Reward Vault Request for stBGT / BERA Pool on Kodiak

Reward Vaults
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Reward Vault Request for stBGT / BERA Pool on Kodiak

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

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)

Growth Lead at Stride Labs, primary developers of the Stride BGT liquid staking protocol and stBGT

  1. Protocol Details
  1. Contract/Pool Details

  • Contract Name (Example: $EXAMPLE / $BERA)

    • stBGT / BERA

  • Contract Address: Insert the contract address.

    • 0x8b161685135e9fbc5475169e1addc0f2c4b7c343

  • Contract Type / Configuration: Is it a standard AMM pool, a lending pool, a derivatives pool, a custom contract

    • AMM pool

  • Describe how the contract works (e.g., how to mint and redeem shares of the contract, if tokens can be exchanged within the contract…)

    • Depositing liquidity in the supported assets allows LP tokens to be minted. LP shares are redeemed when the user withdraws liquidity from the pool

  • Contract Fees: Outline the fee structure (e.g., 10% of staking rewards)

    • Swap fee. 0.3%

  • Existing Liquidity / TVL: current liquidity and volume stats (if applicable).

    • Latest stats can be found here: Kodiak Finance. The pool was just launched. We plan to direct liquidity to this pool by adding it to Stride’s points program.

  • Identify any address(es) controlling more than 10% of the contract shares
    (address / type: team, protocol-owned liquidity, etc.)

    • N/A

  • Is the contract upgradable?

    • No

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

    • RBAC

  • Additional details on Contract Control

  • Is the contract verified?

    • Yes

  • Can the contract be paused?

    • Yes

  • Does the contract rely on oracles?

    • (If yes, explain oracle dependency)
    • No

4. Token Details

For Major Tokens:
  • Name
    • WBERA
  • Symbol
    • WBERA
For Non-Major Tokens:

  • Name

    • stBGT

  • Symbol

    • stBGT

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

    • 0x2CeC7f1ac87F5345ced3D6c74BBB61bfAE231Ffb

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

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

    • BEX Pool: 0xb66d97C1dE2BC2b61EEf8EF9c761a87521DF207d
    • stBGT staking contract: 0x4Be03f781C497A489E3cB0287833452cA9B9E80B

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

    • Stride delegates BGT to 8 Berachain validators currently, with plans to expand this over time, but these validators are otherwise independent from Stride. Their nodes aren’t owned by / whitelabeled for Stride.

  • If yes, which one?

    • Stakecito, Coinage x DAIC, InfStones, Validation Cloud, Enigma, TTT VN, NodesGuru, Rhino

  • Total Supply Cap (if any)

    • N/A

  • Circulating Supply

    • 79,600 at time of writing (increasing as new deposits come in)

  • Token Type:
    (Governance, Utility, Memecoin, Stablecoin, LST, RWA, Other)

    • LST

  • Provide extra details (e.g. Use case, Redemption mechanics, Peg stability)

    • stBGT is a transferable version of BGT. It can be LPed, used as collateral, or staked in the stBGT staking contract to earn HONEY staking rewards. stBGT is redeemable for BERA on a 1:1 basis at any time (this feature is live), protecting against depegs to the downside. Given the nontransferrability of BGT, stBGT can only be acquired by purchasing it or earning it via reward vault deposits. This has caused stBGT to trade at a slight premium to BERA (currently appx 1.3:1)

  • 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.)

    • Standard ERC20

  • Can the token be paused?

    • Minting can be paused

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

  • Symbol

  • (if the name and symbol match one of the tokens already provided or a major token, skip the next steps)

  • USDC and stBGT will be the incentive tokens

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

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

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

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

  • Total Supply Cap (if any) and Circulating Supply

  • Token Type:
    (Governance, Utility, Memecoin, Stablecoin, LST, Other)

  • If either token is a native stablecoin, LST, or governance token, provide extra details on Use case, Redemption mechanics, Peg stability

  • Are token contracts upgradable?

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

  • Additional details on Token Control

  • Is the token contract verified?

  • 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.)

  • Can the token be paused?

