Beluga Power is live! Farm non-dilutive BELUGA incentives via Beluga’s beBEETS vault! beBEETS holders can now farm BP tokens with their beBEETS holdings!
What is BP?
BP is a new non-dilutive incentive system built by Beluga. Each BP token represents 1 BELUGA of voting power in governance. This is designed to incentivize users to lock into our vault whilst also being non-dilutive to BELUGA supply!
New BP tokens are distributed every “epoch” which is a period of 2 weeks in total. This is in sync with the likes of gauge votes from Panicswap and BeethovenX. As long as you hold beBEETS tokens in your wallet, you will earn BP rewards!
Voting Dilution Protection
One of the key design factors of BP is protection from dilution of BELUGA supply in governance votes.
We handle dilution through a system of balance resetting. On every new epoch, the balance of BP holders is reset to 0, preventing long-term dilution of BELUGA voting power!
Users with claimable BP on our beBEETS vault will not be reset on each epoch, creating an incentive to stockpile BP rewards to grow held/farmed voting power for a later time.
BP also creates a use-case for secondary voting power markets which will allow for holders of BP to trade their voting power! Beluga will be launching an orderbook system for trading this voting power on secondary!
Initial Epoch + Distribution
This Medium post marks the first epoch of BP!
The initial epoch of BP will last until the end of BeethovenX’s gauge vote of this week. Once the vote ends, BP’s epoch will advance to epoch 2 and the supply of BP will be reset.
To kickstart BP’s initial incentives, Beluga will be distributed a total of 3 BP for the next 2 1/2 days to holders/users of our beBEETS vault! All you have to do to earn BP is simply lock and watch the BP rewards flow in!
BP incentives for beBEETS will increase in relation to the amount of fBEETS locked in our beBEETS vault.
We suggest joining our Discord to stay tuned for more protocol updates! You can find our links below:
Links
Site — https://app.beluga.fi
Discord — https://discord.gg/AjUaRHmuwp
Twitter — https://twitter.com/beluga_fi
Docs — https://docs.beluga.fi
