Inspired by the QIA-Strategy-Vault, the Henlo Incinerator leverages Proof of Liquidity to burn $HENLO bought from the market, rewarding all holders in the process. BGT emissions are minted as $iBGT, swapped for $xfatBERA, and used as incentives. A percent are automatically used to buy and burn $HENLO.
1. Proposer Details
- Proposer’s project name: Henlo
- Proposer’s email: jnova@0xhoneyjar.xyz
- Proposer’s X account: @henlo
- Best Telegram Handle for questions/fixes: @fungiblehuman
2. Protocol Details
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Your Protocol Name: HENLO
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Protocol Description: HENLO is a dumb memecoin built by @0xhoneyjar, designed to be widely integrated into Berachain PoL and across the DeFi ecosystem.
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Protocol URL: https://www.henlo.com
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Protocol Logo URL: https://drive.google.com/file/d/17c3hLF9FQkQHK4IEFWmcYQ39t8v_Bu_D/view?usp=drive_link
3. Reward Vault and Staking Token Details
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Vault Name: Henlo Incinerator
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Reward Vault Address: 0x9ffEC62263e8EAEd5Eaefb58CA9EA59fFa8039Fc
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Logo URL: https://drive.google.com/file/d/1GB0RvYLgvAoAvCCLx-gFCTgoxBmM0XDP/view?usp=drive_link
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Staking Token Address: 0x13c8a3cC75961Bcf82bEdA2193bbBF8eeD7ee23e
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Submit a Google Sheet link identifying addresses controlling more than 20% of the Staking Token supply. The staking token is 100% controlled by the Henlo Incinerator contract to manage the strategy. Instead here is a list of addresses controlling more of HENLO supply, as HENLO hodlers are the beneficiaries. HENLO Address Identification - Google Sheets
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Is the Staking Token located on BEX? No
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Specify the protocol where the Staking Token is located: Staking token lives in vault strategy manager contract and cannot be acquired by users. To benefit, users can acquire HENLO from Kodiak, Ooga Booga, MEXC, Ourbit, and other venues.
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Link to where the Staking Token is located: Kodiak Finance
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Existing Liquidity / TVL: $207k on Kodiak, more elsewhere
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Describe how a user should acquire this staking token: Users are not able to acquire the staking token, they must acquire HENLO to be rewarded from the buy and burn mechanism.
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Reward Duration address: 0x244160033f0946f264D1771904d1d554463d7359
4. Tokens Information
For each token in the pool/staking token, please provide
- Name: Henlo
- Symbol: HENLO
- Token Contract Addresses: 0xb2F776e9c1C926C4b2e54182Fac058dA9Af0B6A5
5. Incentive Tokens
Only up to three 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 Tokens:
- Name: Extra Fat BERA
- Symbol: xfatBERA
- Token Contract Addresses: 0xcAc89B3F94eD6BAb04113884deeE2A55293c2DD7
- Tokenomics, Distribution, and Vesting: xfatBERA is minted by wrapping fatBERA, which is minted by staking BERA. There was no initial distribution or other tokenomics.
- Identify any address(es) controlling more than 10%:
- Does the project issuing the token have any relationship with current Berachain validators? Yes
- If yes, which ones? The Honey Jar, Beradrome-x-apDAO, Berabaddies, and The Empty Jar
- Total Supply Cap (if any) n/a
- Circulating Supply: 4,456
- Token Type: LST
- If either token is a native stablecoin, LST, or governance token, provide extra details on Use case, Redemption mechanics, Peg stability: xfatBERA is an autocompounding wrapper for fatBERA, which is a BERA LST associated with a group of THJ-affiliated validators. xfatBERA peg is maintained through liquidity provisioning in a Kodiak Island and soon through redemptions. xfatBERA can be unwrapped to fatBERA, which soon will support validator staking withdrawals to redeem for BERA.
- Are token contracts upgradable? Yes
- Token Control: Multisig
- Is the token contract verified?: Yes
- Is the token a standard ERC20 or any functions have been customized? (e.g. transfer, balance, mint, burn…) It’s a standard erc20 receipt from a standard erc4626 vault
- Can the token be paused? Yes
Additional Requirements:
- Specify how many tokens per week you plan to allocate for incentives: 5,000+ BERA
- Specify for how many weeks you plan to allocate incentives: Ongoing
- Outline how decisions about token incentives are made (DAO, multi-sig, etc.).: Multisig
- Incentive Manager address: 0x244160033f0946f264D1771904d1d554463d7359
6. Growth, Community & Ecosystem Impact
Why This Contract Matters:
- BERA sink: BGT earned by the strategy will be locked in the incinerator strategy contract as BGT or BERA derivatives, reducing circulating supply
- PoL experimentation: HENLO built one of the largest communities both within and beyond Berachain’s existing user base. Henlockers have served as an onboarding event and educational tool into the possibilities of PoL, and this vault will extend that.
Potential Volume / TVL:
- We anticipate directly driving 5-figure daily volume to start, with the strategy manager adding to this total each week through compounding the iBGT premium. We anticipate seeing 2nd order effects of increased volume for HENLO and increased TVL for HENLO liquidity.
Synergies with Other Protocols:
- This contract feeds into the iBGT and fatBERA LSTs.
Marketing / Promotion:
- Co-marketing with THJ and Infrared.
Long-Term Vision:
- Building on the QIA-Strategy-Vault’s call for future projects to leverage the mechanism they designed, the Henlo Incinerator adds premium compounding and flexible LST selection. We see this as another step in a the ecosystem’s collaborative PoL experimentation and a showcase of why devs may choose Berachain to host their projects in the future.
7. Verification
Please post the following text with the provided X account:
“Submitted Reward Vault Request for Henlo Incinerator with incentive token xfatBERA”
- Insert X post link: https://x.com/henlo/status/1937616892212187580