Request for NECT:HONEY:USDC:USDT0 Reward Vault (BurrBear Protocol)

Reward Vaults
1

Request for NECT:HONEY:USDC:USDT0 Reward Vault (BurrBear Protocol)

1. Proposer Details

  • Email: drew@burrbear.io

  • Proposer’s project name: BurrBear

  • Proposer’s X account (you will be required to make a post from the X account provided for verification purposes) https://x.com/drewwph

  • Best Telegram Handle for questions/fixes @ingcoph

  • The proposer should be affiliated with the protocol or at least one of the tokens in the contract.

  • Affiliation (protocol / one of the tokens in the contract): BurrBear team

2. Protocol Details

3. Contract/Pool Details

4. Token Details

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

Major Token #1:

  • Name: Honey

  • Symbol: HONEY

Major Token #2:

  • Name: USDC.e

  • Symbol: USDC.e

Major Token #3:

  • Name: USD₮(0)

  • Symbol: USDT(0)

For Non-Major Tokens:

  • Name: Nectar

  • Symbol: NECT

  • Contract Addresses: 0x1ce0a25d13ce4d52071ae7e02cf1f6606f4c79d3

  • Tokenomics, Distribution, and Vesting: NA, Its a stablecoin https://beraborrow.gitbook.io/docs/nect-stablecoin/what-is-nectar-usdnect

  • Identify any address(es) controlling more than 10% (address / type: team, foundation, investor, etc.) $sNECT vault on BeraHub is the only controller of >10% NECT. viewable on https://berascan.com/token/0x1ce0a25d13ce4d52071ae7e02cf1f6606f4c79d3#balances

  • Does the project issuing the token have any relationship with current Berachain validators? Infrared, THJ, Kodiak, Smillee, apDAO, Validation Cloud.

  • Total Supply Cap (if any) NA, NECT is a stablecoin minted off of collateral, as collateral is supplied

  • Circulating Supply 4,717,559

  • Token Type: Stablecoin

Provide extra details

5. Incentive Tokens

Required Data for Incentive Token:

Incentive Token #1

Smilee, Blockhunters and many more validators via pool partners who will be bribing on burrbear gauges

Total Supply Cap (if any) and Circulating Supply

  • Total Supply: 100M with 10M Burned

  • Circulating Supply on TGE: 26% sold to community

  • Token Type: Governance

  • If either token is a native stablecoin, LST, or governance token, provide extra details on Use case, Redemption mechanics, Peg stability: https://docs.burrbear.io/tokenomics/governance

  • Are token contracts upgradable? No

  • Token Control: Multisig pre TGE

  • Additional details on Token Control: Governance post TGE

  • 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

  • Can the token be paused? No

Additional Requirements:

  • Specify how many tokens you plan to allocate for incentives and over what period of time.

$10,000 USD worth of $BURR per week to start, to be increased in steps as TVL grows.

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

Multisig pre TGE, then post TGE full tokenomics will be made available to transition to DAO governed incentives management. Read more here → https://docs.burrbear.io/tokenomics/governance

  • 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) Address: 0xF2F4F3bED1611D279D1F3BceEA99CCC7e29bB080

Incentive Token #2

  • Name: POLLEN

  • Symbol: POLLEN

  • Contract Addresses (on Berachain and bridging addresses if cross-chain):

chain / address: 0xc99e948e9d183848a6c4f5e6c1d225f02f171d79

Tokenomics, Distribution, and Vesting (links to official docs, website, etc.) https://beraborrow.gitbook.io/docs/pollen/what-is-pollen

  • Identify any address(es) controlling more than 10% (address / type: team, foundation, investor, etc.): https://docs.google.com/spreadsheets/d/1e8A7UCXRr9hOIBxnsrSatM2mUxJ44M5kPDyUSWdoDFk/edit?gid=0#gid=0

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

  • If yes, which one?: Infrared, THJ, Kodiak, Smilee, apDAO, Validation Cloud.

  • Total Supply Cap (if any): 420,000,000

  • Circulating Supply: 134,830,003

  • Token Type: Governance

  • If either token is a native stablecoin, LST, or governance token, provide extra details on Use case:

POLLEN is the Beraborrow governance token, enabling active participation in the protocols governance and liquidity incentives.

It serves as a way for the protocol to utliise Proof of Liquidity to further the adoption of NECT, without having to create a new rewards vault for every NECT (our stablecoin) use case.

POLLEN is a means to increase exposure to Berachain governance through the utility of the Beraborrow protocol.

Creating a flywheel where more NECT utility enables more users to use Beraborrow for leverage, thus increasing total interest rates/fees to the Rewards Vault meaning more value can be passed through to incentivise liquidity. And the flywheel repeats.*

  • Are token contracts upgradable? No

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

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…) Yes - standard ERC20

  • Can the token be paused? No

Additional Requirements:

  • Specify how many tokens per week you plan to allocate for incentives: 400000

  • Specify for how many weeks you plan to allocate incentives: We plan to incentivise indefinitely but 8 weeks with the amount above and then we will look to shift to dynamic incentives.

