Key Models

Aligning Emission rate of BXT with the growth of BaseX

In Solidly, emissions declined too quickly and had too high of a rebase for veToken lockers, disincentivizing late entrants. To address this, we have made adjustments on a few things with BXT:

• The token distribution rate in BXT will undergo weekly adjustments, influenced by the circulating supply rate. A minimum reduction of 0.5% in previous emissions per week will be implemented, ensuring a controlled and sustainable distribution over time.

• There will not be voter emissions boost: This discourages liquidity providers with differential emission on providing the same liquidity.

• Trading rewards as tBXT tokens(coming soon): To encourage people to actively trade on Bdex, there will be tBXT rewards to traders in proportion to the trading fees paid. tBXT can be vested if you have veBXT locked.

These improvements ensure that early adopters are adequately rewarded while still preserving appealing opportunities for future participants. Our enhanced emissions model promotes equality and sustains long-term operation within the protocol.

The win-win model for liquidity providers and BaseX protocol owners

In BaseX, we take a unique approach by having two tokens, BXT and BDT. They are both incentivized by protocols fees, rebases and bribes, instead of solely focusing rewards for liquidity providers. By aligning the interests of token holders and liquidity providers, this mechanism aims to create a balanced reward system. As participants lock/stake their BXT/BDT, they receive a certain % of the fees generated and bribes by the pools they vote for. Consequently, pool initiators can set a higher bribes to boost their share of BXT emission, promoting a sustainable and efficient revenue-sharing model for the ecosystem.

veBXT formed as an NFT

veBXT represents the vote-escrowed counterpart of BXT, obtained by locking BXT tokens for up to 2 years. The duration of the lock influences the amount of veBXT voting power received.

Tokenizing the lock position enables a single address to own multiple locks for BXT, with their balances being cumulative and contributing to the overall veBXT balance. This feature allows veBXT positions can be merged, split, and sold on the secondary market.

Voting

veBXT holders determine the allocation of emissions among liquidity pools during each epoch. By voting on their preferred liquidity pool gauges, they influence the distribution of BXT emissions, ensuring a fair and decentralized process.

For voting, in BaseX each epoch lasts for 7 days, after which the bribes are distributed. You earn only from the pools that you have voted for. Bribes are claimable as a lump sum after the next Epoch has ended (n+2) Vote weights reset each Epoch. You have to vote weekly in order to be eligible for the fees and bribes; there will be an optimizer pool(coming soon) in BaseX so that you do not need to worry about skipping the weekly vote. You can change or reset your vote at any time.

BXT Staking pool

BXT staking pool shares 30% of the trading fees earned in real yield as ETH. They are claimable after each Epoch.