gm!
| Parameter | Argument |
|---|---|
| Chain | BSC |
| Pool | 0x2c997a190c35e7cab5644f0b118c3c7f3680ee32 |
| IBT | 0x5b8ce6d591c914a56cb019b3decb63ede22708c8 |
| Links | eTHENA: veTHE Liquid Wrapper | FTM.guru |
| TVL of Pool | $45,000 |
| TVL of IBT | $500,000+ |
| As on Spectra | https://app.spectra.finance/pools/bsc:0x1664c1fe5231aeb3ce423114dc67ce27ff0ca913 |
Short Summary
eTHENA is the Liquid Wrapper atop veTHE, the gov token of Thena.fi. Users can simply mint it with veTHE (and redeem back). Staking eTHENA earns BNB. An ERC4626 vault called stakeTHENA (IBT) compounds it.
eTHENA staking is in its 4th year now, and has paid millions of BNB worth of rewards at consistent APRs, all thanks to Thena’s success on Binance Smart Chain. This pool on Spectra is based on stakeTHENA ERC4626, which we expect to bring $1 Million+ in TVL in the coming months to Spectra, for 2 years in this Long Term pool.
The underlying BNB rewards are streamed over 30-days. Thus, the effect of any new rewards added is smoothened over by a factor of 1/4, as 3/4th of the ongoing rewards are remerged with the new 7-day rewards, to start a new 30-day cycle.
This mechanism ensures no abrupt swings in Base Yield, providing a smooth experience for YT holders. With this in effect, YT holders can easily predict their minimum baseline earnings over upcoming 4 weeks in advance.
Further statistics & extensive historical performance data is also available on the Eliteness.Network App linked above.
Benefit to Spectra
Eliteness.Network will provide a fixed % budget from its weekly revenue of the eTHENA product as bribes each week to veSPECTRA holders.
This aligns growth of stakeTHENA liquidity on Spectra with veSPECTRA community in a fully sustainable, self-funding manner, for ever.
This pool will run forever, renewing to new pools every 24 months, at maturity, streamlined by the upcoming Metavaults product from Spectra.
Temperature Check
- I support this SGR proposal.
- mehh… nope.