  • 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) Address: 0xF2F4F3bED1611D279D1F3BceEA99CCC7e29bB080

Incentive Token #3

  • Name: Nectar

  • Symbol: NECT

  • Token Contract Addresses 0x1cE0a25D13CE4d52071aE7e02Cf1F6606F4C79d3

  • Tokenomics, Distribution, and Vesting (links to official docs, website, etc.)

NA, It’s a stablecoin https://beraborrow.gitbook.io/docs/nect-stablecoin/what-is-nectar-usdnect

  • Identify any address(es) controlling more than 10% (address / type: team, foundation, investor, etc.) : $sNECT vault on BeraHub is the only controller of >10% NECT. viewable on https://berascan.com/token/0x1ce0a25d13ce4d52071ae7e02cf1f6606f4c79d3#balances

  • Does the project issuing the token have any relationship with current Berachain validators? Infrared, THJ, Kodiak, Smillee, apDAO, Validation Cloud.

  • Total Supply Cap (if any) NA, NECT is a stablecoin minted off of collateral, as collateral is supplied

  • Circulating Supply 4,717,559

  • Token Type: Stablecoin

  • If either token is a native stablecoin, LST, or governance token, provide extra details on Use case, Redemption mechanics, Peg stability: Deposit collateral, mint NECT. redeem NECT for collateral → https://beraborrow.gitbook.io/docs/nect-stablecoin/what-is-nectar-usdnect

  • Are token contracts upgradable? No

  • Token Control: 90% permissionless 10% multisig

  • Additional details on Token Control: Governance post TGE

  • Is the token contract verified? Yes

  • Is the token a standard ERC20 or any functions have been customized? (e.g. transfer, balance, mint, burn…) Custom: https://beraborrow.gitbook.io/docs/audits/audits

  • Can the token be paused? No

Additional Requirements:

  • Specify how many tokens you plan to allocate for incentives and over what period of time.

NECT will be bribed as a backup to BURR at the same USD equivalent rate when BURR is not used for bribing.

  • 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) Address: 0xF2F4F3bED1611D279D1F3BceEA99CCC7e29bB080

6. Growth, Community & Ecosystem Impact

Why This Contract Matters:

  • How will this contract benefit Berachain?

Stablecoin liquidity and subsequent volume is essential for future use cases to be enabled on Berachain. The previous HONEY/NECT/USDC.e pool has already facilitated more than 300M volume; we expect this number to go up with the addition of a third major stablecoin.

BurrBear’s BURR token serves as primary incentive for the growth of liquidity for USD stablecoins, then eventually base liquidity for other majors and RWA tokens (starting with Twin Finance) going live with tokenized stocks vs 3pool tokens) to give Berachain real world utility as liquidity deepens on chain and the ecosystem matures.

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

Yes - HONEY, USDT and USDC

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

Yes, upcoming berachain native stablecoins intend to LP against the 4pool: : <4pool LP token> to bootstrap their own liquidity/volume and further build the 4pool (HONEY:NECT:USDC:USDT0) organically without relying on staking rewards alone.

  • Potential Volume / TVL:

  • Provide metrics or estimates on liquidity you expect to attract.

Already reached $4.5m TVL and $336M volume. Short term target: $10M TVL, $500M vol. Long term: $100M TVL, $2B vol.

  • Highlight any known liquidity commitments.

Aside from Boyco, various platforms are starting to integrate to “re-sell” the 3pool rewards in exchange for liquidity from their communities. TurtleDAO is the first live that has contributed ~$500k TVL with many others currently integrating.

  • Synergies with Other Protocols:

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

  • Euler & ZeroLend has already integrated the previous 3pool contract as collateral. We are exploring synergies with Dolomite to further increase avenues for lending.

  • Marketing / Promotion:

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

Yes incentives are co-provided between BurrBear and Beraborrow.

  • Long-Term Vision:

  • How could this reward vault evolve over time?

This reward vault will serve to grow cornerstone liquidity for USD stablecoins initially, but eventually as base liquidity for other majors and RWA tokens (starting with Twin Finance going live with tokenized stocks vs 4pool tokens) to give Berachain real world utility as liquidity deepens on chain and the ecosystem matures.

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]”

Addendum:

We will be migrating liquidity from the previously whitelisted pool (Pool Link & RFRV) to this newly deployed boosted pool (https://app.burrbear.io/pools/berachain/v3/0x10b1e01511d89b148700df8e370c6bc74814de60). The new pool is a boosted pool, forked from Balancer v3, which enables users to earn additional yields on their idle assets through yield-bearing tokens integrated via Dolomite.

2

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

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 appropriate updates, this application would be in a better position for Reward Vault consideration.