Request for wgBERA/BERA Reward Vault

Reward Vaults
1

Here’s our thread for community discussion around our first broposal / governance ask for the creation of a wgBERA/BERA reward vault.

General (non-BEX) RFRV

Reward Vault Request for wgBERA/BERA

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

  1. Proposer email: 0xmop.smilee@gmail.com
  2. Proposer project name: Smilee Finance
  3. Proposer X account: https://x.com/SmileeFinance
  4. Best Telegram handle for question/fixes: @OxMop94
  5. Affiliation: wgBERA

2. Protocol Details

  1. Protocol Name: Burrbear
  2. Protocol Type: DEX
  3. Protocol X profile link: https://x.com/moneygoesburr
  4. Protocol docs link: https://docs.burrbear.io/
  5. Protocol audits links: Audits | BurrBear / boyco-flow/audit at main · burrbear-dev/boyco-flow · GitHub
  6. Does the protocol have any relationship with current Berachain validators? No

3. Pool/Contract Details

  1. Contract Name: wgBERA:wBERA Multi Stable Pool
  2. Contract Address: 0x567f32E86BE3e3963CdBc1887b5043B701f113d9

  1. Contract Type / Configuration: AMM

  2. Describe how the contract works: Burrbear is a forked Composable Stable Pool of Balancer v2 - Multi Stable Pools | BurrBear

  3. Contract Fees: Outline the fee structure (e.g., 10% of staking rewards): 0.1% Fees on swaps

  4. Existing Liquidity / TVL:c$700k TVL, $675k volume as of 2/26/25 - BurrBear

  5. Identify any address(es) controlling more than 10% of the contract shares
    (address / type: team, protocol-owned liquidity, etc.): BurrBear team originally helped seed, but now has no liquidity in this pool given the quick community LP participation.

  6. Is the contract upgradable? No.

  7. Contract Control: (Multisig/Single Owner/RBAC/Permissionless/Governance): Multisig, then later Governance.

  8. Additional details on Contract Control: it will switch to governance once BURR token launched

  9. Is the contract verified? Yes

  10. Can the contract be paused? Yes (Swaps can be paused during emergency scenarios, but removing liquidity will always be functional)

  11. Does the contract rely on oracles? No.

4. Token Details

  1. Token 1:
    1. name: WGBERA
    2. symbol: WGBERA
  2. Token 2:
    1. name: Wrapped gBERA
    2. symbol: wgBERA
    3. Contract Addresses (on Berachain and bridging addresses if cross-chain):
    Berachain / 0xD77552D3849ab4D8C3b189A9582d0ba4C1F4f912
    4. Tokenomics, Distribution, and Vesting:
  1. Identify any address(es) controlling more than 10%:
    https://docs.google.com/spreadsheets/d/1AFhvU_sbqEwy5nADBa0wLjlZ4GOqh9MzjMM0rxUCtEM/edit?usp=sharing
  2. Does the project issuing the token have any relationship with current Berachain validators? Yes.
  3. If yes, which one? Smilee Validator.
  4. Total Supply Cap (if any)
  5. Circulating Supply: 3,565,859.67
  6. Token Type: LST
  7. Provide extra details (e.g. Use case, Redemption mechanics, Peg stability)

gBERA provides a decentralized liquid staking token for $BERA. wgBERA is a non-rebasing ERC4626-compliant alternative that increases in value relative to the underlying gBera.
It will be possible redeeming 1:1, once withdrawals will be enabled on Berachain network, until then unstaking from gBera won’t be possible. There is no mechanism in place to guarantee the peg, people can swap in and out using the liquidity pool. Amplification parameter is 750.

  1. Are token contracts upgradable? No
  2. Token Control: Permissionless
  3. Additional details on Token Control
  4. Is the token contract verified? Yes
  5. Is the token a standard ERC20 or any functions have been customized?

wgBERA is an ERC4626. convertToShare and convertToAsset functions have been adjusted to account for rewards accrued into gBERA (rebasing ERC20). Both wgBERA and gBERA designs are based on that of a standard LST.

