Booga Beras Deep Dive Part 3: The HoneyPot (Treasury)
As a DeFi NFT, Booga Beras is crafted to give holders access to diverse sources of value. The HoneyPot, serving as the Booga Beras treasury, is strategically designed to directly connect BB holders with key Berachain protocols, enhancing their exposure.
How does it work?
10% of all Booga Beras mint proceeds will go into the HoneyPot treasury, which will start building rewards for holders. We have also built mechanisms where a portion of BB ecosystem rewards is also funneled into the treasury, growing its size through time. At first, our team will decide how to use these funds, but later on, through proposals made via The Warden contract, the community can take over decision-making.
The HoneyPot is the community war chest. It gives all BB holders a collective power to strategically deploy capital and make impactful moves in the Berachain ecosystem. While going solo might be tough, as a community, BB will have enough influence to cause an effect and make our community thrive.
Examples of Deployments
(This section of the article will be periodically updated)
Our team is actively shaping the initial makeup of the treasury, forging partnerships, and identifying the best opportunities for deploying our funds. We’ve already set some plans in motion and will keep rolling out more updates. Here’s a look at where we’re currently channeling the treasury:
Kodiak Finance: We’re channeling part of our treasury to provide liquidity in Kodiak Pools, which will allow us to farm $KDK, $BGT, and collect transaction fees.
Ramen Finance: We’re investing in $Ramen, locking it to obtain $gRamen, which secures guaranteed allocations for BB holders in all of Ramen’s upcoming IDOs — perfect if our holders wish to jump into one.
Honeypot Finance: We’re putting funds into $HPOT to tap into HenloDex and Dreampad, and to explore options for future bootstrapping events.
Infrared Finance: We’re routing liquidity through vaults to our LST pools to farm $IRED and $IBGT. We believe $IRED will be one of the most important tokens in Berachain. (NFA)
Stay tuned! We’re continuously updating this list as new opportunities arise.
Booga Beras Value Stream
The core idea behind our treasury is simple: as Berachain grows, so does our treasury, ensuring our community’s interests are perfectly aligned with the broader chain’s success. We’re diversifying the treasury’s assets to include potential leaders within the ecosystem, setting our community up to benefit alongside them.
This treasury not only supports other protocols by providing liquidity but also aligns our interests, paving the way for future rewards. Owned entirely by Booga Beras holders, it serves as a robust foundation for future growth and community-driven expansion.
Our team is committed to respecting the governance decisions related to the treasury, and we’ll continue to support and maintain the infrastructure we’re building. Stay tuned for more updates on how this treasury will become a pivotal element in the Booga Beras expansion!
To learn more check out Booga Beras socials below:
Twitter: https://twitter.com/BoogaBeras
