Reward Vault Request for Henlockers

Reward Vaults
1

henlo, and furthermore lock in.
a set of 5 reward vault requests for 5 henlockers.

henlock
henlock1100×1100 112 KB

1. Proposer Details

  • Email: jnova@0xhoneyjar.xyz
  • Proposer’s project name: The Honey Jar
  • Proposer’s X account: @fungiblehuman
  • Best Telegram Handle for questions/fixes: @fungiblehuman
  • Affiliation: Henlo
  1. Protocol Details
  1. Contract/Pool Details
  • Contracts:
    • Henlocked100m: 0xE2e0CF6b322a1e46210C7E6D95152a42f745ED2B
    • Henlocked330m: 0xC5CBAFB021395f62629CB9Cfa77075a7616280F0
    • Henlocked420m: 0xdeA178B1a4b63aa5d9d8EBCa7eB4957D1BE2BF53
    • Henlocked690m: 0xF2E8E6caDc4097260Ef16EA25036460FD447f48f
    • Henlocked1b: 0xac674B243b9b427203E3cb7c9fc6f4e0163fe08B
  • Contract Type / Configuration: Custom contract
  • Describe how the contract works: $henlocked tokens are minted when users deposit $henlo tokens into our henlocker vault contract, which locks deposited $henlo until it reaches the specified fully diluted value. Any time after that, depositors can burn their $henlocked to withdraw their $henlo tokens.
  • Contract Fees: No fees
  • Existing Liquidity / TVL: $3,429,500
  • Identify any address(es) controlling more than 10% of the contract shares: Henlo foundation treasury
  • Is the contract upgradable?: No
  • Contract Control: Permissionless
  • Additional details on Contract Control: n/a
  • Is the contract verified?: Yes
  • Can the contract be paused?: No
  • Does the contract rely on oracles?: No
  • What is the staking token’s contract address for this reward vault? 0x437F681fC3c71C21Eb3033a14b7590b4CDCA329B
  • Describe how a user should acquire this staking token Deposit $henlo on henlo 🐼⛓️🧲 and choose an FDV target

4. Token Details

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

For Non-Major Tokens:
  • Name: henlo
  • Symbol: HENLO
  • Contract Addresses (on Berachain and bridging addresses if cross-chain): 0xb2F776e9c1C926C4b2e54182Fac058dA9Af0B6A5
  • Tokenomics, Distribution, and Vesting: https://paragraph.xyz/@henlo/preview/KVyfOVvM8g1LZxIQoveb
  • Identify any address(es) controlling more than 10%: Address Identification Template - Google Sheets
  • Does the project issuing the token have any relationship with current Berachain validators?: Yes
  • If yes, which one?: The Honey Jar
  • Total Supply Cap (if any): 100,000,000,000
  • Circulating Supply: 34,719,243,789
  • Token Type: Memecoin
  • Provide extra details: n/a
  • Are token contracts upgradable?: No
  • Token Control: Multisig
  • Additional details on Token Control: 3-of-4 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…): ERC20
  • Can the token be paused?: No

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:

  • HENLO (described above)
  • BERA

6. Growth, Community & Ecosystem Impact

Why This Contract Matters:

Henlockers debut THJ’s new price-locker technology.

It’s a novel alternative to timelocks, and is useful across several disciplines including memetics aka doing funny things on-chain, cult formation aka identifying and rewarding loyal users, and tokenomics aka designing and scheduling supply sinks & token unlocks.

All of the above are well-aligned with Berachain as the premier playground for infinite money games.Henlo is positioned as the soon-to-be most widely integrated token on Berachain outside of the native trinity & established major collateral.

It has already been responsible for onboarding thousands of established users onto Berachain to complete their first transactions, and will continue to roll out a range of targeted integrations specifically designed to activate high-value cross-chain users.

Potential Volume / TVL:

Based on current $henlo price, the potential TVL is $7,125,000, or much more when $henlo moons. Our liquidity commitment is 1:1 redemption for $henlo any time after the unlock FDV is reached.

