🚀 Boosted Finance: It’s Not Rocket Science, It’s Alpha

6 min readSep 1, 2020

⚗️ Experiment

Many of us have watched or participated in decentralized financial (DeFi) socio-economic experiments that have failed miserably — due to the lack of long-term network effects, over-engineered mechanisms, or centralized bias. After scrutinizing these experiments, we have concluded that yield farmers need two things to really succeed: maximum yield and fair farming grounds.

Boosted Finance brings 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 been inspired by Yam’s elegant protocol design, taking key principles while omitting the rebasing mechanism, and implementing the eighth wonder of the world — compound effects. In doing so, we have developed a truly innovative and fair protocol.

Boosted Finance key features:

A fair distribution mechanism that incentivizes key community members to actively take the reins of governance
Fully on-chain governance to enable decentralized control and evolution from Day 1
A governable treasury to reward participation from community members to further support stability in the long run
A first-of-its-kind yield-boosting option that works on the compounding effect of money and maintains long-term prosperity for BOOST holders

BOOST is a governance token for the BOOST treasury. The value of the token will be entirely dependent on the BOOST community who are responsible for the direction via community voting on-chain. We require 13.37 BOOST locked up in a staking contract to propose a submission and 30% of total value locked up for the voting quorum.

🧪 Hypothesis

If a decentralized financial protocol is built to be equally fair with compounded value generation for stakeholders, then the benefits of liquidity farming will be continually prosperous and accessible to users of all backgrounds.

Whether you identify as a whale, degen, or an honest farmer living from ETH to ETH, Boosted Finance is the platform where you get the same access to opportunities and the resources to thrive as everyone else. It is a truly fair playing field.

🔬 Token Distribution

No Pre-Mine. No Founder Allocation. No Venture Capital. In true DeFi spirit, the initial distribution of BOOST will be evenly spread across 10 genesis staking pools with a $20,000 staking caps during first 24 hours to provide an equal-opportunity staking distribution for yield farmers of all backgrounds.

There will be 100,000 BOOST tokens to be fully released over the course of 4 weeks from launch. BOOST will be farmed and allocated every minute based on the proportion of the token staked against the total staked tokens in the same pool.

Strategize early, leverage boosters to maximize yield

The initial distribution of 40,000 BOOST will be evenly distributed across ten staking pools composed of the top DeFi tokens, in the first week of launch. These pools have been carefully chosen to cover all facets of DeFi, specifically including communities that have strong commitment to decentralized technologies.

60,000 BOOST will be equally distributed through two internal BOOST staking pools with a duration of 2 weeks each. The first pool will be set up through Uniswap and will be initiated 48 hours after the launch of genesis farming pools. The second pool will be set up through SushiSwap and will be initiated shortly after liquidity migration has taken place on SushiSwap (the countdown timer to the event can be found here).

🌌 Genesis Farming Pools

Lending Protocols: Compound Soils (COMP), Mount Maker (MKR), Aave Nauts (LEND)
DeFi OGs/Leaders: Synth Spartans (SNX), Kyber Corp (KNC), Ren Moon (REN)
Oracles: Marine Corps (LINK), Band Wagons (BAND)
Store of Value: Yearn Alpha (YFI)
Lunch: Omakase Sushi (SUSHI)

👨‍🚀 Booster Mechanism

Boosted Finance introduces a never-seen-before ‘booster’, a mechanism that accelerates and amplifies the potential yield of the purchaser’s crops. It’s not rocket science, it’s alpha — honest farmers can purchase a booster with BOOST which increases yield by 5% up to a maximum of 5 times.

To decrease supply, 50% of BOOST spent on booster purchases will be burnt with the other 50% swapped into yCRV and put into the governable treasury to further support stability. With time and strategy, participants who deploy resources efficiently will outperform counter-parties who are less effective with capital allocation and boosters.

Booster purchases are independent for each farming pool with the cost increasing by 5% for each purchase in a particular farming pool. There is also a cool-down of 60 minutes for subsequent Booster purchases to prevent gas wars and maintain equal opportunity.

Boosters are tied to individual staking pools, not transferable to other pools, and active throughout the staking duration. For example, if a farmer purchases a booster through BAND pool, the booster will last until the final moment of the genesis pool at the end of 7 days.

Note: Boosters are only available 48 hours after the commencement of genesis pools.

