IVX IVLP (non-BEX) RFRV
Reward Vault Request for [IVX - IVLP]
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
- Email: 0xmughal@ivx.fi
- Proposer’s project name: IVX
- Proposer’s X account (you will be required to make a post from the X account provided for verification purposes) https://x.com/ivx_fi
- Best Telegram Handle for questions/fixes: @wajmug / @bobdbldr
The proposer should be affiliated with the protocol or at least one of the tokens in the contract.
For example if the contract is a $EXAMPLE / $BERA pool on XYZ DEX, the proposer should be affiliated with the protocol (XYZ DEX) or one of the tokens in the pool (in this case, $EXAMPLE).
- Affiliation (protocol / one of the tokens in the contract). Yes - Derivatives (options)
2. Protocol Details
- Protocol Name: IVX
- Protocol Type: Derivative Protocol
- Protocol X profile link: IVX X Account
- Protocol docs link: IVX Documentation
- Protocol audits links (multiple links): IVX Audits
- Does the protocol have any relationship with current Berachain validators?: No
- Contract/Pool Details
- Contract Name: IVLP
- Contract Address: 0x3b8B155E3C44f07f6EAd507570f4047C8B450A7F
- Contract Type / Configuration: Vault based ERC20: IVLP is an index based contract containing wBTC, wETH, wBERA and HONEY. Users can deposit any of these assets into the index and receive IVLP. On withdrawal, assets from the index are returned.
- IVLP units can be minted via the earn tab on the Diem Webapp. They can also be returned when users want to withdraw their assets from the index on the same page.
- Contract Fees: IVLP has a deposit fee, dynamic in nature depending on the weights of tokens.
- Existing Liquidity / TVL: $100k in TVL
- Identify any address(es) controlling more than 10% of the contract shares
Current TVL is all protocol owned liquidity, this will increase when the users have access next week - Is the contract upgradable? Yes
- Contract Control: Multisig - 0xa0eadB5e8758F65FBa176A3731d90543096C4c9e
Additional details on Contract Control
- Is the contract verified? No
- Can the contract be paused? Yes
- Does the contract rely on oracles? Oracles are needed for the asset index prices through - BERA/BTC/ETH. Using Pyth and Stork network oracles for this.
4. Token Details
Provide the following details for each token in the contract (up to 5):
For Non-Major Tokens:
- Name: IVLP
- Symbol: IVLP
- Contract Addresses: 0x3b8B155E3C44f07f6EAd507570f4047C8B450A7F
- Tokenomics, Distribution, and Vesting:
- Identify any address(es) controlling more than 10% - Team controls 100% ($100k in TVL so far).
- Does the project issuing the token have any relationship with current Berachain validators? No
- Total Supply Cap - none
- Circulating Supply - 100,000
- Token Type: Liquidity token
- IVLP is the counter party to the traders on IVX’s Diem. It can be minted and redeemed based on it’s 4 token index (wBTC, wETH, wBERA and HONEY).
- Are token contracts upgradable? Yes
- Token Control: 0x53E10E2e843fADdD6711089B97074C3a8aC0eb37
- Is the token contract verified? No
- Is the token a standard ERC20 or any functions have been customized? Standard ERC20
- Can the token be paused? Yes
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:
- Name: HONEY + BERA
- Symbol: HONEY + BERA
Additional Requirements:
- Specify how many tokens per week you plan to allocate for incentives
We are planning to use 50% of all fees generated from Diem 0dte options to bribe every epoch.
In terms of BERA, approx 20,000 BERA for IVLP - over 12 months+ but with a step wise approach based on TVL. Initially using a weighted increase in the BERA incentives over time based on IVLP TVL metrics.
- Specify for how many weeks you plan to allocate incentives
- HONEY incentives this will be a perpetual allocation that IVX offers to validators for BGT
- In terms of BERA, 12 months initially.
- Outline how decisions about token incentives are made (DAO, multi-sig, etc.) Multi-Sig
- 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). 0xa0eadB5e8758F65FBa176A3731d90543096C4c9e
6. Growth, Community & Ecosystem Impact
Why This Contract Matters:
- How will this contract benefit Berachain?
Being able to earn BGT through IVLP increases the opportunity for users to earn through index based assets like IVLP which will also deepen the liquidity for option trading on IVX creating a better ecosystem and experience for users looking to trade 0dtes on BERA, BTC and ETH. - Will it deepen liquidity for a major ecosystem token (e.g., BERA, core stable asset)?
Not spot, but for options on BERA, absolutely! - Does it enable important trading pairs that drive adoption or integrate with other Berachain projects?
Yes, especially because not only will it make trading BERA options better, but also IVLP is the first of its kind on Berachain giving users the ability in future to use this ERC20 on other Berachain ecosystem protocols as collateral as well as trading it on a DEX.
Potential Volume / TVL:
- Provide metrics or estimates on liquidity you expect to attract.
Initially looking to fill $1m in TVL before increasing caps. We can expect to see $10m plus once the full effects of BGT and caps get increased. - Highlight any known liquidity commitments. (If you or partners plan to seed the contract, provide proof of funds or a statement of intent.) $100k in Protocol owned liquidity for now.
Synergies with Other Protocols:
- Will this contract feed into any yield aggregators, lending markets, or liquid staking derivatives on Berachain?
In future yes, as we look to expand IVLP to be used as a collateral and DEX LP asset
Marketing / Promotion:
- Are there plans to co-market with another project to bootstrap liquidity?
Only through our existing relations with other projects which you’ll see on X in the form of videos, articles, tweets and more!
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.)
IVLP can become one of the biggest and most important assets within the Berachain ecosystem, already being the first of its kind through its index based composition. We feel these instruments with real yield will gain popularity on Berachain as users look to get an ideal weighted portfolio exposure but with the added benefits of real yield that you can get through IVLP.
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]”
Final Reminder
A successful RFRV hinges on demonstrating:
- Security: Low smart contract and token risk.
- Demand: Community and liquidity providers want this pair.
- Ecosystem Benefit: Increases volume, TVL, or strategic positioning for Berachain.
Make sure to cover these points clearly to maximize your chances of passing the governance vote / RFRV!