🚀 Boosted Finance: Final Pool Distribution, Booster Changes, Governance Contracts
We are just over two weeks old and have rallied over 1750+ AlphaNauts who have joined us on our Discord. Not to mention the outreach from various community figures on Crypto Twitter and some key ecosystem players looking to get involved — more on this when developments come to fruition!
This is an article to provide a quick overview on the Wave 3 Distribution details, changes to the booster mechanism
We apologise for the timing of the launch, as you may know, gas prices are at an all time high (once again). Hence, do take care when interacting with any smart contract and set the appropriate gas amounts.
Gas Now - ETH Gas Price quotation system based on Pending transactions
All data is based on the pending transaction queue of the mining pool, which is more real-time and accurate than other…
Today alone, we have spent almost 20 ETH on gas and smart contract deployments for Wave 3.
Wave 3 Distribution
Per BFIP7, we have allocated four 90/10 Balancer Pools for the final distribution of BOOST while extending the BOOST-ETH Uniswap LP Pool for an extra 14 days with an additional 12000 BOOST.
To thank Hayden and the Uniswap team, we have decided to create a UNI/BOOST pool in our final distribution. Show him and the Uniswap team some love on Twitter!
12000 BOOST — 50/50 BOOST ETH Uniswap LP
3750 BOOST — 90/10 YFI/BOOST Balancer Pool
3750 BOOST — 90/10 SUSHI/BOOST Balancer Pool
3750 BOOST — 90/10 USDC/BOOST Balancer Pool
3750 BOOST — 90/10 CREAM/BOOST Balancer Pool
3000 BOOST — 90/10 UNI/BOOST Balancer Pool
Launch Time: Thursday September 17 1PM UTC
Distribution Period: 14 Days
Day One Staking Limit: $20000 USD
To participate in the pools, you will need to contribute liquidity via Balancer Labs at a 90% (TOKEN) to 10% BOOST ratio i.e. $90 USDC $10 BOOST. To do so, please use the following link which will provide you access to the Balancer UI filtered for $BOOST pools:
Pool management - Balancer
Balancer is a protocol for programmable liquidity that allows anyone to create liquidity pools. These pools are…
Make sure you are staking in the correct Balancer Pool by cross-checking with the token addresses provided below.
Wave 3 Balancer Pool Token Addresses:
Boost Token: 0x3e780920601D61cEdb860fe9c4a90c9EA6A35E78
Boosted.Finance Staking Contracts & Pool Addresses
USDC-BOOST Pool: 0x80128f108922482C5d2dfe745AF1d89D7Cf39BDC
YFI-BOOST Pool: 0x06281eb6014bED89bD9f252f72796a6cbe7349d8
CREAM-BOOST Pool: 0x32C21af450d9905151e9cE28a430d4FDAb11b261
SUSHI-BOOST Pool: 0xDf1731418e1f8bF2FE336732355d35917aFD9267
UNI-BOOST Pool: 0xfb4468f90991a7b4e9af7ef33e5603d8ea99f2ad
ETH-BOOST Pool: 0x115b9f50f6a13c70792737e2c2990e7b7ac5ea28
Staking Through Etherscan
The core contributing team has been working around the clock to get Wave 3 up and running as efficiently as possible. However, no one could’ve predicted the amazing but Ethereum-congesting impact that came with the unexpected launch of $UNI.
That said, there is currently a global Metamask request issue affecting all front-end decentralized applications including Boosted Finance for users who connect using the Metamask extension. This has not changed anything and is dependent on the traffic on Metamask and their team.
There may be intermittent issues with the UI due to high server traffic on the Metamask side so please be ready to stake through Etherscan should the front-end not work as expected. We have already created the guide for Wave 1 and will be the same for the Wave 3 with different tokens being staked (BPT Balancer tokens in this case).
Staking for B00ST on Etherscan
This is a tutorial on how to participate in Boosted Finance using Etherscan:
Be sure to use the correct token addresses provided above! If you have any questions, reach out to us on Discord and tag our AlphaNauts.
Boosted Finance is still at the current stage unaudited by security firms and an experimental project bringing together the best that DeFi and decentralized technology has to offer: equally fair barrier of entry for all participants, democratic governance, perpetual network effects, and economic theory.
We have listened to our community feedback regarding the pricing of boosters and have implemented some changes into the booster contract:
- Removed max no. of boosters (Boost as many times as u like)
- New pricing mechanism that takes into account different variables and scales proportionately to individual staked amounts (whales pay more, shrimps pay less)
- 1% increase in global boost price for every booster purchase in the vault
- 5% increase for each previously purchased user-booster
- After 10 boosters (boostThreshold) puchases, each booster will further increase (boostScaleFactor) by 20% subsequently
- 2.5% decrease for every 2 hour interval since the last global booster purchase
- Booster price adjusted based on expected increase in boost supply
- With each booster, there is a cooldown of 1 hour
- Boosters still increase user’s stake amount/expected yieldby 5%
- 25% of boosts are burnt, 75% converted to yCRV and sent to treasury
- Contract: https://github.com/Boosted-Finance/smart-contracts/blob/wave3/contracts/BoostRewardsV2.sol
Note: Booster pricing mechanism is experimental and will provide critical feedback in the design for bVaults which are targeted to launch in October
With the Boosted Finance community exploding in ways we couldn’t imagine, we were excited to hear that we have a community that is loyal, intelligent and willing to take the project to the next level.
- Accepts deposits in multiple ERC20 tokens
deposit() function requires token allowance from contract / user
- Currently 5% of all treasury deposits will be allocated to the ecosystem fund to support the project as a whole through audits, grants, community developers, and overall long term sustainability
- The ecosystem fund % is changeable by the community through governance proposals down to a low of 0% and up to a maximum of 15% as we feel like any more would not be fair.
- Users can also directly transfer tokens to the treasury to avoid the ecosystem fund deposit if they wish
- Anyone is able to exchange any ERC20 token in the treasury, as long as
Src != defaultToken (yCRV)
Dest == defaultToken (yCRV)
- Only governance contract/the community can call withdraw()
- Anyone can call withdrawEcoFund() to send funds to ecofund address
- Contract: 0x71151b7AE78459093f1B29583f2B24aEF603cB70
Most of the existing governance contract remains the same with the addition of quadratic voting implemented! This will essentially take the square root of votes (in BOOST) per wallet to ensure a fairer and more equal voting process.
- Not many changes from old governance, except for usage of treasury deposit() and withdraw() APIs
- Quadratic voting implemented
- Contract: 0xd7E6cf7a09DFC8c820f606119e9E5e58e2E34C66