  1. Can the token be paused? No

5. Incentive Token Details

Incentive Token 1:

  1. name: BERA

  2. symbol (if the name and symbol match one of the tokens already provided or a major token, skip the next steps): BERA

  3. Specify how many tokens you plan to allocate for incentives and over what period of time:
    BurrBear will allocate 3000 BERA from its’ RFA towards building this pool over 6 months to establish deep stablecoin liquidity on Berachain. The first of the 3000 BERA pre POL has already been allocated to active rewards via our temporary staking contract, but emissions rate will be increased as (a) this pool is BGT whitelisted and (b) boyco nears end of 3 month duration.

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

  5. 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)

Incentive Token 2:
6. name Wrapped gBERA
7. symbol wgBERA
8. Specify how many tokens you plan to allocate for incentives and over what period of time: 3000 wgBERA over 6 months
9. Outline how decisions about token incentives are made (DAO, multi-sig, etc.): multi-sig.

  1. 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)

0xb28BEde667acd985b6DfF27717CC008010947F8F

6. Growth, Community & Ecosystem Impact

  1. Why this contract matters?
  • increase chain security, since it will increase the amount of BERA staked
  • favour decentralization, since it will introduce a crucial LST alternative
  • increase BERA utility and capital efficiency
  • The contract will deepen liquidity for BERA
  • The pool will be one of the main liquidity hubs for wgBERA which will be integrated in several Berachain dapps

Potential Volume / TVL

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

TVL estimate: $2,500,000

  1. Highlight any known liquidity commitments. (If you or partners plan to seed the contract, provide proof of funds or a statement of intent.

The pool has already been seeded by The Bullas, one of our strongest business partner, with more than 30,000 BERA. Another liquid fund has yet to come in, with an expected 100,000/150,000$ incoming, and Beranames is waiting for the pool to be whitelisted in order to play the Proof of Liquidity with their own treasury through this pool (they already converted a great amount of BERA, more than 10,000, in wgBERA).

3Synergies with other protocols

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

wgBERA will be integrated in yield aggregators, lending markets and derivatives protocol. Deep liquidity will be key for safe and successful integration.

  1. Marketing / Promotion

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

Yes, we have a long-term relationship with BurrBear and for them it will be one of the main pool to feature. We already did two tweets to showcase the pool and we’re planning to do more, also with an AMA on Discord together, to explain the characteristics and the benefit of LPing into a stable pool such as wgBERA/BERA.

  1. Long-Term Vision

  2. How could this reward vault evolve over time? (E.g., eventually becoming a core liquidity pair or a major stable pool for the chain.)

gBERA will be one of the core LSTs for the chain, integrated in multiple DEXs, lending markets, derivatives protocols and consumer applications. It will also be the backbone of Project Infinitee - the next iteration for Smilee, aka validator-as-a-service and custom LST for everyone (similar to Sanctum on SOL). Coming in Q2, this infrastructure will strongly leverage the deep liq and the importance of gBERA as the core asset of this project.

  1. Verification

  2. 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]”

https://x.com/SmileeFinance/status/1894812006252978578

7 Likes
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Sorry, previous post was a misplaced critique about liquid staking tokens in berachain but on a second look i had not fully researched the aspects of validator boost control gBera is mostly about. So I withdraw my comment.

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Smilee has a great vision - this is the most liquid BERA LST on the chain and deserves support. Their pool, through BurrBear, is an idea partnership and a whitelist here is a huge boost to two incredible projects at the same time. Definite thumbs up here.

1 Like
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Bullas deposited over 30k Bera into this pool. We‘d love to earn $BGT with it and use it to boost the validators of our partners Smilee, ApDao/Beradrome and Vase Finance. We don‘t have any plans to sell the BGT and will pass the yield earned by boosting to our holders using Kingdomly staking

6

Smilee Finance’s gBERA is, in my opinion, one of the more unique LSTs in that it targets $BERA and not $BGT.

Most other LSTs in the space have focused on making BGT liquid, and rightfully so, but Smilee seems to have gotten ahead of the game and focused on accumulating BERA instead–a very important move indeed for a Berachain validator.

I believe interest in gBERA will only increase as the POL game matures.

Having the wgBERA/wBERA pool be integrated into POL, to add the all important $BGT to the cycle, seems only fitting.

3 Likes
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i like burr, beraborrow and smilee

1 Like
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Best LST project ever(gay)

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Pool has been whitelisted