1. Proposer Details
- Email: hello@zerolend.xyz
- Proposer’s project name: Steven Enamakel
- Proposer’s X account (you will be required to make a post from the X account provided for verification purposes): https://x.com/senamakel
- Best Telegram Handle for questions/fixes: @deadshotryker
- Affiliation (protocol / one of the tokens in the contract): ZeroLend / Euler
- Protocol Details
- Protocol Name (Example: XYZ DEX):
- Euler
- Protocol Type (DEX/Lending/Staking/Derivatives/Other):
- Lending
- Protocol X profile link:
- Protocol docs link:
- Protocol audit links (multiple links):
- Does the protocol have any relationship with current Berachain validators?
- No
- Contract/Pool Details
- Contract Name:
- EVK Vault eNECT-1
- Contract Address:
- 0x112B77A77753b092306b1c04Bd70215FeD4e00a1
- 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:
- 20% of borrow interest is split 50/50 between the protocol & market curator
- Existing Liquidity / TVL: current liquidity and volume stats (if applicable).
- 10k NECT
- Identify any address(es) controlling more than 10% of the contract shares
- 0x6aac0942B8147BffAB73789a82EE12fDA7735BAc - holds >50% (as the incentives start, this will get more distributed
- Is the contract upgradable?
- Yes - proxy contract
- Contract Control:
- Multisig
- Additional details on Contract Control:
- 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 eOeacle
4. Token Details
Provide the following details for each token in the contract (up to 5):
For Major Tokens:
Token 1:
- Name: Nectar
- Symbol: NECT
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: POLLEN
- Symbol: POLLEN
Additional Requirements:
- Token Address
- 0xC99e948E9D183848a6c4F5E6C1d225F02f171d79
- Tokenomics, Distribution, and Vesting (links to official docs, website, etc.)
- Identify any address(es) controlling more than 10% (address / type: team, foundation, investor, etc.)
- Here Investors/Team/Future Incentives
- Does the project issuing the token have any relationship with current Berachain validators?
- Yes
- If yes, which one?: Infrared, Kodiak, THJ and many more.
- Total Supply Cap (if any) and Circulating Supply
- 420,000,000
- Total Supply Cap (if any): 420,000,000
- Circulating Supply: 41850000 (at time of writing)
- Token Type (Governance, Utility, Memecoin, Stablecoin, LST, Other):
- Governance
- If either token is a native stablecoin, LST, or governance token, provide extra details on Use case, Redemption mechanics, Peg stability
- 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)
- Permissionless
Required Data for Incentive Token 2:
- Name: Reward EUL
- Symbol: rEUL
- Token Address
- 0x56C44d2F484A61ce92Fa0BCc849feB37aBfeB59C
- Tokenomics, Distribution, and Vesting (links to official docs, website, etc.)
- Identify any address(es) controlling more than 10% (address / type: team, foundation, investor, etc.)
- None
- Does the project issuing the token have any relationship with current Berachain validators?
- No
- Total Supply Cap (if any) and Circulating Supply
- For underlying EUL: total supply 27,182,818, circulating 18,685,530
- Token Type (Governance, Utility, Memecoin, Stablecoin, LST, Other):
- Governance
- If either token is a native stablecoin, LST, or governance token, provide extra details on Use case, Redemption mechanics, Peg stability
- Primarily used as governance token, also used as fee buyback mechanism, details here - Fee Flow: Euler’s Approach To Navigating Fee Accumulation - Euler Finance
- Are token contracts upgradable?
- No
- Token Control: (Multisig/Single Owner/RBAC/Permissionless/Governance)
- Multisig
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…) (If custom, provide a link to an audit.)
- Some customization for unlock mechanism - audit can be found here evk-periphery/audits/yAudit rEUL ERC20 Wrapper Locked.pdf at master · euler-xyz/evk-periphery · GitHub
- Can the token be paused?
- No
Additional Requirements:
- Specify how many tokens you plan to allocate for incentives and over what period of time.
- $5,000-$10,000 worth of rEUL and POLLEN per week for the first 6 months, which will be modified depending on effectiveness of incentives
- Outline how decisions about token incentives are made (DAO, multi-sig, etc)
- Campaign effectiveness is analyzed based on market APY, decided by DAO + market curator in tandem
- Incentive Manager address:
- 0xcB270eDF6571e59F09cA2cc426a9c52c4Bb32894
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 NECT, but the cluster includes other major tokens (BERA, USDC, etc). The goal is to stimulate the lending/borrowing activity for NECT.
- Does it enable important trading pairs that drive adoption or integrate with other Berachain projects?
- This ZeroLend 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 ~$20mm TVL for this particular cluster.
- Highlight any known liquidity commitments. (If you or your partners plan to seed the contract, provide proof of funds or a statement of intent.)
- We expect to bootstrap approximately 500k$ of liquidity into this vault from the BeraBorrow team.
- 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