Babylon Finance: Gardener’s Digest #5
February 25th 2022
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/
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.
Babylon + Harvest Finance Liquidity Mining Ended
Last Tuesday, the Babylon Finance + Harvest Finance Liquidity Mining program has officially ended. Next week the Heart of Babylon will accept Harvest WETH-BABL LP tokens in exchange for discounted hBABL as per BIP-11.
Community Calls & Twitter Spaces
Babylon Finance hosts weekly Q&A sessions on Discord and Twitter spaces to talk about all things Babylon. Follow us on Twitter and join our Discord to stay up to date on the next community call. Our next Twitter Spaces is scheduled for March 2nd 10AM PST.
BIP-11 Heart Bonding Program
BIP-11 has passed the governance process and has been executed. The Babylon UI is waiting to be updated. Today the heart will increase capacity to 30k BABL, next week it will begin accepting WETH-BABL LP tokens from both Uniswap & Harvest Finance for discounted hBABL tokens.
A summary of the proposal is below:
- Users can deposit cTokens from the Babylon’s Gold Lender pool on Rari (3% discount).
- Users can deposit Uniswap V3 LP tokens from the BABL-ETH pool (5% discount).
- Deposits are subject to the same lock as normal heart stakers (2 months).
- Heart Capacity will be increased to 30k. Once reached, it will be increased again to 40k.
- 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.
TVL & Users
Babylon Finance currently has $19.58M in TVL and has created over $631K in wealth within 88 different Gardens for their 1,349 users.
Babylon’s Treasury is currently holding $6.9M in assets.
Heart of Babylon Tracker
The Heart has performed its weekly buyback and reallocation. 48 BABL were purchased, .31 WETH sent back to the treasury, 2.2K in liquidity added to BABL-ETH pool, $1.2K sent to gardens. Another $1.6K added in liquidity to the Fuse pool.
🧑🌾 Garden of The Week
This week we take a look into a garden created by Babylon User and Community Moderator Amplify. Amplify Capital attempts to capitalize on narrative driven market opportunities through yield farming, liquidity providing, speculative trading, stablecoin farming and leveraged trading. Amplify believes that every trade is either long or short market volatility and with volatility here to stay our best positioning is concentrating bets into a strict narrative driven sector rotation.
The Amplify Capital Garden is meant for medium–long term investment horizons. The reserve asset is DAI and the strategy duration is anywhere from 1–90 days. This garden received a treasury match investment from BIP-5. The garden uses the DefiPulse $DPI index as a benchmark.
Amplify Capital was formed as a way to interact and experiment with the Babylon Finance ecosystem, while still generating a return for its depositors. Currently the Garden is accumulating $CRV, $CVX, $FXS & $BABL, but will need to wind down these strategies in order to fulfill its original investment thesis and to participate in yield bearing positions. Due to current market conditions and experience using the platform, Amplify Capital will need to make some changes to the structure of the garden
- First, the strategy duration will be changed to 1–500 days to allow for more flexibility in long term yield farming positions. Due to gas limitations, a 90 day strategy duration is not realistic as the garden needs to unwind and redeploy strategies often, even when the narrative remains unchanged, costing thousands in gas fees.
- Second, the fee structure will change from: 9% Strategist, 1% Voters, 85% LPs to 7% Strategist, 3% Voters, 85% LPs in order to attract more active users.
🌴 Participate in the Babylon Ecosystem
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.️
If you want to lend/borrow from the Babylon Fuse Pool, click 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 need a beta invite, you may be able to snatch one by asking other members in Discord