Category: Treasury Management Scope: Allocate $500k as incentives for the Pancakeswap Syrup pools as part of Sett vaults launch on BSC. Status: Accepted
Objective: To determine community sentiment and approval to allocate $250k in bBadger and $250k in bDIGG for Pancakeswap incentives.
Overview:
As outlined today Badger is embarking on its cross chain journey and launching our Sett vaults across multiple chains and layer 2 solutions. The first stop is Binance Smart Chain. We will have 3 vaults at launch, bBadger/btcb , bdigg/btc and bnb/btcb, all LP tokens of PancakeSwap. Pancakeswap will be incentivizing those 3 pools with CAKE rewards and as part of our vault strategies we will be auto-compounding those rewards back into the users underlying LP positions. As per their standard process, newly incentivized LP pools will have the partner allocate $250k worth of their token as rewards for a separate program called Syrup. In syrup pools over a 60 day period users stake CAKE and earn partner rewards (details >) PancakeSwap
Specifics
Pancakeswap has agreed to allocate substantial CAKE rewards to our 2 pools. Each pool would receive $150k/day for the first 48 hours, $100k for the following 48 hours and $45k/day there after. This will translate to very high APYās for Badger vault depositors and generate solid revenue for the DAO through performance fees.
In return we would allocate $250k in bBadger and $250k in bDIGG total to Syrup pools over a 60 day period that CAKE stakers would earn linearly.
Itās important that Badger launches on additional chains and quickly establishes itself as the most trusted and highest yielding protocol for users to put their Bitcoin to work. I think we will accomplish that through these reward mechanics on BSC.
To meet the reward allocation cutoff for CAKE and launch the vaults later this week as intended we would need to move faster than usual on this BIP. With that if we reach quorum quickly the team will upload to Snapshot for voting with a 24 hour window.
Implementation:
Upon passing snapshot, $250k in bBadger and $250k in bDIGG from the treasury will be transferred to the Pancakeswap contracts for distributing in the Syrup pools upon launch of our vaults.
If you are in favour then vote āforā and if you are not in favour vote āagainstā. Please share your feedback and guidance.
that will be a great milestone for badgerās TVL, letā s make it happen.
also wish digg move to itā s peg soon, let binance launch digg.
maybe tell CZ invest badgerDAO hah .
Great use of funds! Somewhat unreleated, but are protocol fees from these cross chain vaults going to be directed to bBadger holders on ETH? Iām supportive of this either way, as seeing increased composability of the native tokens is important, but that increased revenue stream should see a strong return on this investment over time.
Second this, think itās a great question as Badger goes multichain. Will the ETH treasury contracts be the sole treasury contracts or will we have treasuries for each chain?
I think a partnership with a chain one of the largest exchanges will be very useful for badgers. At the moment, there is a problem with fees, which does not allow holders of small assets to fully utilize the opportunities provided by new Badger DAO products. While this problem is solved in BSC.
Now bad has been flowing out, so we should focus on the development of Clow. A large number of synthetic Clow, destroy bad and so on, naturally a large number of people play. Lunaās success can be replicated, and FXSās model is also good. At present, bad is not as valuable as other governance tokens. I think CLOW is the core product of the whole project, which can find a place for bad rather than smash it if you get bad. The price is getting lower and lower.