Badger Finance
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Sett User Guides - Binance Smart Chain (BSC)
Governance
Token Distribution
WIP Badger Registry
Pre Launch
Vote Locked CVX
A new vault to manage locking and voting with CVX tokens. This vault locks 100% of deposited Convex tokens for rolling periods of 16 weeks. Badger will use locked Convex to vote for higher Curve emissions for the underlying liquidity pools of Badger Setts.
The vault distributes yield in bcvxCRV, Badger’s interest-bearing cvxCRV token, which accrues BADGER rewards.
Important Note: Unlike other Badger Setts, this Vault limits the times when users may withdraw their funds. Please carefully read the sections on Locking and Unlocking.
How to Deposit
This Sett accepts deposits of CVX (Convex Finance governance token).
Locking
This vault locks batches of CVX tokens for a period of 16 weeks.
At launch, the vault will lock 100% of newly deposited tokens once per day. Several weeks after launch, the locks move to a weekly basis.
The daily locking at launch serves to boost the ROI of the Vault and Badger's voting force in Curve governance.
Unlocking and Withdrawal
By design, this vault limits the withdrawal of deposited CVX tokens to certain times, and on a first come first served basis.
During the first 16 weeks, depositors may use only freshly deposited and not-yet-locked CVX for withdrawals. After that, batches of CVX tokens will begin to unlock 16 weeks after they were initially locked. Any users wishing to withdraw, may draw on these unlocked tokens on a first come first served basis for a period of one week, after which any remaining tokens will be re-locked.
After launch, the exact withdrawal dates will be visible in app.badger.com to allow users to plan ahead.
When / if BadgerDAO governance decides to stop locking the assets in the vault, it will still take 16 weeks for all deposits to become fully liquid.
Guarded Launch
This vault was opened for test deposits on September 27th, 2021, as part of Badger's Guarded Launch strategy, with full public launch scheduled for September 30, 2021.
Guarded Launch details:
  • No guestlist (First come, first served deposits up to a $2m cap)
  • 700 BADGER in rewards will be distributed to Vault users over the course of the one week Guarded Launch
  • No single wallet may deposit more than $150k
Emissions & Rewards
  • Underlying rewards are distributed in bcvxCRV (claimable in the app).
  • As approved in BIP 67, the Sett will distribute 2,542 BADGER in week one, 2,300 BADGER in week two, and a 10% BADGER target APR after (claimable in the app).
Fees
  • 0% performance fee
  • 0.10% withdrawal fee
Note: the vault distributes bcvxCRV tokens as rewards, which themselves have an underlying 10% performance and 0.10% withdrawal fees, and also participate in the Badger Boost system.
Convex Voting Delegation
The Sett delegates its CVX voting power to an address controlled by BadgerDAO, which will cast votes to maximize yields of Curve BTC pools that appear in Badger Setts according to the percentage of the Curve pool captured in Badger Setts.
Last modified 1mo ago
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