Reward Vault Request for wBTC/eBTC 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
- Email: charles@ether.fi
- Proposer’s project name: ether.fi
- Proposer’s X account (you will be required to make a post from the X account provided for verification purposes): https://x.com/ether_fi
- Best Telegram Handle for questions/fixes: @CMountainIV
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): ether.fi
- Protocol Details
- Protocol Name: Kodiak
- Protocol Type: DEX
- Protocol X profile link: https://x.com/KodiakFi
- Protocol docs link: https://documentation.kodiak.finance/
- Protocol audits links: Audits | Kodiak Finance
- Does the protocol have any relationship with current Berachain validators?: No
- Contract/Pool Details
- Contract Name: wBTC/eBTC
- Contract Address: https://beratrail.io/address/0x02eeb6edc9f0d9b19742266fd7a4621267510710
- Contract Type / Configuration: Uni v3 AMM
- Describe how the contract works: LP token can be minted/burned by providing or withdrawing liquidity into the liquidity pool
- Contract Fees: 0.05%
- Existing Liquidity / TVL: $120M
- Identify any address(es) controlling more than 10% of the contract shares: 0x46fcd35431f5B371224ACC2e2E91732867B1A77e (Ether.fi Bera BTC Vault)
- Is the contract upgradable?: Veda Risk Structure - Architecture Overview | Veda
- Contract Control: Multisig
- Is the contract verified?: Yes
- Can the contract be paused?: Yes, dependent on alerts from Hyper Native security monitoring system and other risk control systems in place for asset management
- Does the contract rely on oracles?: No
4. Token Details
Provide the following details for each token in the contract (up to 5):
For Major Tokens:
- Name: wBTC
- Symbol: wBTC
For Non-Major Tokens:
- Name: ether.fi BTC
- Symbol: eBTC
- Contract Addresses (on Berachain and bridging addresses if cross-chain): 0x657e8C867D8B37dCC18fA4Caead9C45EB088C642
- Tokenomics, Distribution, and Vesting (links to official docs, website, etc.): Getting Started | ether.fi
- Identify any address(es) controlling more than 10%: 0x46fcd35431f5B371224ACC2e2E91732867B1A77e (Ether.fi Bera BTC Vault)
- Does the project issuing the token have any relationship with current Berachain validators?: No
- Total Supply Cap: N/A
- Circulating Supply: 3,034.76
- Token Type: LRT
- Provide extra details (e.g. Use case, Redemption mechanics, Peg stability): Natively minted on Berachain with wBTC or bridged via LayerZero. Peg kept through liquidity provisioning, and BTC assets fully backed by underlying BTC via Veda Vault
- Are token contracts upgradable?: Ether.fi Risk Structure - Audits | ether.fi
- Token Control: Multisig
- Is the token contract verified?: Yes
- Is the token a standard ERC20 or any functions have been customized?: 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:
-
Name: Bera
-
Symbol: Bera
-
Name: wBTC
-
Symbol: wBTC
Additional Requirements:
- Specify how many tokens per week you plan to allocate for incentives: 1 wBTC per week target for incentives
- Specify for how many weeks you plan to allocate incentives: 3 month initial duration with target to renew & adjust incentives
- Outline how decisions about token incentives are made (DAO, multi-sig, etc.): DAO (Reward Seasons)
- 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): 0x46fcd35431f5B371224ACC2e2E91732867B1A77e
6. Growth, Community & Ecosystem Impact
Why This Contract Matters:
- How will this contract benefit Berachain?: Supporting liquidity for eBTC is the foundation to scale growth on other markets such as Borrow/Lend & Yield Trading.
- Will it deepen liquidity for a major ecosystem token (e.g., BERA, core stable asset)?: Yes wBTC
- Does it enable important trading pairs that drive adoption or integrate with other Berachain projects?: Yes, it will drive the adoption of eBTC on-chain, which is currently the largest non-core BTC denominated asset.
Potential Volume / TVL:
- Provide metrics or estimates on liquidity you expect to attract: Expect $150M+ in liquidity
- Highlight any known liquidity commitments. (If you or partners plan to seed the contract, provide proof of funds or a statement of intent.): Ether.fi Liquid Bera BTC vault will seed capital
Synergies with Other Protocols:
- Will this contract feed into any yield aggregators, lending markets, or liquid staking derivatives on Berachain?: Yes it will feed into liquidation engines for other lending markets and provide a stable peg.
Marketing / Promotion:
- Are there plans to co-market with another project to bootstrap liquidity?: Yes, co-marketing with Kodiak, Infrared, Dolomite, and other partner dapps.
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.): eBTC is positioned well to remain the dominant form of BTC on Berachain bringing users an efficient and high yielding asset to use as collateral across DeFi. Proof of Liquidity will serve as our core hub of driving capital efficient spend to tap into the flywheel of Berachain’s growth engine.
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]”
TBD
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!
