Category: Boost
Status: Pending
Scope: Adjust boost so that bveCVX holdings count towards native balance
Tl:dr
With this change, holdings of bveCVX and bveCVX lp (50% of the value like BADGER lp) will now count as native balance in boost. The amount will be additive to an addresses current native balance assigned by HODLing BADGER/DIGG in your wallet or an approved smart contract. Any address can increase their native balance by up to 50% by holding bveCVX and bveCVX lp. Each dollar of bveCVX and bveCVX lp will count as $.50 in Boost up to the maximum increase of 50% of the USD value of your native balance (DIGG + Badger)…
As a formula:
New USD balance for boost = [native USD balance] + min(0.5*[cvx setts usd balance], 0.5*[native usd balance])
Details
The more bveCVX in existence, the more influence Badger has in the convex and curve ecosystem to direct CRV and CVX emissions to Badger vault pools. As Badger continues to build a yield aggregator that can compete in an environment where the control of yield is very competitive, we need a clear incentive to support influence for badger in the system. By including bveCVX in boost there is an added reason to bring your CVX to badger.
To continue to incentivize holding BADGER though bveCVX wont be added simply as another native asset, users will need to hold BADGER to unlock their bveCVX boost. For each address participating in the bveCVX or bveCVX LP Vaults, the smaller of 50% of USD value of native tokens or 50% of USD value of CVX sett (bveCVX and bveCVX LP) positions will be added to the current native USD balance. The stake ratio for boost will be calculated based on the ratio between the native + cvx boost balance and the non-native deposits. New USD balance for boost = [native USD balance] + min(0.5[cvx setts usd balance], 0.5*[native usd balance])
| BADGER + DIGG | bveCVX or bveCVX LP | Current Boost | New Boost |
|---|---|---|---|
| $0 | $1,000 | $0 | $0 |
| $500 | $1,000 | $500 | $750 |
| $1,000 | $1,000 | $1,000 | $1,500 |
| $1,500 | $1,000 | $1,500 | $2,000 |
| $2,000 | $2,000 | $2,000 | $3,000 |
| $3,000 | $6,000 | $3,000 | $4,500 |
| $3,000 | $500 | $3,000 | $3,250 |
As we look forward at Badger and consider the potential new ecosystems where it will be important to build influence and potential for expanding the products Badger offers, putting a model like this in place that can incorporate and scale with these new influence assets is critical to the future success of Badger.
- Yes, add bveCVX to Boost as described here
- No, do not add bveCVX to Boost
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