Reward Vault Request for Up Only BERA IVX Reward Vault
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: 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): https://x.com/ivx_fi
- 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
2. 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
3. Contract/Pool Details
- Contract Name: uobIVX
- Contract Address: 0x5782b5b78753b3Dc699aF6F1f1Fc65599d5CD5A4
- Contract Type / Configuration: ERC20
- Describe how the contract works:
uobVX is an accounting token for IVX that will be used to capture BGT from validators following the incentives that IVX offers with the value then being offered to traders on IVX who are specifically and only trading instruments related to $BERA. This includes trading both perpetual and option based $BERA instruments.
These will be based on metrics such as volume, fees, and type of instrument.
- 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 0x7cB1005BD9E7F3C6eDe24FF89fAda5a1b180BDdd
- Additional details on Contract Control - Controlled by the IVX multisig
- Is the contract verified? - Yes
- Can the contract be paused? - Yes
- Does the contract rely on oracles? - No
- (If yes, explain oracle dependency)
4. Token Details
- Name: uobIVX Reward Vault Token
- Symbol: uobIVX
- Contract Addresses (on Berachain and bridging addresses if cross-chain): 0x5782b5b78753b3Dc699aF6F1f1Fc65599d5CD5A4
- 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). uobIVX is an accounting token from IVX to capture BGT. Rewards from this will be distributed proportionally based on the type of $BERA instrument, volume and fees paid.
- Are token contracts upgradable? Yes
- Token Control: (Multisig/Single Owner/RBAC/Permissionless/Governance) - Multisig - 0x7cB1005BD9E7F3C6eDe24FF89fAda5a1b180BDdd
- 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
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: HONEY + BERA
- Symbol: HONEY + BERA
Additional Requirements:
- Specify how many tokens per week you plan to allocate for incentives
Up to 4898 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 Levo and 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
6. Growth, Community & Ecosystem Impact
Why This Contract Matters:
- How will this contract benefit Berachain?
Users having additional incentives to trade $BERA specifically will help to increase attention, speculation, volume and fees for both IVX and Berachain and specifically the $BERA asset. It will also help to shine light on different strategies users can do with the $BERA asset including volatility strategies, covered calls and hedging strategies.
This is also going to incentivise capital efficient strategies for traders on $BERA, not only for longing, but also for hedging through the various option strategies available. Using options can be an incredibly cheap way to access leverage through 0dtes and we will be able to incentivise users to do this through this reward vault. - Will it deepen liquidity for a major ecosystem token (e.g., BERA, core stable asset)?
No, this is an action based reward vault. It will however drive more adoption for $BERA and help to enhance the landscape for $BERA derivatives. - Does it enable important trading pairs that drive adoption or integrate with other Berachain projects?
Yes, this will drive significant volume and action around both BERA perpetual contracts and BERA options. IVX is the first place to offer $BERA options in crypto 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?
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.
The will be a campaign around trading $BERA related assets throughout the duration of this reward vault.
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 for rewarding users on IVX. 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/1905287785516261881