LP on Moby) -
Contract Address:
0x66f782E776a91CE9c33EcD07f7D2a9743775209e -
Contract Type / Configuration:
Derivatives Pool based on SLE (the next level AMM for on-chain options) -
Describe how the contract works
- Users earn OLP tokens for adding liquidity to pools with wBTC, wETH, USDC, and HONEY
- Users receive a share of Moby’s revenue in proportion to their liquidity contribution
- OLP token distribution is based on the Asset Target Ratio (ATR) and the composition of each OLP
- Users must return their OLP tokens to withdraw capital, losing future revenue rights on Moby
- Returned OLP tokens are immediately incinerated, and users are reimbursed with their original assets
-
Contract Fees:
- 50% of the total fees generated by Moby are distributed to OLP Liquidity Providers. The distributed fees within Moby are linearly allocated to respective stakeholders over 7 days. Plus, 100% of Risk Premium is distributed to OLP so that increase the value of OLP token itself.
- When buying/selling OLP tokens(=deposit/withdraw), fees are applied based on the deviation between the target ratio and the changed asset composition ratio of each OLP due to Minting/Closing (ranging from 0.2% to 0.8%)
-
Existing Liquidity / TVL:
- Total: 12,192 (Trader) / 7,231 (Liquidity Provider) / $910K (OLP TVL)
- Berachain: 7,946 (Trader) / 6,947 (Liquidity Provider) $182K (OLP TVL)
-
Identify any address(es) controlling more than 10% of the contract shares
- 0xd4E6362E225cC4a978b62FFd474336a9195dDC69 / LP User
- 0xFe62c50AbA428e1eD742A780D71A6598A5c43502 / LP User
-
Is the contract upgradable?
Yes -
Contract Control:
Multisig -
Additional details on Contract Control:
The contract is upgradable through a multisig setup consisting of multiple hardware wallets. -
Is the contract verified?
No -
Can the contract be paused?
Yes -
Does the contract rely on oracles?
No
4. Token Details
Provide the following details for each token in the contract (up to 5):
TOKEN 1
- Name
HONEY - Symbol
HONEY
TOKEN 2
- Name
USDC - Symbol
USDC
TOKEN 3
- Name
WBTC - Symbol
WBTC
TOKEN 4
- Name
WETH - Symbol
WETH
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:
TOKEN 1
- Name
BERA - Symbol
BERA
Additional Requirements:
-
Specify how many tokens you plan to allocate for incentives and over what period of time.
- Duration of Distribution: 6 Months (Higher Allocation for the Initial 3 Months)
- Token Allocation as OLP incentives: 5763.42 $BERA (=36,9450.780.2)
- Total RFA $BERA Amount: 36,945 $BERA
- Mainnet Incentive Allocation: 78% of Total Amount
- OLP Incentive Allocation: 20% of Mainnet Allocation
-
Outline how decisions about token incentives are made (DAO, multi-sig, etc.).
Incentives will be distributed by the multi-sig based smart contract -
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)
- Currently, the $BERA received through RFA is controlled by 0x44145b17a2a15316042f51174c63158fbe7ea2c3
- We plan to use them for OLP incentives. (The Incentive Manager Contract is TBU)
TOKEN 2
- Name
WETH - Symbol
WETH
Additional Requirements:
-
Specify how many tokens you plan to allocate for incentives and over what period of time.
- 50% of trading fee generated on Moby distributed to OLP liquidity provider. Solely WETH rewards from trading fee are expected to provide 15% APR, and it will continue indefinitely without a set timeframe.
- Additionally, like GMX’s GLP, the value of the OLP pool can grow over time. On top of the trading fees, 100% of the risk premium—fees paid by users to hedge the pool’s risk—is added to the OLP, increasing the value of OLP tokens. Considering this, we estimate the total APR to be around 25%, which will also continue without a fixed period.
-
Outline how decisions about token incentives are made (DAO, multi-sig, etc.).
The WETH is calculated and distriibuted by the manager smart contract from Moby, which is operated based on the mult-sig. -
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)
- Reward Distributor: 0x721Bc48Bae4B84a0Be18c45F05bc0dcDC5A97f9B
- Reward Router: 0x3277CB7dfa81849215B8d413b832054052e3d182
6. Growth, Community & Ecosystem Impact
Why This Contract Matters:
1. How will this pool benefit Berachain?
Moby is key to establishing Berachain’s dominance in the crypto options space as its only DeFi options platform for retail and institutional traders. Crypto options are an early and high-growth market, currently accounting for just 1% of the crypto space, with no chain fully leading the sector. Meanwhile, the U.S. stock options market sees $50 billion in daily trading volume, with options making up over 60% of TradFi’s total volume.
