Introducing Bitberry Finance
What is Bitberry Finance?
DeFi is all about empowering users to manage their own asset without relying on centralized institutions. Though this can be liberating in many cases, it can represent a risk, since there are no chargeback features protection mechanisms in place to prevent users from losing their assets by hacking or other technical issues. Bitberry Finance is a decentralized autonomous organization as known as DAO that plans to solve above disadvantage by creating safe, easy, and profitable DeFi platform with merging pros of CeFi platform. Bitberry finance will be governed and operated with the help of Bitberry community through decentralize governance. The team supporting Bitberry Finance aims to continue the effort in delivering quality DeFi products to the community.
Bitberry token holders can provide proposals in operation of Bitberry Finance platform such as choosing yield farming pools, fees, everything related to the managing Bitberry Finance platform. Token holders also will be able to provide strategy contracts and vote on what goes live and when, in order to decentralize autonomous strategy execution.
Bitberry Finance plans to launch following products in near future:
- Liquidity Farming as a token distribution. Stake your token/LP tokens to harvest BBR token
- A Zap is an automated workflow that connects users’ action together. Bitberry Finance’s Zap feature will allow the users to directly exchange Ethereum into LP tokens while saving GAS costs by minimizing actions.
- Bitberry Smart Farm (Beta)
- Bitberry Smart Farm consists concept of proxy farming, which includes referral code under smart contract that will provide users with additional rewards through gathering sub-farmers or inviting others to join.
- Multiple Farm (Beta)
- Multiple farm consists concept of accelerating yield farming. LP supply with BBR will accelerate farming up to 1.5~3 times faster than regular farming.
- Vaults execute strategies to automate the best yield farming opportunities available. Vaults strategies contract using various cryptocurrencies can be also proposed by the community member who holds BBR. Vault strategy contributors are rewarded with some portion of yield generated by the vault
Majority of the token supply (2,700,000 BBR) will be distributed over the next three months through liquidity farming pools. The farming schedule will be based on block counts as follows:
- Farming Start : 11483000 block
- Farming Bonus : 11533000 block
- Farming End : 12083000 block
Liquidity farming from Bitberry Finance will start with single token called FarmBBR($fBBR) token to begin with. FarmBBR token is the new concept brought by Bitberry Finance in liquidity farming in order to provide the users to secure their original asset.
FarmBBR token($fBBR) is new concept in liquidity farming that will allow the users to securely save their original asset. fBBR Token is solely used to participate for the liquidity farming in Bitberry Finance.
Users of Bitberry wallet can exchange their tokens with certain ratio to earn FarmBBR token to participate in liquidity farming. FarmBBR token has similar concept to y~ tokens from Yearn, or c~tokens from Compound. Exchanging other tokens to earn FarmBBR token does not mean that it is a permanent exchange. Users can exchange their FarmBBR token back to their original asset that was staked(exchanged) at any time. All the staked tokens will be securely saved under Bitberry wallet.
Utility of Bitberry Token
Unlike other DeFi platforms’ governance token, Bitberry Token (BBR) will be supported with various utility, which will provided the connection between Bitberry’s DeFi and CeFi platform.
- BBR will be used as a fee of Bitberry wallet. In the future, when the users select BBR as a transfer fee, they can get a 50% discount in token transfer.
- In addition to transfer fee discount, if the users use CeFi fund product(Deposit & Earn) that runs within Bitberry wallet with BBR, they can get a 50% discount from operation fee.
- Vault strategy contract will include BBR-only Vault contract which will require BBR to participate
- Bitberry Smart Farm with the concept of proxy farming in the future, lower-level farmers can be hired only by depositing BBR. The users need to hold certain amount of BBR in order to earn commission from sub armers as additional bonuses, which can lead to bigger rewards in the future.
- In the tentatively named BBS (Bitberry Season 2), LP supply using BBR would accelerate the farming up to 1.5 ~3 times faster than regular farming. therefore, holding a certain amount of BBR at all times will be a way to secure the rewards from Bitberry Smart Farm and Bitberry Season 2. The users should own a BBR equivalent to at least 10,000 USDT in order to gain an edge in the proxy farming conducted at Bitberry Smart farm.
Token metrics & Registory
The total supply of 3,000,000 BBR will be minted for the liquidity farming purpose. 200,000 BBR will be placed in dev address for the Bitberry Finance team, which is around 6.7% of the total supply. Rest of 2,800,000 BBR will be distributed to the token holders with liquidity farming.
- Total Supply: 3,000,000 BBR (100%)
- Liquidity Farming: 2,800,000 BBR (93.3%)
- Dev: 200,000 BBR (6.7%)
- Bitberry Token(BBR) Contract Address:
- BBR Pool Contract Address:
- Dev Wallet Address:
- Farm BBR Token Address:
The total supply of Bitberry token will be set to 3,000,000 BBR, unless the community decides to mint more.