Planned release date for beta bVaults is 20th October 2020.
- bVaults launch is inviting strategist, propose strategies and earn performance fees on the vaults if approved (more details on the process to come!)
- UI wise bVaults are set to be a list of cards named after stars to fit the Boosted Theme
- Integrating more on-chain governance proposals as well as using snapshot for signaling (instead of discord polls)
First bVault Release
Boost Vaults are not a clone of yVaults or 1:1 fork of another protocol — this wouldn’t make sense and our team would be doing a disservice to the other projects out there by diluting APYs and vampire attacking to steal liquidity. Here’s the summary of the key differentials of bVaults:
- bVault operations are divided into epochs. Each epoch lasts for 2 weeks.
- Upon depositing funds into bVaults, bf-Tokens are issued (similar to yTokens)
- Stake bf-Tokens into the vault rewards contract to earn the full reward possible
- Multiple strategies can be concurrently run, with different maximum draw amounts depending on the risk involved for each strategy.
- Each strategy must meet a minimum return amount per epoch before the strategist is able to claim a performance fee. This is known as the hurdle rate.
- Hurdle rates are increased by 0.01% every epoch, up to a maximum of 0.5%. This will reset every epoch.
- The harvest is split into 2 parts. Initially, 80% will be set for reinvestment while 20% for rewards distribution. This proportion can be increased by 0.5% in either direction at the cost of Boost tokens.
- Users can boost the rewards claimable in the vault rewards. The pricing mechanism and effect will be similar to that of the wave 3 distribution rewards contract.
- Any unclaimed rewards after 2 epochs will be made available for re-investment by sending them to the vault contract.
- Strategy harvesting is incentivised, whereby up to (by boosting) 1.5% of the farmed tokens will be sent to the caller.
Due to the unique and original nature of bVaults, this means that the development process is far more intricate and we are working with a security audit firm to release a new product onto the market that is secure and can add consistent value to BOOST token holders and vault depositors.
Purchase Boosters for bVaults
Boosters in bVaults will need to be purchased using BOOST and will have an effective period of 2 weeks (tentatively) — driving constant deflationary pressure on the token (Boosting burns tokens)
Reward Sharing & Liquidity Incentive
You will be able to stake your BOOST/BOOST-ETH LP tokens into a profit sharing pool that distributes a proportion of rewards from ALL bVaults and upcoming products such as bInsure. This will provide a continuous incentive to liquidity providers for the exchange of BOOST.
The BOOST token will be the native token used to govern the protocol and treasury.