Synergies with Other Protocols:

  • Will this contract feed into any yield aggregators, lending markets, or liquid staking derivatives on Berachain? This contract is a Beradrome plugin, allowing depositors to stack oBERO and BGT rewards.

Marketing / Promotion:

  • Are there plans to co-market with another project to bootstrap liquidity? The Honey Jar, Beradrome, and others to be announced.

Long-Term Vision:

  • How could this reward vault evolve over time?: This first set of 5 Henlockers are a proof of concept. We expect them to be short-lived as all unlocks will be met soon. We plan to introduce new chaos to the existing Henlockers and build on the Henocker concept with more functionality and chaos to come.

7. Verification

9 Likes
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Yes plz! Love me some henlocking

3

henlo
this is new type of liquidity reward vault
not time based, value based locker to incentivize

1 Like
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Apologies, I forgot to include the incentive info above.

The request the 2 eligible incentive tokens to be $BERA and $HENLO.

We are not ready to announce $BERA incentive offers, but want to maintain this flexibility for the future.

Initially, all incentives will be in $HENLO. We will dedicate 5 million $HENLO to incentivize each Henlocker per week, Aka $25 million $HENLO per week in total across the 5 Henlockers, until each Henlocker’s unlock FDV is reached.

Henlo, and furthermore ooga booga.

2 Likes
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Some updates on this application:

In light of the new RV guidelines, we have been in close discussion with members of the BGT Foundation, and have also sought advice from members of the Berachain Foundation, on how we can make sure that these Henlocker reward vaults support the goals of both henlo and Berachain simultaneously. Henlo has always positioned itself as Berachain’s canonical memecoin, and it is only interested in utilizing proof of liquidity in a way that will contribute to the growth of the ecosystem on which it depends.

To that end, we have decided to make the following commitments to the community:

  1. HENLO should maintain at least $400,000 of DEX liquidity for every $20m of TVL, ensuring price can not be artificially manipulated with ultra-thin liquidity to “hack” the bribe rate

  1. Henlockers can lock a maximum of 15% of HENLO supply in rewards vaults, ensuring HENLO proces to have real demand and purpose beyond farming BGT rewards

  2. Henlockers can lock a maximum of 20% of supply in any locker products, and commits to no bundling / liquidity concentration outside of lockers, ensuring HENLO supply is not overly controlled for artificial price growth

  3. HENLO will simultaneously incentivize both its single sided locker RVs and a liquidity pool RV, ensuring the HENLO project as a whole is oriented around driving BERA demand

We feel that these commitments alleviate any concerns about structural risks that single sided vaults and lockers can pose to BGT distribution, via repeatable standards and not merely relying on henlo and THJ’s reputations. Furthermore, we encourage other projects in the ecosystem to consider similar commitments to guarantee alignment and mutual success.

1 Like
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Please note these contract addresses have changed. Same code, new deployments:

Contracts:

  • Henlocked100m: 0x8412561FADDD6C85F5a17e07E0F29428B813E69B
  • Henlocked330m: 0xA713816E8d190EFdf35d66b723eb63f8c8c4d5D2
  • Henlocked420m: 0x15970fcf2dbb9FfCC4e2f79c3Fd777B871540D5b
  • Henlocked690m: 0x610b6A27A3A83Cea0574C5001F30d9EEA3699b1a
  • Henlocked1b: 0xA6A3E6fb89FA4C6554e82D05b449639EeBfc564f
2 Likes
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Thanks for the proposal.

The proposed considerations and commitments appear to be well-reasoned and rational, in light of the potential risks of a single sided vault incentivizing locked capital. We would recommend closely monitoring flows (of HENLO coming in, and BGT/BERA coming out) in order to ensure that it doesn’t encourage any sort of potentially mercenary activity.

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 following changes implemented, this application should be a better candidate for a Reward Vault.

2 Likes
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@foundation the wrong contract addresses have been whitelisted. Because the original post is not editable on this forum, I posted the linked reply with the correct addresses. It seems the reply was overlooked. We need to decommission the whitelisted RVs, withdraw the incentives that we already added to them, and WL these contracts instead, ASAP please.