BIPS

Introduction

The BIPS program provides users with an ideal way to earn SELENA and multichain ecosystem rewards. Transparency, fair distribution and maximum rewards are all part of the BIPS structure.

At launch, our initial tokenomics were quite complex. The BIPS program improves our token reward allocation model and improves transparency for users. Overall, this program is ultimately cleaner and easier to understand for users of all experience levels.

The BIPS program will run across multiple seasons. Details for Season 1 follow.

How to earn BIPS?

BIPS can be earned through one of the following ways:

1. Deposits on the money market

2. Borrows on the money market

3. vlSELENA Locks

Breakdown:

• Supplying: Earn 1 BIP per Dollar per Day

• Borrowing: Earns 2 BIPS per Dollar per Day

• vlSELENA : Earns 0.5 BIPS per vlSELENA per Day

As we are in the growth stage, many assets might have a boost. Checkout all the boosts on the markets page.

For example: at the moment USDC has a boost, meaning depositing USDC earns 3 BIPS per Dollar Per Day whilst borrowing earns 6 BIPS per Dollar Per day.

vlSELENA Boost:

vlSELENA is an advanced LP locking mechanism designed to establish deep liquidity for the Synonym ecosystem overall. If you are unfamiliar with vlSELENA , navigate to vlSELENA page to learn more about it. BIPS dramatically improves the vlSELENA mechanism for users and makes achieving a significant points boost even easier:

• You will be eligible for SELENA Emissions & Base Market Rates for simply borrowing & supplying assets.

• If you lock more than 5% of your supplied assets in vlSELENA , you will be eligible for vlSELENA boost.

• Why would you lock vlSELENA ?

  • Get boosted BIPS and increase your allocation for SELENA and ecosystem airdrops.

  • Be eligible for treasury yield & fees.

Inactive vlSELENA Boost

Active vlSELENA Boost: >5% of supplied assets are locked

Remember: a minimum 5% ratio between your total deposit value and vlSELENA value must be maintained at all times to remain eligible for vlSELENA Boost. We suggest locking 10% to account for price volatility.

BIPS Calculation Example | Documentation

Ecosystem Allocations

SELENA is a truly multichain protocol. Wormhole, Arbitrum, Pyth and multiple chain deployments are all key pieces of our platform. What does that mean? Put simply, airdrops and ecosystem allocations from our partners. Earn BIPS, get rewarded. Join us today!