🐻 A new chapter for Berachain's ecosystem assets, the stBGT new mechanism is officially online!
✅ Supports 1:1 redemption of $BERA
5% fee, processing time of 2 hours, redemption channel never closes
✅ stBGT-BERA LP becomes the main source of income
✅ Limited supply of stBGT to ensure competitive returns
Future income combinations will come from validator collaborations + incentive treasury + BakerDAO fees, making the gameplay more sustainable.
🔗 Related links:
The new stBGT website and mechanics are now ready. Website:
1) stBGT will have 1:1 redemptions into BERA with a 5% redemption fee. Redemptions are open to all, and take around 2 hours to process. BakerDAO will never close redemptions. Redeem here:
2) stBGT single-sided staking is deprecated. stBGT-BERA LP will be the primary form of earning yield. Yield will be kept competitive via validator partnerships and incentives to the reward vault from a combination of yield from boosting validators, @eatsleepyeet and @KodiakFi RFA, and BakerDAO fees.
3) stBGT will not be freely mintable from any reward vault. The supply will be limited to ensure yields will remain competitive. It can only be minted in two ways:
a) LP'ing stBGT-BERA LP on Kodiak and depositing it into the vault on the stBGT website
b) Looping or borrowing on BakerDAO (claim page will be announced this week)
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