rIVX, for the IVX leaderboard Reward Vault Proposal
Reward Vault Request for rIVX RFRV
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
- Proposer Details
- Email: 0xmughal@ivx.fi
- Proposer’s project name: IVX finance
- Proposer’s X account (you will be required to make a post from the X account provided for verification purposes): IVX X Account
- Best Telegram Handle for questions/fixes: @wajmug / @bobdbldr
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) - Yes
- Protocol Details
- Protocol Name (Example: XYZ DEX) IVX finance
- Protocol Type (DEX/Lending/Staking/Derivatives/Other) Derivatives
- Protocol X profile link IVX X Account
- Protocol docs link https://documentation.ivx.fi/
- Protocol audits links (multiple links) IVX Audits
- Does the protocol have any relationship with current Berachain validators? No
- Contract/Pool Details
- Contract Name: rIVX
- Contract Address: 0x4979AAdE048867196Bc475D085EECB3965A60d1b
- Contract Type / Configuration: Custom ERC20
- Describe how the contract works: rIVX is an ERC20 accounting token used for receiving BGT through reward vaults. Once IVX has this BGT, it will be redeemed for LBGT through Berapaw and distributed proportionally to the top ranked account on the IVX leaderboard.
The IVX leaderboard contains multiple point based components including:
Volume traded
PnL
Based on the leaderboard ranking - $LBGT/HONEY/BERA will be distributed to users on a bi-weekly basis. - Contract Fees: Nil
- Existing Liquidity / TVL: Liquidity not relevant - Action based rewards
- Is the contract upgradable?: Yes
- Contract Control: (Multisig/Single Owner/RBAC/Permissionless/Governance) Multisig - 0x0d97e91d383C3353c0c3ccd51A8AFCfA3eB0Ad95
- Additional details on Contract Control - Controlled by the IVX multisig
- Is the contract verified? - No
- Can the contract be paused? - Yes
- Does the contract rely on oracles? - No
- (If yes, explain oracle dependency)
- Token Details
Provide the following details for each token in the contract (up to 5):
For Major Tokens:
- Name:
- Symbol:
For Non-Major Tokens:
- Name: rIVX
- Symbol: rIVX
- Contract Addresses (on Berachain and bridging addresses if cross-chain): 0x4979AAdE048867196Bc475D085EECB3965A60d1b
- Tokenomics, Distribution, and Vesting (links to official docs, website, etc.) Max supply infinite, held within the IVX multisig, no vesting.
- Identify any address(es) controlling more than 10% - Supply held by team
- Does the project issuing the token have any relationship with current Berachain validators? No
- If yes, which one?
- Total Supply Cap: No Supply cap
- Circulating Supply: As of writing, 0.
- Token Type: Accounting token
(Governance, Utility, Memecoin, Stablecoin, LST, RWA, Other) - Provide extra details (e.g. Use case, Redemption mechanics, Peg stability)
rIVX is an ERC20 accounting token used for receiving BGT through reward vaults. Once IVX has this BGT, it’ll be used to mint LBGT and be distributed to highest rank traders on the leaderboard. The value capture comes from the IVX leaderboard which will receive rewards.
It’s main utility is through a reward function which ends up going to users who are active through trading actions on Diem (0dte options).
The IVX leaderboard contains multiple point based components including:
Volume traded
PnL
Based on the leaderboard ranking - rewards will be distributed to users on a bi-weekly basis - Are token contracts upgradable? - Yes
- Token Control: (Multisig/Single Owner/RBAC/Permissionless/Governance) - Multisig
- Additional details on Token Control
- Is the token contract verified? - No
- Is the token a standard ERC20 or any functions have been customized? (e.g. transfer, balance, mint, burn…) - Standard ERC20
- Can the token be paused? - Yes
- 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: HONEY + BERA
- Symbol: HONEY + BERA
Additional Requirements:
- Specify how many tokens per week you plan to allocate for incentives
Up to 5000 BERA per month. This will be a stepwise approach based on the network activity. HONEY will be flexible based on the month to month fees generated from the trading activities on Diem.
- Specify for how many weeks you plan to allocate incentives
Up to 12 months - 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) - 0xa0eadB5e8758F65FBa176A3731d90543096C4c9e
- Growth, Community & Ecosystem Impact
Why This Contract Matters:
- How will this contract benefit Berachain?
This incentive programme will attract trading volume, derivative strategies, including trading unique assets with combination strategies as well as incentivising traders to continue to come back to the platforms regularly based on how the points system works. This is going to incentivise volume, and overall network activity on berachain. We believe that this will help IVX grow as we try to become the number 1 option protocol on chain today. - One of the aims of this is to use incentives to educate through trading activity and provide opportunities for people to try out options. This will be imperative for the growth of IVX as well as Berachain becoming a hub of on chain options.
- Will it deepen liquidity for a major ecosystem token (e.g., BERA, core stable asset)?
No, this is an action based reward vault - Does it enable important trading pairs that drive adoption or integrate with other Berachain projects?
Yes, this will drive significant volume and action around BERA options - of which we are the first place to offer this on mainnet and the first place in all the major on chain and off chain option protocols. IVX currently offers the highest leverage instruments on BERA in the market today.
Potential Volume / TVL:
- Provide metrics or estimates on liquidity you expect to attract. - We expect this to drive significant volume across IVX. On initial calculations we’re expecting over $10m in volume per month, however, this can be higher based on the leverage used. We’re aiming to become the number 1 option protocol based on these metrics.
- Highlight any known liquidity commitments. (If you or partners plan to seed the contract, provide proof of funds or a statement of intent.) Nil
Synergies with Other Protocols:
- Will this contract feed into any yield aggregators, lending markets, or liquid staking derivatives on Berachain?
IVX is integrated in many other protocols including D2 finance, Dirac finance and we’re looking to integrate with abstraction based protocols.
Marketing / Promotion:
- Are there plans to co-market with another project to bootstrap liquidity?
Since we will be working closely with Berapaw on this reward vault via LBGT minting, there will be strong cross protocol marketing to help push both protocols.
No liquidity requirements but with IVX there will be lots of marketing activities in the form of education, spaces, videos, tutorials, threads, traders backed incentives and through community boosting. We will continue to bring value to the ecosystem through things such as the IVX weekly vol trading show.
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 reward vault can change over time especially with the direction of incentives and how BGT is used. We will iterate this over time as we experiment with the optimal ways to grow trading based incentives, whilst ensuring a fair and equal opportunity for everyone involved.
- 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 - https://x.com/ivx_fi/status/1922242248399335795