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

⚗️ Experiment

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:

  • 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

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

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

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

👨‍🚀 Booster Mechanism

Example of Yield Booster Effects

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

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

⚠️ 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

Token Address: 0x3e780920601D61cEdb860fe9c4a90c9EA6A35E78

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

Twitter: https://twitter.com/BoostedFinance

Hosted Interface: https://boosted.finance

Initial Protocol Parameters

BOOST Threshold to Submit Governance Proposal: 13.37 BOOST

Quorum for Governance Proposals: 30%

Proposal Voting Period: 48 hours

Wave 1 Distribution

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

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

Distribution Amount: 30,000 BOOST

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

Distribution Period: 14 days

Launch: TBD post-liquidity migration to SushiSwap, migration countdown here (~ Sat Sep 12 2020 14:00 UTC)

🚀 Equally fair #DeFi protocol with compounded value generation for stakeholders

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store