This referendum, if approved, will kick off Basilisk’s Liquidity Mining programme by:
Minting 500,000,100 BSX - this will come from the BSX supply allocation of 38,000,000,000 BSX tokens for Liquidity Mining incentives [tokenomics]
Creating a BSX “Global Farm” to distribute the 500M BSX over a ~3 month period to applicable “Yield Farms”
Creating the following 3 “Yield Farms” with 1x multiplier:
BSX <> KSM
BSX <> USDT
BSX <> TNKR
Parameters:
Target TVL in each Yield Farm of $222,222
Loyalty multiplier starting at 1x and trending towards 2x throughout life of farms
Target APR between 20% and 40% depending on how long LP has been in the farm (up to $222,222 TVL in each farm) - total APR scales down beyond this
Rewards are paid in BSX at a rate linked to the amount of BSX in the LP position at the time of deposit into the farm