From 6c3c3d5caab0c85001b92bddf842a2451b585b58 Mon Sep 17 00:00:00 2001 From: Troy Murray Date: Fri, 28 Aug 2020 08:06:56 -0700 Subject: [PATCH 1/7] Create 002-YieldFarming.md --- bbips/002-YieldFarming.md | 29 +++++++++++++++++++++++++++++ 1 file changed, 29 insertions(+) create mode 100644 bbips/002-YieldFarming.md diff --git a/bbips/002-YieldFarming.md b/bbips/002-YieldFarming.md new file mode 100644 index 0000000..e0212fc --- /dev/null +++ b/bbips/002-YieldFarming.md @@ -0,0 +1,29 @@ +--- +bbip: 2 +title: Yield Farming +torchbearer: Troy Murray (@DannyDesert) +author: Troy Murray (@DannyDesert) +discussions-to: https://github.com/BarnBridge/BBIP/pull/4 +status: Preview +created: 2020-08-28 +--- + +## Simple summary + +A simple way for future users of the protocol to get access to the $BOND token before the Smart Yield Bond product launches. + +## Abstract + +In the true spirit of decentralization, we needed a way to distribute $BOND tokens to future user of the protocol that couldn't get access to the Seed round. The + +## Specification + + + +## Implementation (optional) + + + +## Copyright + +[Apache License Version 2.0](https://www.apache.org/licenses/LICENSE-2.0.txt) From 7e89f06986cc7111051bf3df21066509b1ac9620 Mon Sep 17 00:00:00 2001 From: Troy Murray Date: Fri, 28 Aug 2020 08:20:21 -0700 Subject: [PATCH 2/7] Update 002-YieldFarming.md --- bbips/002-YieldFarming.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/bbips/002-YieldFarming.md b/bbips/002-YieldFarming.md index e0212fc..cc708dd 100644 --- a/bbips/002-YieldFarming.md +++ b/bbips/002-YieldFarming.md @@ -14,7 +14,7 @@ A simple way for future users of the protocol to get access to the $BOND token b ## Abstract -In the true spirit of decentralization, we needed a way to distribute $BOND tokens to future user of the protocol that couldn't get access to the Seed round. The +In the true spirit of decentralization, we needed a way to distribute $BOND tokens to future user of the protocol that couldn't get access to the Seed round. There will be a staking pool that uses the assets (DAI, USDC, & sUSD) that will be used in the first product of the protocol which is the Smart Yield Bond. 8% of the initial token supply (800,000) will be allocated to the staking pool. ## Specification From e0f16c726b92561326b03d0b8b685f9e7c30c24f Mon Sep 17 00:00:00 2001 From: Troy Murray Date: Fri, 28 Aug 2020 08:23:22 -0700 Subject: [PATCH 3/7] Update 002-YieldFarming.md --- bbips/002-YieldFarming.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/bbips/002-YieldFarming.md b/bbips/002-YieldFarming.md index cc708dd..35ab85e 100644 --- a/bbips/002-YieldFarming.md +++ b/bbips/002-YieldFarming.md @@ -14,7 +14,7 @@ A simple way for future users of the protocol to get access to the $BOND token b ## Abstract -In the true spirit of decentralization, we needed a way to distribute $BOND tokens to future user of the protocol that couldn't get access to the Seed round. There will be a staking pool that uses the assets (DAI, USDC, & sUSD) that will be used in the first product of the protocol which is the Smart Yield Bond. 8% of the initial token supply (800,000) will be allocated to the staking pool. +In the true spirit of decentralization, we need a way to distribute $BOND tokens to future user of the protocol that couldn't get access to the Seed round. There will be a staking pool that uses the assets (DAI, USDC, & sUSD) that will be used in the first product of the protocol which is the Smart Yield Bond. 8% of the initial token supply (800,000) will be