Testnet Guide
Last updated
Last updated
Welcome to the Beradrome user guide, where we will explain the different key aspects of the Beradrome protocol and what types of rewards you can earn through using it.
What are staking rewards
Staking rewards are accrued by turning your BERO into hiBERO through staking or burning your oBERO into permanent voting power. Staking rewards include BERO, oBERO, Honey and will include BGT in the near future.
What are farm rewards
Farm rewards are rewards gained through staking LP in one of our farms in return for oBERO and LP-centric token rewards. i.e. The Liquidity Trifecta’s Yeet-wBERA LP generates oBERO and accrues KDK and xKDK token rewards from Kodiak Finance.
what are voting rewards / what are bribes
Voting rewards are gained through voting with hiBERO on the voting page. By voting you earn bribes from the protocol whose gauge you are voting on.
Bribes are a way of incentivising you as a user to vote on a protocol’s gauge. Bribes are dripped to you as voting rewards overtime.
what should I vote for?
If profit’s your main concern you should be voting for the gauge with the highest vAPR percentage. If profit’s not your main concern and you’re aligned with a certain protocol i.e. the Liquidity Trifecta you should instead park your votes with them.
Please note that there is only one action per epoch/week. This includes switching your vote and resetting your votes. If you want to stay in your current voting gauge, there is no need to vote again and the votes will stay there when the epoch flips. The only time you will ever need to use the reset votes button is when you want to unstake your hiBERO and repay your loaned Honey if you did so.
Claiming hiBERO/Staking rewards vs Farming rewards vs Voting rewards
With all these different reward types come different claiming criteria.
Let’s start with hiBERO / Staking rewards:
Staking rewards get distributed every Thursday 00:00 UTC, if you claimed after the last distribution and they haven't been distributed they don't show on the UI until the next distribution.
Farming rewards:
Farming rewards accrue overtime from the moment you deposit your LP-tokens. These rewards can be claimed at any moment of time through the farm page’s UI.
Voting rewards:
Voting rewards accrue overtime from the moment you put in your vote on your preferred gauge. You are able to claim your voting rewards at any moment of time through the Voting page’s UI.
Now that we’ve covered all the basics and the different types of rewards let’s get you comfortable with the swapping page.
Swap page
The swapping page is where your journey starts.
The Buy/Sell window allows you to turn your Honey into BERO at market price or sell your BERO into Honey at market price.
The Earn window allows you to stake your BERO into hiBERO, which allows you to get voting power and earn staking rewards. Compared to other ve3,3 protocols Beradrome users enjoy a very short locking period for staking of just one week, instead of years. Unstaking is also done in this window. The third option in this window is to burn your oBERO at no cost into permanently locked voting power. This should be done only when you have no liquidity available to exercise your oBERO.
The final window, the Lend window allows the user to borrow Honey by using your staked hiBERO as collateral. These loans are liquidation and interest free, the only cost is a one time 2.5% fee on the loaned amount. To repay you can simply use the second window to pay your loaned amount back and unlock your collateral hiBERO tokens.
Once there, withdraw your LP tokens and claim any remaining rewards.
Then head over to the new beradrome v2 url (https://bartio.beradrome.com/farms), once again click on manage position.
On the v2 position, deposit your LP tokens.
You have successfully migrated your farm LP tokens!
The Options window allows you to turn your oBERO earned from voting or farm rewards into BERO for the strike price of 1 Honey by using the exercise function. The second option here is to use the redeem function to turn your 1 BERO into 1 Honey, this is generally unprofitable compared to selling it for the market price and you should only use this function if the market reserve is empty.