Additional Requirements:

  • Specify how many tokens you plan to allocate for incentives and over what period of time.
    • 50% of all LP fees will be redirected as incentives per Kodiak, plus 50,000 USDC over 10 months, plus 200,000 USDC via Stride’s points program over roughly 45 days (depending on when the whitelisting occurs).
  • Outline how decisions about token incentives are made (DAO, multi-sig, etc.).
    • Stride core team wallet
  • 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)
    • 0x2678AFE043636b66bfe4e0f2873d0EfF8cC05C18

6. Growth, Community & Ecosystem Impact

Why This Contract Matters:

  • How will this contract benefit Berachain?
    • stBGT acts as an alternative to Infrared’s iBGT, giving users additional options and preventing over-centralization of BGT vote power on a single liquid staking provider, helping to make Berachain more decentralized. stBGT unlocks millions (billions in the long-term as more BGT is emitted) of dollars in otherwise inaccessible BGT liquidity for use in Berachain DeFi, helping to further perpetuate Berachain’s proof of liquidity mechanism and keeping BGT tokens staked in lieu of being burned for BERA. Since BGT cannot be purchased directly, new entrants to Berachain will purchase stBGT as a way to gain exposure to BGT. This should lead to high volumes on Kodiak, directly supporting multiple native berachain protocols.
  • Will it deepen liquidity for a major ecosystem token (e.g., BERA, core stable asset)?
    • Yes. stBGT is paired against BERA, which will deepen liquidity for BERA.
  • Does it enable important trading pairs that drive adoption or integrate with other Berachain projects?
    • Yes! This stBGT / BERA pool will be a primary oracle / liquidation route for stBGT, which will help facilitate collateral integrations with projects like Beraborrow, Dolomite, and other lending markets. BGT emissions will directly increase market depth for this pool, making it possible for these lending markets to set higher deposit caps and LTV ratios. This will increase overall usage of these applications.

Potential Volume / TVL:

  • stBGT supply currently grows at a rate of approximately 6000 stBGT per day due to the $40 million in deposits into Stride’s smart contracts. Liquidity is currently incentivized via a $200k USDC airdrop incentive on the BEX pool (appx 55% APR). This will be expanded to the Kodiak island

  • With only 78 BGT in daily emissions and assuming equivalent yield compression, liquidity is expected to double from $377,000 to $750,000.

  • We expect to attract approximately 2000 BGT in daily emissions in the short term from a combination of these incentives and agreements with Berachain validators, leading to an estimated $6 million to $14 million in liquidity as more stBGT is emitted.

    • This would also lead to an estimated $200 million+ in vault deposit TVL as depositors add liquidity to the Stride vault in order to arb the stBGT premium created by the BGT emissions APR.
    • In this scenario, volumes are expected to range from $1-2 million per day in the stBGT pool.

  • Highlight any known liquidity commitments. (If you or partners plan to seed the pool, provide proof of funds or a statement of intent.)

    • N/A. All of Stride’s $37 million in deposits have been organic and driven by the $200k airdrop incentive and stBGT’s premium. We expect this growth to continue after the airdrop concludes, as stBGT is an attractive token to farm and hold relative to raw BGT.

Synergies with Other Protocols:

  • Will this pool feed into any yield aggregators, lending markets, or liquid staking derivatives on Berachain?
    • Yes. This pool will be the primary oracle / liquidation route for stBGT, which will help facilitate collateral integrations with projects like Beraborrow, Dolomite, and other lending markets.
    • We’re also talking with yield aggregators like weBERA to incorporate stBGT farming and staking strategies into their products, including this BEX pool.

Marketing / Promotion:

  • Are there plans to co-market with another project to bootstrap liquidity?
    • Yes. We plan to co-market with Kodiak

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.)
    • We expect BGT LSTs like stBGT and iBGT to be the denominations of choice for Berachain users seeking to earn BGT emissions. As such, this pool has the potential to be a primary incentives conversion pool for Berachain, routing volume from BGT emissions into hundreds of assets on BEX and other AMMs on the chain.
    • In the future, Stride could reallocate a portion of HONEY rewards received by stBGT stakers to incentivize the reward vault, helping the pool remain sustainable in the long-term.

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

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!

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Pool has been whitelisted Stride - stBGT | BERA | Reward Vault | BeraHub