allocated to the staking pool. ## Specification From 616713305b1b6b7f02e0c2d3e84ed3f2de72f5a7 Mon Sep 17 00:00:00 2001 From: Troy Murray Date: Sun, 30 Aug 2020 11:48:44 -0700 Subject: [PATCH 4/7] Update 002-YieldFarming.md --- bbips/002-YieldFarming.md | 2 ++ 1 file changed, 2 insertions(+) diff --git a/bbips/002-YieldFarming.md b/bbips/002-YieldFarming.md index 35ab85e..e82ee1f 100644 --- a/bbips/002-YieldFarming.md +++ b/bbips/002-YieldFarming.md @@ -18,7 +18,9 @@ In the true spirit of decentralization, we need a way to distribute $BOND tokens ## Specification +Breakdown on the token distribution: (https://docs.google.com/spreadsheets/d/1AKdLHFsIujM-MS3atlrKUsLMXelIHhWQsHOQh2iFEIs/edit?usp=sharing)[https://docs.google.com/spreadsheets/d/1AKdLHFsIujM-MS3atlrKUsLMXelIHhWQsHOQh2iFEIs/edit?usp=sharing] +Each Epoch is a week long, we are distributing 8% of the initial supply (800,000) and the first week we distribute 50% and then ever week after the number halves (modeled it off the grandaddy of them all, Bitcoin). ## Implementation (optional) From e00e9d5bab8addc24fc414087e17a8e970f78b43 Mon Sep 17 00:00:00 2001 From: Troy Murray Date: Sun, 30 Aug 2020 11:49:03 -0700 Subject: [PATCH 5/7] Update 002-YieldFarming.md --- bbips/002-YieldFarming.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/bbips/002-YieldFarming.md b/bbips/002-YieldFarming.md index e82ee1f..cbc951f 100644 --- a/bbips/002-YieldFarming.md +++ b/bbips/002-YieldFarming.md @@ -18,7 +18,7 @@ In the true spirit of decentralization, we need a way to distribute $BOND tokens ## Specification -Breakdown on the token distribution: (https://docs.google.com/spreadsheets/d/1AKdLHFsIujM-MS3atlrKUsLMXelIHhWQsHOQh2iFEIs/edit?usp=sharing)[https://docs.google.com/spreadsheets/d/1AKdLHFsIujM-MS3atlrKUsLMXelIHhWQsHOQh2iFEIs/edit?usp=sharing] +Breakdown on the token distribution: https://docs.google.com/spreadsheets/d/1AKdLHFsIujM-MS3atlrKUsLMXelIHhWQsHOQh2iFEIs/edit?usp=sharing Each Epoch is a week long, we are distributing 8% of the initial supply (800,000) and the first week we distribute 50% and then ever week after the number halves (modeled it off the grandaddy of them all, Bitcoin). From f4a0fb06cc73b9e6a15ca67957300e11f5b12a59 Mon Sep 17 00:00:00 2001 From: Troy Murray Date: Mon, 31 Aug 2020 10:58:49 -0700 Subject: [PATCH 6/7] Update 002-YieldFarming.md --- bbips/002-YieldFarming.md | 8 ++++++-- 1 file changed, 6 insertions(+), 2 deletions(-) diff --git a/bbips/002-YieldFarming.md b/bbips/002-YieldFarming.md index cbc951f..8235fdc 100644 --- a/bbips/002-YieldFarming.md +++ b/bbips/002-YieldFarming.md @@ -18,9 +18,13 @@ In the true spirit of decentralization, we need a way to distribute $BOND tokens ## Specification -Breakdown on the token distribution: https://docs.google.com/spreadsheets/d/1AKdLHFsIujM-MS3atlrKUsLMXelIHhWQsHOQh2iFEIs/edit?usp=sharing +- Each epoch is 1 week long +- Number of distributed tokens is equal for all epochs; each epoch emits = 800.000 / number of epochs = 33,333.33 tokens +- It's the fairest way to distribute because the people who did not join in the beginning, can still join later and not be severely diluted +- The dilution will be controlled by the popularity of the $BOND tokens (this is the same for Bitcoin, you earn less if more people join; but it's valued more) +- It simplifies the model and makes it easier to understand -Each Epoch is a week long, we are distributing 8% of the initial supply (800,000) and the first week we distribute 50% and then ever week after the number halves (modeled it off the grandaddy