Supply, Issuance, & Rewards
The main token for reward distribution of generated yields, is the native BST token. Users earn BST tokens in three ways:
- staking in Oceanpoint's Governance pool,
- providing liquidity on community selected liquidity pools or stable pools,
- staking a tokenized real estate property in Oceanpoint's Asset pool,
BST tokens are dropped to pools (on unscheduled times), and held by the rewarded pool smart contract until the user withdraws from that pool, which triggers the contract to deliver the BST to their address.
40% out of the 100M BST total supply have been allocated for liquidity mining. Although this initially set amount to incentivise the early community could be changed through a governance vote, the distribution schedule is currently set to:
- 1,000,000 BST / month for the initial 3 months after launch
- 500,000 BST / month until the 40M BST is reached (approx. 6 years)
Liquidity mining is a mechanism or process in which participants supply cryptocurrencies into liquidity pools, and are rewarded with fees and tokens based on their share.
Rewards will initially be directed 100% to the Governance pool. Once real estate staking is introduced with v0.2, the monthly reward will be split 50/50 between Governance pool and the first Asset pool for real estate owners.
With v0.3, when Liquidity pools are introduced, the BST:ETH liquidity pool deployed on Uniswap v2 will receive 50% of monthly BST rewards, while the Governance pool and Asset pool shall split 50/50 the remaining 50%. The split between pools shall from that point on be governed by the community through voting, however, the team encourages a split as depicted in the graphic below.
Once real estate owners start staking in the Asset pool, their real estate asset tokens i.e. BSPT become part of Oceanpoint, and after the 6 months lock-up period, these tokenized properties might become available for the community to acquire the legal rights to revenues generated by these real estate assets.
Members of the community will be able to stake BSPT tokens with the introduction of the Community asset pool with v0.4 to redirect DAI revenues to the DAO's treasury while receiving a compensation in BST rewards.
Initially, the accumulated revenues will be used by the DAO's Governance board to execute BST token purchases on the open market so that the acquired BST can be then burned, effectively decreasing token supply.
Note that BST is a regular old school ERC-20 token deployed in 2018 and that the only mechanism to "burn" tokens is to send them to the Ethereum "dead" address
Sending tokens to the above address does not reflect on circulating supply value, however, it does effectively lock out that amount from circulation as the address has no known corresponding private key.
- Token ticker symbol: BST
- Total supply: 100,000,000 BST
- Team BST vesting: 24 months after launch of v0.1 (22.2.2024)
- Mentors BST vesting: 12 months after launch of v0.1 (22.2.2023)