📕LrBGT

$LrBGT, your $iBGT printing machine.

1. Overview

What is LrBGT?

LrBGT is a Liquid Restaking Token (LRT) built on top of iBGT, designed to maximize yields through automated compounding and strategic liquidity provision. By creating an LRT for iBGT, LrBGT aims to attract Infrared users while capturing a portion of iBGT's high APR as protocol fees.

Through various Proof of Liquidity (PoL) Vaults, the system farms additional iBGT to compound returns, effectively converting APR into APY. The protocol can utilize multiple LP pools that pair WBERA with different assets (such as LAIR, iBERA, iBGT, or other tokens), providing flexibility and diverse yield opportunities.

Key Benefite:

  • Automated Compounding: Convert iBGT staking APR into APY through automatic reinvestment

  • Multiple Revenue Streams: Earn from iBGT staking, LP farming, and compounding effects

  • Flexible LP Strategies: Support for various WBERA-paired liquidity pools

  • Flexible Deposits: Support for both single-asset and multi-asset deposits

  • No Lock-up Period: Withdraw your assets anytime by burning LrBGT tokens

2. How it works

System Architecture

$LrBGT operates through a system of interconnected smart contracts:

  • LrBGT Token Contract: ERC-20 receipt token representing user deposits

  • LrBGT Vault Contract: Manages asset custody, staking, and unstaking operations

  • Fee Collector Contract: Handles fee collection and distribution

  • Router Contract: Interfaces with DEXs for asset swaps

Core Mechanisms

Deposit flow:

  1. Users deposit iBGT and/or other supported assets (WBERA, LAIR, iBERA, etc.)

  2. System calculates and mints proportional LrBGT tokens

  3. iBGT is automatically staked on Infrared

  4. Other assets are paired with WBERA and provided as liquidity on Kodiak

  5. LP tokens are staked on Infrared to farm additional iBGT

Revenue Processing

  1. Scheduler automatically claims iBGT staking rewards (HONEY + WBERA)

  2. System collects protocol fees from rewards

  3. Remaining rewards are converted to WBERA

  4. WBERA is paired with vault-specific assets based on LP ratios

  5. New LP positions are created and staked

  6. Farmed iBGT is restaked for compounding## 3. User Guide

Getting started

Before using LrBGT, ensure you have:

  • A Web3 wallet connected to Berachain

  • iBGT and/or supported LP assets (WBERA, LAIR, iBERA, etc.)

  • BERA for gas fees

Depositing Assets

Multi-Asset Deposit

Multi-asset deposits require you to provide tokens in the correct ratio:

  1. Select the "Multi-Asset Deposit" tab

  2. Enter the amount for one asset

  3. The interface automatically calculates required amounts for other assets

  4. If you lack sufficient balance for any asset, an "Insufficient Balance" error appears

  5. Click "MAX" to deposit the maximum possible amount based on your smallest asset holding

  6. Approve each token sequentially

  7. Confirm the final deposit transaction

Note: The specific assets required depend on which LP pool strategy the vault is using. Common pairs include LAIR/WBERA, iBERA/WBERA, or iBGT/WBERA.

Single-Asset Deposit

Single-asset deposits offer more flexibility:

  1. Select the "Single-Asset Deposit" tab

  2. Choose your deposit token from available options

  3. Enter the desired amount

  4. Review the estimated swap results and slippage

  5. Approve the selected token

  6. Confirm the deposit transaction

The system automatically swaps your token to achieve the required ratio for the vault's current LP strategy.

Withdrawing Assets

To withdraw your assets:

  1. Enter the amount of LrBGT to burn

  2. Review estimated returns:

    • iBGT amount = Your share × Total staked iBGT

    • WBERA amount = Your share × Total WBERA holdings

    • Other asset amounts = Your share × Total holdings of vault-specific assets

  3. Approve LrBGT for burning

  4. Confirm the withdrawal transaction

3. FAQ

General Questions

Q: What's the difference between LrBGT and iBGT? A: iBGT is staked BGT on Infrared. LrBGT represents a share in a diversified strategy that includes iBGT staking and various WBERA-paired LP farming strategies with automatic compounding.

Q: Which LP pools does LrBGT support? A: LrBGT can utilize any WBERA-paired liquidity pool on Kodiak. This includes pairs like LAIR/WBERA, iBERA/WBERA, iBGT/WBERA, and others. The specific pools used depend on the vault configuration.

Q: Can I deposit only one type of token? A: Yes, single-asset deposits are supported. The protocol automatically swaps to achieve the required ratios based on the vault's current LP strategy.

Q: When can I withdraw my assets? A: You can withdraw anytime by burning your LrBGT tokens. There are no lock-up periods.

Technical Questions

Q: What happens during a single-asset deposit? A: The protocol calculates the required ratio based on the vault's LP strategy, swaps your deposited token through Kodiak to obtain the necessary assets, and then executes the standard deposit flow.

Q: What are the supported tokens? A:

  • Core deposit: iBGT (always supported)

  • LP pair assets: WBERA plus any paired asset (LAIR, iBERA, iBGT, etc.)

  • Single deposits: Any supported token that can be swapped to the required assets

4. Roadmap

Phase 1: Current - Multi-Pool LrBGT (Live)

The current implementation of LrBGT focuses on maximizing yields through:

  • Automated iBGT staking on Infrared

  • Flexible LP strategies with various WBERA-paired pools, starting with WBERA<>LAIR Pool on Kodiak.

  • 24/7 automatic compounding

  • Support for both single and multi-asset deposits

Phase 2: Next - LrBGT Restaking Vaults

The next evolution of LrBGT will introduce restaking capabilities:

  • LrBGT Restaking: Stake your LrBGT tokens in specialized vaults

  • Cross-chain Yields: Access additional rewards through Lair's cross-chain restaking infrastructure

  • Layered Returns: Earn base LrBGT yields plus extra restaking rewards

  • Enhanced Capital Efficiency: Maximize returns on your already-compounding LrBGT position

This innovative approach will allow users to leverage their LrBGT holdings for even greater yields while maintaining the flexibility and automated features of the base protocol.I've added the roadmap section that teases the LrBGT restaking vaults as Phase 2 without going into specific details. The section emphasizes:

  1. The ability to stake LrBGT tokens for additional rewards

  2. Cross-chain yield opportunities through Lair's infrastructure

  3. Layered returns on top of the base compounding strategy

  4. Enhanced capital efficiency

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