of them all, Bitcoin). +Current breakdown: https://docs.google.com/spreadsheets/d/1AKdLHFsIujM-MS3atlrKUsLMXelIHhWQsHOQh2iFEIs/edit?usp=sharing ## Implementation (optional) From b48a5cdd4a49d6026e5088cb6f9a7dd72af71855 Mon Sep 17 00:00:00 2001 From: Bogdan Gheorghe Date: Tue, 22 Sep 2020 16:21:36 +0300 Subject: [PATCH 7/7] Update 002-YieldFarming.md Changes to Abstract and Specification to match the article announcing Yield Farming --- bbips/002-YieldFarming.md | 16 ++++++++++------ 1 file changed, 10 insertions(+), 6 deletions(-) diff --git a/bbips/002-YieldFarming.md b/bbips/002-YieldFarming.md index 8235fdc..3a2119d 100644 --- a/bbips/002-YieldFarming.md +++ b/bbips/002-YieldFarming.md @@ -14,15 +14,19 @@ A simple way for future users of the protocol to get access to the $BOND token b ## Abstract -In the true spirit of decentralization, we need a way to distribute $BOND tokens to future user of the protocol that couldn't get access to the Seed round. There will be a staking pool that uses the assets (DAI, USDC, & sUSD) that will be used in the first product of the protocol which is the Smart Yield Bond. 8% of the initial token supply (800,000) will be allocated to the staking pool. +Participants can harvest their yield at the conclusion of each epoch. Each epoch will last 1 week, and an equal number of $BOND tokens will be distributed during each epoch. The participants’ harvest will be based on the amount of stable coins they have staked relative to the total amount staked in the pool. The calculation will be time-weighted to promote true and fair pro rata harvesting. Any participant can add to the pool during the duration of an epoch and receive rewards proportional to the time they are staked, but the funds must stay staked through the end of the epoch to be able to harvest the rewards. That’s Week 1 - the first epoch - plain and simple. + +Starting Week 2 (the second epoch), participants will have the opportunity to turbocharge their $BOND farm and juice their crops with a powerful rewards multiplier. By claiming your $BOND harvest and adding it to the Uniswap v2 liquidity pool in exchange for BOND/USDC LP Token, then staking this LP token back in the BarnBride Yield Farming contract, you will begin earning 2.5x $BOND distribution. We would like to emphasize that a contract like this has never been written before; one that allows users to stake different stable tokens in a single contract while assigning a rewards multiplier for those who stake the LP token. We are proud to give this to the open source/WEB3 community for use in future projects if any find it fitting. ## Specification -- Each epoch is 1 week long -- Number of distributed tokens is equal for all epochs; each epoch emits = 800.000 / number of epochs = 33,333.33 tokens -- It's the fairest way to distribute because the people who did not join in the beginning, can still join later and not be severely diluted -- The dilution will be controlled by the popularity of the $BOND tokens (this is the same for Bitcoin, you earn less if more people join; but it's valued more) -- It simplifies the model and makes it easier to understand +- Total $BOND Token Supply: 10,000,000 +- Token amount supplied to Yield Farming: 800,000 or 8% +- Tokens available to stake: USDC, DAI, & sUSD, USDC_BOND_UNI_LP (2.5x) +- Yield Farming Duration: 24 weeks +- Epoch length: 1 week +- Tokens distributed in each epoch: 33,333.3333333333 + Current breakdown: https://docs.google.com/spreadsheets/d/1AKdLHFsIujM-MS3atlrKUsLMXelIHhWQsHOQh2iFEIs/edit?usp=sharing