RFRV Reward Vault Request for Smilee - swBERA | wgBERA Vault (20/80) on BEX

Reward Vaults
1
  1. Proposer Details

  • Proposer’s project name: Smilee Finance

  • Proposer’s email: matteo@smilee.finance

  • Proposer’s X account (you will be required to make a post from the X account provided for verification purposes): https://x.com/SmileeFinance

  • Best Telegram Handle for questions/fixes (remember to enable DMs from non-contacts): @OxMop94

  1. Protocol Details
  1. Reward Vault and Staking Token Details

  • Vault Name (Example: iBGT on Infrared) Smilee - swBERA | wgBERA (20/80)

  • Reward Vault Address: (insert only the contract address): 0x96325246424C5Fc1d302765FC76ef66f16E0632C

  • Logo URL: Vault Image 1024x1024 and non-transparent: https://i.ibb.co/Sw6BFw6w/swbera-wgbera-token-jpg.jpg

  • Staking Token Address: 0x7185E6cb1FCAF5d9e67af065B5E0Fd8503e68BE2

  • Is the Staking Token located on BEX? Yes

  • Specify the protocol where the Staking Token is located (Ex: BEX, Kodiak, YourOwnProtocol): BEX

  • Link to where the Staking Token is located: https://hub.berachain.com/pools/0x7185e6cb1fcaf5d9e67af065b5e0fd8503e68be2000200000000000000000198/details/

  • Existing Liquidity / TVL (if it is a DEX pool the TVL should be at least $50K in a major ecosystem asset) ~$100,000

  • Describe how a user should acquire this staking token: providing liquidity in the BEX pool swBERA | wgBERA | BeraHub. To get swBERA, the user has to stake BERA in the Hub Staking module from PoL v2. To get wgBERA, the user has to mint wgBERA by staking BERA in Smilee.

  • Reward Duration address: 0xb28BEde667acd985b6DfF27717CC008010947F8F

  1. Tokens Information

  • Name Staked Wrapped Bera, Wrapped gBERA

  • Symbol sWBERA, wgBERA

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

    • Berachain / 0x118D2cEeE9785eaf70C15Cd74CD84c9f8c3EeC9a

    • Berachain / 0xD77552D3849ab4D8C3b189A9582d0ba4C1F4f912

  1. Incentive Token

Required Data for Incentive Tokens:

  • Name: Wrapped gBERA

  • Symbol: wgBERA

  • Token Contract Address (on Berachain and bridging addresses if cross-chain): Berachain / 0xD77552D3849ab4D8C3b189A9582d0ba4C1F4f912

  • Tokenomics, Distribution, and Vesting (links to official docs, website, etc.): smilee-finance.gitbook.io

  • Identify any address(es) controlling more than 10% (address / type: team, foundation, investor, etc.): wgBERA Address Identification - Google Sheets

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

  • If yes, which ones? Smilee Validator

  • Total Supply Cap (if any): No Cap

  • Circulating Supply 4,813,876

  • Token Type: LST

  • If either token is a native stablecoin, LST, or governance token, provide extra details on: gBERA provides a decentralized liquid staking token for $BERA. wgBERA is a non-rebasing ERC4626-compliant alternative that increases in value relative to the underlying gBera. It will be possible redeeming 1:1, once withdrawals will be enabled on Berachain network, until then unstaking from gBera won’t be possible. There is no mechanism in place to guarantee the peg, people can swap in and out using the liquidity pool provided.

  • Are token contracts upgradable? No

  • Token Control: Permissionless

  • Is the token contract verified? Yes

  • Is the token a standard ERC20 or any functions have been customized? (e.g. transfer, balance, mint, burn…): wgBERA is an ERC4626. convertToShare and convertToAsset functions have been adjusted to account for rewards accrued into gBERA (rebasing ERC20). Both wgBERA and gBERA designs are based on that of a standard LST.

  • Can the token be paused? No

  1. Additional Requirements:

  • Specify how many tokens per week you plan to allocate for incentives: 1500 wgBERA per week at minimum

  • Specify for how many weeks you plan to allocate incentives: 6 months at minimum

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

  • Incentive Manager address (this address will maneage the incentive token, being able to add incentive tokens to the reward vault and change the incentive rate): 0xb28BEde667acd985b6DfF27717CC008010947F8F

  1. Growth, Community & Ecosystem Impact

  • Why This Contract Matters: how will this contract benefit Berachain? It’s a weighted pool acting as a BERA sinkhole. Stake BERA, both on Smilee and Berachain, get yield and bribing power (aka better BGT APR), and stake the LP again. This pool is mostly suitable for those who are looking for a major wgBERA exposure, with a bit of swBERA: for those who are deep into Smilee Finance and their LST, this is one of the best pool they can get. This pool is part of a tri-pools programme that will be the foundation of the Smilee second season: swBERA | wgBERA in different %. 80/20, 50/50, 20/80, all bribed differently and with the validator pointing its emission differently according to the amount of wgBERA into the pool.

  • Will it deepen liquidity for a major ecosystem token (e.g., BERA, core stable asset)? Yes.

  • Does it enable important trading pairs that drive adoption or integrate with other Berachain projects? Yes, it will be integrated as one of the main pool for Smilee wgBERA first native PoL-driven LST, and the tri-pool program will be further enhance this aspect (not yet revealed publicly).

  • The contract will benefit Berachain on different levels: increase chain security, since it will increase the amount of BERA staked. It favours decentralization, since it will introduce a crucial LST alternative paired with the staking system made by the foundation, and increase BERA utility and capital efficiency. Plus, the contract will deepen liquidity for BERA.

  • Potential Volume / TVL: $2,000,000

  • Highlight any known liquidity commitments. (If you or partners plan to seed the contract, provide proof of funds or a statement of intent.): we’re going to further provide liquiditiy through the use of our gFund (as we have a lot of swBERA in our portfolio) and we are onboarding new partners to provide even more deeper liquidity as it will become soonly one of our main pool.

  1. Marketing / Promotion:

  • Are there plans to co-market with another project to bootstrap liquidity? Yes, through our official main Smilee page on Twitter.

  • 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.): wgBERA is one of the core LSTs for the chain, integrated in multiple DEXs, lending markets, derivatives protocols and consumer applications - the first to fully empower Proof of Liquidity by killing Proof of Stake.