👨‍⚖️ Governance

Using a modified YFI governance model, the community will be able to submit governance proposals 48 hours after launch by locking up 13.37 BOOST in a staking contract for three days. Each proposal will have a duration of 2 days during which the proposer can submit the withdrawal amount and address if they wish to claim yCRV for the proposal.

Once confirmed as voting for or against in a governance proposal, stakers will not be able to switch votes.

Proposals can only be resolved after the two-day duration, and once resolved as either a ‘pass’ or ‘fail’, it cannot be resolved again to prevent multiple withdrawals for successful proposals. To discourage bad proposals, if the proposers ask for more than 1000 yCRV and a 5% minimum quorum is not met, the entire stake will be slashed, converted to yCRV and transferred to the governance contract.

Quorums are determined by the total supply at the time of proposal resolution and must hit a minimum of 30% quorum, more votes for than against, to pass.

📖 Audits

There have been no official third-party audits for Boosted Finance although core contributors have made extensive efforts to secure smart contracts including forking the codebases of notable and established projects.

⚠️ We urge all users who engage with staking contracts to self-audit and read through contracts before putting your tokens at stake. You will be using this BETA product at your own risk.

Security is important to us. We invite Trail of Bits, PeckShield, OpenZeppelin, Consensys, Certik, and Quantstamp, and more to audit the contracts. We will be submitting a governance proposal to award the firms that audit Boosted Finance from the fully governable BOOST treasury.

🛰 Summary of Details

Smart Contracts: https://github.com/Boosted-Finance/smart-contracts/

Token Address: 0x3e780920601D61cEdb860fe9c4a90c9EA6A35E78

GitHub: https://github.com/Boosted-Finance

Twitter: https://twitter.com/BoostedFinance

Hosted Interface: https://boosted.finance

Initial Protocol Parameters

Total Supply: 100,000 BOOST

BOOST Threshold to Submit Governance Proposal: 13.37 BOOST

Quorum for Governance Proposals: 30%

Proposal Voting Period: 48 hours

Wave 1 Distribution

Pools (10):
COMP: 0x39CD2Fc7BAc954ABc3C1b6dA1CD467fA44f4f3BD
MKR: 0x40aFeF1b846D0a4EEf601Cf2B2117468eF63643C
LEND: 0x383F3Ba9B39011f658e55a4c24c648851A4A8b60
SNX: 0xf8Cb70658F7eC2bdC51d65323300b4cd0B5c6301
REN: 0x1dfF57d28C30F094235f0244939194B1223e66e1
YFI: 0x3EE27441449B2DfC705E3C237FFd75826870120A
LINK: 0x57fbd512a440CCE6832c62fD63c54A0A9f545F8a
BAND: 0x3080869CF796d944cB4fb3C47D7084f8E8D3d22a
SUSHI: 0xC7491fcDfc8af10d5a8Bc9C13b60B85209C0dc59
KNC: 0x90dfbaDDf8f213185004bB200eDbB554E1F13D52

Distribution Amount in total: 40,000 BOOST (evenly split across 10 pools each, 4000 BOOST / pool)

Effective BOOST Mined Per Pool: ~0.397/minute, ~23.8/hour, ~571/day

Distribution Period: 7 days

Launch: Tuesday Sep 1 2020, 1:00PM UTC

First day staking limit: US$20,000 per wallet per genesis pool

Prices have been taken 12 hours prior to the commencement of genesis pool staking.

First day staking cap by genesis pool:

COMP: $251.89 = 79.3997379808647
MKR: $690.02 = 28.9846671110982
LEND: $0.73491 = 27214.2167068076
SNX: $7.49 = 2670.22696929239
REN: $0.56933 = 35129.0112939771
YFI: $33968.42 = 0.58878216884977
LINK: $15.76 = 1269.03553299492
BAND: $13.13 = 1523.22924600152
SUSHI: $6.42 = 3115.26479750779
KNC: $1.81 = 11049.7237569061

Wave 2 Distribution

Pool: BOOST-WETH (Uniswap)

Distribution Amount: 30,000 BOOST

BOOST Mined Per Pool: ~1.49/minute, ~89.3/hour, ~2143/day

Distribution Period: 14 days

Launch: Thursday, Sep 3, 2020, 1:00PM UTC

Wave 3 Distribution

Pools: TBD (SushiSwap)