RFRV: BREAD Single Sided Staking

Reward Vaults
1

Reward Vault Request for BREAD single sided staking

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): Protocol
  1. Protocol Details
  1. Contract Details
  • Contract Name: BREAD
  • Contract Address: 0x0003eedfdd020bf60d10cf684abac7c4534b7ead
  • Contract Type / Configuration: ERC-20 token
  • Describe how the contract works: An ERC-20 token with custom functions, such as minting/burning on a bonding curve
  • Contract Fees: 2.69% on minting and burning
  • Existing Liquidity / TVL: $1M
  • Identify any address(es) controlling more than 10% of the contract shares: The liquidity pool
  • Is the contract upgradable?: No
  • Contract Control: Multisig
  • Is the contract verified?: Yes
  • Can the contract be paused?: No
  • Does the contract rely on oracles?: No

4. Token Details

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

Please note that this is NOT a proposal for an external staking contract, this is a proposal for direct staking of BREAD in the Berachain reward vault

Token Details:
  • Name: BREAD
  • Symbol: BREAD
  • Contract Addresses (on Berachain and bridging addresses if cross-chain): 0x0003eedfdd020bf60d10cf684abac7c4534b7ead
  • Tokenomics, Distribution, and Vesting (links to official docs, website, etc.): Baking and Burning | Baker DAO
  • Identify any address(es) controlling more than 10%: liquidity pool, yield farm
  • Does the project issuing the token have any relationship with current Berachain validators?: Yes
  • Total Supply Cap: N/A
  • Circulating Supply: 3,670,756
  • Token Type: Other
  • Provide extra details (e.g. Use case, Redemption mechanics, Peg stability): minted and burned on an up-only bonding curve
  • Are token contracts upgradable?: no
  • Token Control: Multisig
  • Is the token contract verified?: Yes
  • Is the token a standard ERC20 or any functions have been customized?: ERC20 with custom functions
  • 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: BREAD
  • Symbol: BREAD
  • Name: wrapped BERA
  • Symbol: wBERA

Additional Requirements:

  • Specify how many tokens per week you plan to allocate for incentives: 300 wBERA per week target for incentives (net value using both BREAD and wBERA)
  • 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.): multisig
  • 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): 0xa9592b702e8bbf6485136e94ee84af263cc3a69b

6. Growth, Community & Ecosystem Impact

Why This Contract Matters:

  • How will this contract benefit Berachain?: Will incentivize baking of BREAD, which increases collateral value of existing loan holders and frees up more BERA for farming. Furthermore, it helps promote usage of a Berachain protocol.
  • Will it deepen liquidity for a major ecosystem token (e.g., BERA, core stable asset)?: No
  • Does it enable important trading pairs that drive adoption or integrate with other Berachain projects?: No

Potential Volume / TVL:

  • Provide metrics or estimates on liquidity you expect to attract:current liquidity stats Kodiak Analytics
  • Highlight any known liquidity commitments. (If you or partners plan to seed the contract, provide proof of funds or a statement of intent.): None, this will be to incentivize BREAD stakers

Synergies with Other Protocols:

  • Will this contract feed into any yield aggregators, lending markets, or liquid staking derivatives on Berachain?: synergies with Kodiak, Yeet, and Olympus, as well as BakerDAO itself

Marketing / Promotion:

  • Are there plans to co-market with another project to bootstrap liquidity?: Yes, co-marketing with Kodiak, Yeet, and Olympus

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.): This vault will not evolve significantly besides becoming a BREAD sink

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]”

1 Like
2

Hi team, thanks for the proposal.

A couple of concerns:

  • How does the vault contribute value to BERA, or economic activity on the network as a whole?
  • More directly, how does one avoid this turning into a vault which is solely used to effectively farm BGT without direct economic benefit to the eco?

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.

1 Like