🟢Governance pool

This feature is LIVE since v0.1

Current reward schedule

125,000 BST / month

At launch, Oceanpoint offers a simple, one-sided interest-yielding Governance pool that enable users to passively increase their holdings by simply depositing the desired amount of BST to earn staking rewards. The Governance pool is the first product on Oceanpoint and awards users with sBST — the governance token used by the community to vote on Oceanpoint related decisions. Governance polls are available via snapshot.

Pool mechanics

The Governance pool is designed for accessibility. Connect your wallet (e.g. MetaMask) with BST as the deposit asset, and make your deposit through the Oceanpoint web interface. When you deposit, you’ll receive a sBST token that represents your stake in the pool. As the pool accrues more BST (liquidity mining, rewards, asset revenues), that tokenized stake will grant more of the underlying asset. To exit the pool, simply send your sBST back, and you will receive the underlying asset. While your funds are in the pool, you are free to move your tokenized stake to other wallets you control, perhaps to deposit it into an interest-generating strategy on other DeFi protocols.

There are no fees to deposit to or withdraw from the Governance pool (beyond Ethereum gas fees).

After a user deposits their BST to the Governance pool, a 48 hour lock period disables withdrawals for the user. This security feature is designed to prevent front running reward distributions and promote long-term participation.

While the addReward function is an external function that can be called by anyone to deposit BST rewards into the governance pool, it is unlikely non Oceanpoint accounts and contracts shall use it. Nonetheless, if someone else would call it, this would essentially be accounted as a “donation”.