OLP is the core liquidity engine enabling Call/Put options trading on Moby. While existing Berachain Perps platforms offer up to 20x leverage, Moby allows for short-term options with leverage exceeding 1,000x, significantly driving ecosystem trading volume.
Beyond trading volume, OLP lets users deposit tokens and earn a share of Moby’s trading fees, incentivizing liquidity retention within Berachain. With plans to integrate stablecoins and LSTs alongside HONEY, OLP will convert key ecosystem liquidity into trading activity, boosting pool APR and TVL in a reinforcing cycle that strengthens Berachain’s PoL mechanism.
2. Will it deepen liquidity for a major ecosystem token (e.g., BERA, core stable asset)?
Definitely. Users can deposit HONEY into OLP and receive wETH rewards. OLP currently maintains a two-digit APR, and on Arbitrum, it has previously reached three-digit APR as trading volume grew. With this high APR, Moby’s OLP is an attractive pool for HONEY deposits. If $BGT emissions become available, even more HONEY liquidity is expected to flow into OLP.
Beyond wETH rewards, OLP provides additional incentives such as token value growth from risk premiums and Moby Point boosts, further strengthening HONEY liquidity. In the future, if OLP supplies liquidity for the $BERA options market, it will not only increase trading activity but also deepen $BERA liquidity by enabling deposits into OLP.
3. Does it enable important trading pairs that drive adoption or integrate with other Berachain projects?
Currently, OLP supports deposits for HONEY, USDC, wBTC, and wETH. However, it plans to expand by adding stable assets and liquid staking tokens issued by Berachain ecosystem projects. Examples include stablecoins like $NECT and BTC staking tokens like $PumpBTC and $UniBTC.
With these additions, Berachain users will have more options for trading while also being able to deposit these tokens into OLP to earn a high APR (two-digit). This enhances the utility of ecosystem tokens and contributes to increasing Berachain’s TVL. Additionally, OLP will introduce option markets for major ecosystem tokens beyond $BERA, further boosting trading volume across key trading pairs within Berachain.
Potential Volume / TVL:
1. Provide metrics or estimates on liquidity you expect to attract.
Arbitrum’s top derivatives LP, GLP (GMX | Decentralized Perpetual Exchange), maintains an average monthly TVL of approximately $400M, similar to Berachain’s expected scale. Given that the DeFi options market is still in its early stages, OLP’s target TVL on Berachain is set at $40M. With OLP’s consistently high APR (above two-digit) and strong growth potential, this target is highly achievable.
2. Highlight any known liquidity commitments. (If you or partners plan to seed the pool, provide proof of funds or a statement of intent.)
We have received commitments of approximately $300K+ from partnered trading firms, with additional liquidity provisioning discussions currently in progress.
Synergies with Other Protocols:
- Will this contract feed into any yield aggregators, lending markets, or liquid staking derivatives on Berachain?
We are in discussions to integrate OLP’s internal swap pool with Ooga Booga. Additionally, OLP plans to support assets such as $NECT, $PumpBTC, and $UniBTC, including stable assets and liquid staking derivatives, further enhancing its utility within the Berachain ecosystem.
Marketing / Promotion
- Are there plans to co-market with another project to bootstrap liquidity?
We have already established partnerships and are planning to co-market with the stable asset and liquid staking derivatives teams on Berachain (including PumpBTC, Bedrock, Beraborrow, etc.) to provide incentives for OLP deposits.
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.)
Despite launching its mainnet just weeks ago, Berachain has already established itself as a top liquidity network with a TVL of $3B. To further activate the ecosystem, it needs more pools like OLP that can effectively convert TVL into actual trading volume.
As Moby’s OLP grows in TVL, it can support higher trading volumes, which in turn increases APR, making the pool more attractive and driving further liquidity. Over time, OLP can become a core pool that strengthens Berachain’s liquidity and trading activity.
Looking ahead, OLP plans to expand beyond key ecosystem tokens like $BERA by introducing stock options markets, attracting a broader range of traders. This will help establish Berachain as a major player in the DeFi options sector, a space still lacking a clear leader.
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]”
Submitted Reward Vault Request for OLP(Options LP) on Moby with incentive tokens $BERA, $WETH (URL)
Final Reminder
A successful RFRV hinges on demonstrating:
- Security: Low smart contract and token risk.
- Demand: Community and liquidity providers want this pair.
- 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!
