Reward Vault Request for rBGT-WBERA

Reward Vaults
1

1. Proposer Details

  • Proposer’s project name
    • RootsFi
  • Proposer’s email
  • Proposer’s X account (you will be required to make a post from the X account provided for verification purposes)
  • Best Telegram Handle for questions/fixes (remember to enable DMs from non-contacts)
    • @meadgod

The proposer should be affiliated with the protocol or at least one of the tokens in the contract.

  1. Protocol Details
  • Your Protocol Name
    • RootsFi
  • Protocol Description
    • RootsFi is a PoL centric CDP Protocol that allows users to unlock liquidity via zero interest rates loans, and still earn yield on the underlying via rBGT.
  • Protocol audits links
  • Protocol URL (link to dApp)
  • Protocol Logo URL (image must be 1024x1024 and non-transparent)
  1. Reward Vault and Staking Token Details
  • Vault Name:
    • BEX - rBGT | WBERA 0.1% Pool
  • Reward Vault Address: (insert only the contract address)
    • 0xc88c6dc5201b1a3444b6582896c0a8819d9ef5b6
  • Logo URL: Vault Image 1024x1024 and non-transparent
  • Staking Token Address
    • 0xc7c4130aa5a5795a9131d69b19c3410f8c9ab42c
  • Is the Staking Token located on BEX?
    • Yes
  • Specify the protocol where the Staking Token is located
    • see above
  • Link to where the Staking Token is located
    • see above
  • Existing Liquidity / TVL (if it is a DEX pool the TVL should be at least $50K in a major ecosystem asset)
    • none
  • Describe how a user should acquire this staking token
    • A user can acquire this staking token by providing liquidity to the rBGT-WBERA pool, in which rBGT is earned by collateralizing major assets on rootsfi

4. Tokens Information

For each token in the pool/staking token, please provide

  • Name
    • roots Bera Governance Token (rBGT)
    • Wbera Token
  • Symbol
    • rBGT
    • WBERA
  • Token Contract Addresses (on Berachain and bridging addresses if cross-chain):
    chain / address
    • rBGT
      • Berachain / 0xDFafd1d988099cf29E34E37dB709583F98204Ef6

5. Incentive Tokens

Only up to 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 Tokens:

  • Name

    • WBERA Token / MEAD

  • Symbol

  • WBERA / MEAD

  • Token Contract Addresses (on Berachain and bridging addresses if cross-chain):
    chain / address

    • Berachain / 0x6969696969696969696969696969696969696969
      MEAD BERA / 0xEDB5180661F56077292C92Ab40B1AC57A279a396

  • Tokenomics, Distribution, and Vesting (links to official docs, website, etc.)

  • Identify any address(es) controlling more than 10%in un
    (address / type: team, foundation, investor, etc.)

  • Does the project issuing the token have any relationship with current Berachain validators?

    • no.

  • If yes, which ones?

  • Total Supply Cap (if any)

    • X

  • Circulating Supply

    • 21,710,913 WBERA / 458,000 MEAD

  • Token Type: Utility, governance / stable

  • If either token is a native stablecoin, LST, or governance token, provide extra details on

  • Are token contracts upgradable?

    • No

  • Token Control: (Multisig/Single Owner/RBAC/Permissionless/Governance)

    • Multisig

  • Additional details on Token Control

    • n/a

  • 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 is ERC20. An account with an admin role can mint, burn, block or manage supply.

    • Mint Role

      • userOps

    • Burn Role

      • userOps

    • Block Manager Role

      • n/a

    • Block Role

      • n/a

    • Supply Role

      • n/a
        Can the token be paused?

    • No
      Additional Requirements:

  • Specify how many tokens per week you plan to allocate for incentives

    • 1k $MEAD or WBERA per week.

  • Specify for how many weeks you plan to allocate incentives

    • At least 20 weeks.

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

    • Leadership

  • 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)

    • berachain:0x97b6d02c338504b77dECc9CA125b34C29F81Ce68

6. Growth, Community & Ecosystem Impact

Why This Contract Matters:

  • How will this contract benefit Berachain?

