Babylon.finance
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Babylon.finance

Babylon Finance: Gardener’s Digest #4

📖 Overview

Gardener’s Digest is a weekly newsletter highlighting changes and news in the Babylon Finance ecosystem. Learn more about Babylon Finance and join your first garden here: https://www.babylon.finance/

Questions? Read the FAQ: https://docs.babylon.finance/getting-started/faq Or Join our Discord.

📢 News

Public Launch

Babylon is ending the Settlers Beta and is scheduled for public launch March 15th, 2022. Please check your spam folder if you have signed up for the beta but haven’t received an invite yet.

New 2022 Roadmap

2022 Babylon Finance Engineering Roadmap

Babylon has released a new roadmap for 2022 including a lot of frequently requested features and integrations planned. Some of the most exciting releases center around Layer 2 solutions like Arbitrum, Optimism, Polygon, Fantom and more.

One feature that will significantly increase TVL for Babylon will be white-labeled gardens that other DeFi protocols can use with their native governance tokens to direct capital within their treasury while accumulating the BABL token through the existing BABL mining program.

The new roadmap can be found here.

New Support for Curve Factory and Crypto pools.

Babylon has added support for crypto pools, factory pools, and crypto factory pools on Curve. Between Curve, Yearn and Convex, Babylon now supports an additional 30 pools across these protocols. This includes some of the most requested pools like crveth, cvxeth, or crvcvx. The medium posts below have been updated to reflect the newly supported pools in a complete list:

Read more from the official announcement here.

Community Calls & Twitter Spaces

Babylon Finance hosts weekly Q&A sessions on Discord and Twitter spaces to talk about all things Babylon. The next Twitter space is scheduled for February 25th, 10AM PST.

📜 Governance

BIP-11 Heart Bonding Program

A detailed write up of BIP 11 is now available here. It has been submitted on-chain and is available for voting through the Heart of Babylon, gas free. A summary of the proposal is below:

  1. Users can deposit cTokens from the Babylon’s Gold Lender pool on Rari (3% discount).
  2. Users can deposit Uniswap V3 LP tokens from the BABL-ETH pool (5% discount).
  3. Deposits are subject to the same lock as normal heart stakers (2 months).
  4. Heart Capacity will be increased to 30k. Once reached, it will be increased again to 40k.
  5. 10K BABL will be sent to the heart and lent into the fuse pool. Heart will be able to borrow against it to purchase additional BABL as a premium from strategies.

📈 Stats

TVL & Users

DeFi Llama TVL Chart

Babylon Finance currently has $21.56M in TVL and has created over $2.41M in wealth within 87 different Gardens for their 1,347 users.

Babylon’s Treasury is currently holding $8.8M in assets.

Heart of Babylon Tracker

The Heart has performed its second weekly buyback and reallocation. 62 BABL were purchased, .44 WETH sent back to the treasury, 3.1K in liquidity added to BABL-ETH pool, $2K sent to gardens. Another $2.5K added in liquidity to the Fuse pool.

https://etherscan.io/tx/0x9f95a6a137b6564d2aef23b6e63cc71956161cc8de341006aaf05f490ac4c9a4

🧑‍🌾 Garden of The Week

Metaverse Mania

Today we take a closer look at the Metaverse Mania investment club which is attempting to capture value from the Metaverse sector given their thesis that people will increasingly spend their time socializing online in decentralized environments. We will also talk with one of the garden’s strategists, “Caronfire.”

The Metaverse Mania Garden is meant for medium–long term investment horizons. The reserve asset is WETH and the strategy duration is anywhere from 30–500 days. This garden received a treasury match investment from BIP-5. Currently the garden is utilizing strategies involving the $MVI index token from TokenSets.

Interview with a Babylonian: “Caronfire”

What attracted you to Babylon?

I have a background in finance and work as an on-chain data scientist. Babylon attracted me because of its ease of use. It’s got a long way to go yet, but it took UX to the forefront among its cohort of non-custodial asset management protocols.

What specifically is the Metaverse garden trying to accomplish? Gaming tokens? Land purchases? ERC721 purchases?

The Metaverse garden is working in two phases. With low liquidity, we cannot spread too thinly as transactions will be cost-prohibitive. That’s why it is merely tracking the total Metaverse Index (MVI) and providing liquidity MVI-wETH. With more liquidity, the garden will allocate more to specific protocols and those that are not included in MVI. Metaverse land purchases are not yet on the roadmap, but that may change if we see it to be a strategically relevant investment. Other ERC721s are also not in scope, given that they are not yet supported by the Babylon protocol, but may come into play if they pertain to the Metaverse.

Do you have any detailed strategies, or potential future strategies you can share?

Our primary strategy is to create our own index within Babylon and moving away from MVI. That way, we can play a more active role in managing the funds and allocating to high-value assets we have identified.

Can you give me a brief comment about what you hope you see from Babylon in the future? Things you are excited about that affect the Metaverse garden?

We would like to see lending protocols being integrated so we can short the MVI and long assets of our choice, thereby shorting the assets that are part of MVI which we see underperforming. This is however also dependent on the lending protocols adding MVI constituents to their platforms. Furthermore, I would like to see additional analytics for advanced users to toggle, granting them greater insight over their investments, both for Garden participants and us Gardeners.

🌴 Participate in the Babylon Ecosystem

If you want to lend/borrow from the Babylon Fuse Pool, click here.

If you want to stake BABL, you can visit the heart website here. If you need to purchase BABL first, it is currently trading on Uniswap 🦄. You can purchase BABL here.

Alternatively, you can join our beta and start investing in gardens. BABL mining rewards are accrued based on the capital invested, the duration of the investment, and the performance.

If you want to join us on our mission to help people create wealth through DeFi, please visit our Discord and help us build a better way for communities to invest in DeFi together.️

Follow us on Twitter and Medium to stay up to date on all Babylon news.

㊙️ If you need a beta invite, you may be able to snatch one by asking other members in Discord

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