🎟 Introducing Heart Bonds
Babylon is a community-led asset management protocol that enables users to create investment clubs (we call them gardens) and invest in DeFi together. It’s built on the Ethereum network and it’s non-custodial, transparent, permission-less, and governed by the community. BABL is the governance token behind it.
UPDATE: The Heart was updated on June 7th and a new DAI bond was introduced with 10% discount. https://medium.com/babylon-finance/the-heart-of-babylon-reloaded-6a74f4044f95
Almost two months ago, we released 🫀 The Heart of Babylon a supercharged staking mechanic for BABL holders combining +10 token mechanics from the best of DeFi.
The Heart has already generated 27% extra BABL for stakers, averaging 160% APR. It is not a surprise that the capacity was reached quickly and it had to be increased twice through governance proposals.
Today, we are excited to introduce the Bond program, so Babylonians can receive extra discounts on BABL staking — up to 5% — for giving the protocol assets that Babylon needs.
📖 A brief note about bonding
According to Investopedia, a bond is a fixed-income instrument that represents a loan for a specific duration made by an investor to a borrower. In the simplest case, upon maturity, the depositor receives the principal.
Olympus (OHM) popularized the concept in DeFi to allow the protocol to accumulate Protocol Controlled Liquidity (PCV) in exchange for discounts to the bonder.
In Babylon, the protocol wants to acquire the following assets:
- 🦄 BABL-ETH Uniswap V3 LP tokens. We want to substantitally increase the liquidity of our pair to provide more depth for traders and prevent liquidation cascades i.e MEV incident 🤖.
- 🤝 Babylon Gold Lender Fuse Pool LP tokens. We created lending and borrowing markets to allow Babylonians and Gardens to use BABL as collateral. We need to increase the liquidity to expand our support to partners.
🥇 How to bond BABL-ETH — 5% Discount
🦄 Our BABL-ETH pair on Uniswap has now more than $1M in liquidity. Our goal is to increase this number to +$2M in the next 6 months.
To facilitate the process to add liquidity to the pair, we have paired with Gamma. Users only need to deposit BABL-ETH into gamma and receive typical ERC-20 tokens that then can bond into the heart.
Here is how to do it 👇
- Head to Gamma
- Select Mint LP Tokens to Wallet
3. Select the amount of BABL & WETH that you want to deposit. At least $3k in combined value.
4. Approve BABL & WETH and then send the transaction to get the LP tokens.
5. Head to the heart page (https://www.babylon.finance/heart)
6. Click on Bond
7. Select BABL-ETH
8. Approve it and send it
9. Receive 5% extra staked BABL 🎊
🥈How to bond Babylon Fuse Tokens — 3% Discount
Our Fuse Pool currently has more than $6.3M in supplied capital. We want to increase this number to +$10M during the year to add tokens from different partners while keeping enough liquidity for all borrowers.
- Head to our pool on Rari (https://app.rari.capital/fuse/pool/144)
2. Click on DAI or FRAX on the left side.
3. Select the amount (at least $3k)
4. Confirm the transactions to receive your LP tokens.
6. Click on Bond
7. Select fDAI or fFRAX
8. Approve it and send it
9. Receive 3% extra staked BABL 🎊
🌴 Join Babylon
We are building Babylon to help people access the best opportunities in crypto through native DeFi investment clubs or gardens. You can now invest along with others, save on gas, speed up your learning and minimize your transactions all at once.
Here are some of the top-performing gardens in Babylon:
⛲️ The Fountain of ETH. Deposit ETH and grow it using staking and lending strategies.
💲The Stable Garden. Deposit and grow your DAI with yield farming strategies.
🫀The Heart of Babylon. Stake your BABL, reinvest protocol fees and vote on governance for free.
You can visit Babylon here.
Join our Discord if you have any questions.