    • Though the TVL is very low on rBGT-WBERA, we believe that rBGT reward vaults will have significant impact on roots as it unlocks yet another yield layer on top of the already existing BGT yield from BEX specifically. RootsFi only allows BEX LPs to be deposited into the collateral pool. The rBGT pool is a layer on top of the existing yield. RootsFi allows users to currently earn 50% APR on stables, which is mostly utilized through BYUSD and USDCe. On top of that users could now earn the BGT yield + the RV yield on the LP. The native BGT is locked in the roots BGTHandler and utilized in securing the network via boosts on validators.

      This will allow roots to continue growing the TVL which has shrunk quite a bit due to the missing yield layer, and could now boost even beyond the given 7-20% APR on BEX via major collateral assets.

      with a supply of only 5K rBGT (worth $13K USD today) and a backing of over 7K BGT (Worth almost $20K today), roots is set to allow a beyond triple digit APR on BGT emissions if the reward vault is granted. The only way rBGT can be claimed is through our collateral pool, which means the liquidity on BEX needs to grow in order to unlock further yield, OR the users would have to acquire rBGT on the open market which would boost yields even further, allowing roots users to offset rBGT at a premium.

      This is not only big for BEX as the native DEX on Berachain, but also allows roots to become one of the leading protocols on berachain with this additional yield layer.

  • Will it deepen liquidity for a major ecosystem token (e.g., BERA, core stable asset)?
    • Yes, BYUSD, USDCe, WBERA, WETH and WBTC.
  • Does it enable important trading pairs that drive adoption or integrate with other Berachain projects?
    • Yes

Potential Volume / TVL:

  • Provide metrics or estimates on liquidity you expect to attract.
    • The current supply on an LP pair (rBGT-WBERA) could easily cross $50K intraday. We have about $13M in volume on MEAD, we had over $2M in TVL in the first 30 days, we expect TVL to grow from here ($690K/$1.1M).
  • Highlight any known liquidity commitments. (If you or partners plan to seed the contract, provide proof of funds or a statement of intent.)
    • One unannounced commitment / deal on a grant scale (non rBGT, but rBGT supply increasing deal)

Synergies with Other Protocols:

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

    • Yes, expecting several partners of roots to implement.

      Marketing / Promotion:

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

    • No co marketing plans

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.)

    • The high APR on the wrapper could spark interest in roots, the utilization of 0% interest loans and yield strategies growing not only the TVL of roots, but also grow interest on Berahub / BEX as the native DEX + regain its momentum in terms of TVL for major assets.

      The reward vault adds another layer of yield which is crucial for the users of roots to compete with high yield earning stablecoins on other chains.

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]”

Additional comments to the Guardians:

rBGT supply is depending on the BEX APR on major pools, hence the low TVL on the pool. rBGT redemption are expected within days, in which we will allow roots users to redeem their rBGT for BERA as the underlying / backing. The BGT from the BGTHandler will be burned 1:1 from BGT to BERA for this instance.

The rBGT-WBERA pool is the last piece in the puzzle to enable a fully POL aligned stablecoin protocol. Please consider this for the final decision.

rBGT has low utilization rate due to rBGT being a non redeemable wrapper and no incentives to LP at the moment.

Final Reminder

A successful RFRV hinges on demonstrating:

  1. Security: Low smart contract and token risk.
  2. Demand: Community and liquidity providers want this pair.
  3. 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!

RFRV Batch 24 Results | Data Analytics Tool RFP Update
RFRV Batch 25 Results | Data Analytics Tool RFP Update
2

Hi team, at the time of review, the following concerns were identified:

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 appropriate updates, this application would be in a better position for Reward Vault consideration.

3

Good morning,

We are aware of the TVL requirements as stated in the proposal. The incentives can be upped if roots sees revenue growth through boosts / mint fees and obviously depends on mercenary capital utilization.

The incentives duration manager is the same as the multisig mentioned above.

Kind regards,

Ozzy

4

Hi @ozzy - Thank you for the clarification and additional details. We understand the considerations around TVL requirements and incentive commitments; however, both are hard requirements that cannot be waived and must be satisfied at the time of council voting.

1 Like
5

Roger that,

Thanks to the Council regardless. Will dial back once requirements are hit.