Addition of incentive token wgBERA to Yeet BGT Auction

Proposals Reward Vaults
1

Abstract

Addition of new incentive token, wgBERA, to an existing reward vault. Please note that the vault already has wBERA and YEET as incentive tokens. We wish to add wgBERA in addition to these, not replace either of them.

Details

Reward Vault

New Incentive token

  • Name: Wrapped gBERA

  • Symbol: wgBERA

  • Token Contract Address: 0xD77552D3849ab4D8C3b189A9582d0ba4C1F4f912

  • Tokenomics, Distribution, and Vesting (links to official docs, website, etc.): smilee-finance.gitbook.io

  • Identify any address(es) controlling more than 10% (address / type: team, foundation, investor, etc.): wgBERA Address Identification - Google Sheets

  • Does the project issuing the token have any relationship with current Berachain validators? Yes

  • If yes, which ones? Smilee Validator

  • Total Supply Cap (if any): No Cap

  • Circulating Supply 4,813,876

  • Token Type: LST

  • If either token is a native stablecoin, LST, or governance token, provide extra details on: gBERA provides a decentralized liquid staking token for $BERA. wgBERA is a non-rebasing ERC4626-compliant alternative that increases in value relative to the underlying gBera. It will be possible redeeming 1:1, once withdrawals will be enabled on Berachain network, until then unstaking from gBera won’t be possible. There is no mechanism in place to guarantee the peg, people can swap in and out using the liquidity pool provided.

  • Are token contracts upgradable? No

  • Token Control: Permissionless

  • Is the token contract verified? Yes

  • Is the token a standard ERC20 or any functions have been customized? (e.g. transfer, balance, mint, burn…): wgBERA is an ERC4626. convertToShare and convertToAsset functions have been adjusted to account for rewards accrued into gBERA (rebasing ERC20). Both wgBERA and gBERA designs are based on that of a standard LST.

  • Can the token be paused? No

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