BIP 45: Pancakeswap bBadger and bDIGG incentives

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 APY’s 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.

It’s 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 “for” and if you are not in favour vote “against”. Please share your feedback and guidance.

  • For
  • Against

0 voters

3 Likes

that will be a great milestone for badger’s TVL, let’ s make it happen.
also wish digg move to it’ s peg soon, let binance launch digg.
maybe tell CZ invest badgerDAO hah .

3 Likes

It is so exciting!! It will help Badger for catching more asset.

2 Likes

Supporting this BIP. Even when I hate and avoid BSC, I acknowledge this is good for the DAO. Hope there will be more chains soon.

5 Likes

BSC has tons of bitcoin holders and much less gas, I think it will good for us all.

2 Likes

Great use of funds! Somewhat unreleated, but are protocol fees from these cross chain vaults going to be directed to bBadger holders on ETH? I’m 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.

2 Likes

Agreed. The more use cases for bBadger and bDigg, the better for the DAO.

1 Like

plus, maybe also conside about Huobi HECO and the in coming OKExChain, as I know, those two chains owned by the top CEX have large contain of Bitcoin.

Excellent!! Go to Pancake!

100% yes. My only question would be… why not more? @Spadaboom, I think you’re undervaluing the amount of value that BSC is going to add.

1 Like

I completely lost interest in the project until I saw this.
After I saw this, I bought more Badger.

3 Likes

What a great news. This is an amazing incentive!

Second this, think it’s 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. Luna’s success can be replicated, and FXS’s 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.

1 Like

let us go!!!badger is the best defi

https://snapshot.org/#/badgerdao.eth/proposal/Qmbr1d4KSRUpH6pj8zPNSMmUXz3Z1CD4EofzuNoFGApREm

there is so many L2 solution … why you have to move to the centralize one. im against any Binance cooperation.

wen $CLOW?..?

Will this be coupled with any sort of marketing campaign aimed at all the BTC in Binance?