BEARN FI MONTHLY REVIEW — APRIL 2021
Dear bEarn community,
We understand the importance of communication and staying in touch with our members and investors. Thus, in an effort to improve on our communication we have been doing a monthly newsletter/summary post which will be released by the first week of every month! By doing this we hope to keep all members up-to-date with the latest changes and news concerning our favourite ecosystem. Please continue reading to find out what is next in store for bEarn & bDollar, as well as a quick breakdown of everything that has happened in the recent week.
What’s Next in Store?
➡️ One of the main priorities of the developers at this time is to adapt to the V2 PancakeSwap LP migration. Please be advised that currently most of the bVaults.fi/ as well as farm pools are still using V1 LP. If you are using these services right now — you do not need to act. Simply keep using the vaults/pools and continue earning! We will be sure to make an announcement when you need to migrate to V2 LP. If you are new and wish to use one of the V1 services, please be aware that PancakeSwap has disabled creation of V1 LP. However, there is a workaround way to create V1 LP through goosedefi.com/ and app.cafeswap.finance/ which some of our members have reported using. If you are eager to use V1 LP and do not want to wait until V2 LP, you have the option of giving these services a try to create V1 LP. Of course, please understand these projects are not associated with us — do your own research before jumping in.
➡️ With that being said — we are happy to announce some progress with the V2 LP situation! The BFI-BNB vault on bVaults.fi/ now supports V2 LP. Please migrate V1 BFI-BNB LP on PancakeSwap.finance/ to V2 LP and stake your LP tokens into the new vault to take advantage of the new high APY!
➡️ The next thing to mention is the upcoming arrival of two major features — bPower and bDEX! Before we release bPower we will first publish an article and allow some time in order to educate our user base. We want to ensure a smooth transition with the introduction of new features and make sure that everyone has an opportunity to benefit from the ecosystem.
➡️ bPower as you might have heard is intended to be a loyalty system to reward long-term holders and users of the ecosystem. It will be involved in earning a percentage of the profits from the entire ecosystem. Additionally, bPower will be integrated with certain governance mechanics such as voting for NFTs on our native marketplace and earning commissions from sponsored artworks!
➡️ bDEX is going to be our new home and native token exchange service. We would like to offer the community the best exchange rates and swap routes for token swaps. With this, we will also be introducing a new burn mechanism to make BDO become a deflationary token. Fees collected through the bDEX will be used to continuously burn BDO and reduce circulating supply. In addition to this — the bDEX will offer services such as margin trading as well as limit orders, so that you can purchase tokens on your own terms! We will also be introducing a native bDEX LP which may be used within our own ecosystem. This way — we will be safe from PancakeSwap LP migration fiascos in the future. These are just some of the details we can share with you at this time. Be aware that most of the development for this feature has already been done — and we are in the process of running final testing to ensure a #SAFU and secure launch coming SOON.
➡️ Of course, we are not forgetting about bLending! The team is hard at work to move bLending out of alpha and introduce a variety of different assets available to lend and borrow through the protocol. One cool feature to mention is Double-dipping sBDO into the Boardroom (receive xsBDO) and staking xsBDO in bLending will allow users to earn in the boardroom at the same time as receiving rewards in bLending! We are also moving forward as fast as we can on our partnership with Midas to make MDO available for use.
➡️ We are making some changes in the roadmap to push the whole ecosystem forward, we can name some upcoming news/products such as:
- bPepe (NFTs)
- Major New UI to simplify all our ecosystem
- bLottery V2
- Multi-Peg: Coupons update
- Double-dipping for Boardroom stakers
- Bonds V2
- More partnerships
All of this and more can be expected to be released throughout the month of May! We humbly apologize for any delays, and would like to thank our most loyal investors and members for their continued support. It has been a bumpy ride in recent times, and we want you to know we are right there with you. We will keep building/improving and doing our best to adapt to the current market situation. Please note that we are not ignoring the status of the BDO peg and other Multi-Pegs, we are doing our best to expand the ecosystem and provide as many use cases and burn mechanisms as we can in order to benefit our users/community.
💪 THIS IS NOT THE END, THIS IS ONLY THE BEGINNING! 💪…
About bEarn Fi
bEarn Fi is a cross-chain product in Decentralized Finance (DeFi) that at its core provides yield generation, algorithmic stablecoin, gaming aggregation, cross-chain bridge, treasury, lending, DEX, yield calculator, lottery, NFTs and governance on multi-chain: Binance Smart Chain blockchain (BSC) and Ethereum blockchain.
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