bernard.finance — Financial stability, taxes, fees, rewards … Built to last
Let’s dive into bernard.finance global economic datas and bernardswap equilibrium.
Hello friends,
While bernardswap is on the way, we would like to look into details in the global bernard.finance economical balance and how we built it to reach sustainability and organic growth over time.
For those that follow us since the beginning you will find here some known informations as well as a lot of new stuff and global summary datas since bernard.finance launched a few months ago.
For newcomers, however, you will discover our ambitions and how we want to integrate blockchain tech and NFTs into a balanced ecosystem built to last.
bernardswap economics and balance
Let’s dig into bernardswap economic choices we made and most importantly why we made them.
The main idea here is to counter balance technical mechanics of bernardswap and $BONES, while giving incentives to users to buy our tokens. A good challenge.
$BONES being the platform token and the staking reward, it will suffer from a natural selling pressure. Also we will have at a certain point to mint $BONES tokens to keep high rewards (will discuss this later).
So we had to find a way to counterbalance the selling pressure due to staking AND to burn tokens due to minting.
Funding the algo is the other priority as it fuels $BARREL and $BERN.
Here is how we will do it.
Staking
bernardswap will provide 7 staking pools and 1 farm at launch.
6 staking pools are reserved to NFT holders and will offer high rewards depending on the NFT rarity. Those pools will be free access, no fees to get in or out.
NFT powered pools will only concern BERN and BARREL, stake them and earn $BONES.
Our objective is to maintain the following range of rewards :
- Around 300% APR for Classic NFT holders
- Around 600% APR for Bronze NFT holders
- Around 4 digits APR for Super NFT holders (Silver and above)
Those numbers highly depend on bernardswap traffic and staking volume. We won’t be able to sustain 4 digits APR if a pool stakes more than a few hundred thousand dollars.
BUT and this is where our ecosystem will shine, the more volume we get, the more tax we make on $BONES sells, so the more buybacks we inject in our coins.
So even if your APR gets lower because of high staking volumes in the BERN pool by example, this actually means we will buyback more BERN and increase your bag value.
The last staking pool is public. Stake BONES, reward BONES. It is an auto compounding pool, no need to harvest manually your tokens, the contract does it automatically. We apply a 0.2% unstaking fee if withdrawn in less than 72 hours. And a 3% performance fee when withdraw.
Those fees will be completely burned.
The only farm will be BONES-BUSD, no fees.
NFT Marketplace
Our marketplace will provide 2 types of sales.
First kind is the one you already know, auctions during Friday NFT. Every week, a new collection of NFTs around Bernardo. Profits to buyback $BERN.
Second type will be fixed price sales. We will put on sales brand new NFTs, that open our pools, at fixed price and available 24/24. Prices will be higher than Friday NFT auctions floor.
We needed a way for new users to access our NFTs whithout waiting for Friday NFT sales but they will have to pay the price for it.
Those fixed price sales profits will be split like this :
- 80% to buyback $BONES and burn
- 20% to the algo
This also means that users can sell NFTs on the marketplace at auction, or fixed price, as they wish.
We will apply a global 2% fee on all marketplace sales.
- 1% to buyback and burn $BONES
- 1% to the algo
Gaming
Using $BONES tokens to play our games is the biggest incentive we built to maintain a good balance in the economy.
The Bernardo Lottery
No particular fees to play lottery, just have some fun.We will distribute 75% of each pot to winners.We will burn the remaining 25% of the pot.
The Bernardo BETS
Oh yeah we did not talk about that yet right ?
Another game based on community betting will be released on bernardswap, we think you’ll love it.
A 3% fee will be applied :
- 1% to buyback $BONES and burn
- 1% to the algo
- 1% to The Bernardo BETS prize pool
Every month the biggest degen of you all will win the Prize pool.
We will drop every infos about it in an other article soon™
The Bernardo Fight Club
The Bernardo Fight Club will be the biggest $BONES sucker as it will be mandatory to level up. It will also include some transaction fees in its mechanics, going back into the ecosystem. More on this later.
$BONES supply
$BONES staking supply is currently 60 M tokens, trackable here 0xfabD6651850F63376f6c0e679d39f0Fc9a60f311
We will use this supply to provide staking rewards to users and we will start minting tokens only when needed, our simulations suggest that minting will start in a few months, it could be earlier if bernardswap makes a LOT of volume but this is a good thing we won’t complain :)
bernard.finance trading algorithm
Our algorithm is the core of our ecosystem since its performance will have a major impact on our tokens behaviour.
We started trading on FTX on spot only (risk close to 0) with a capital of $111,000 raised in presale early July.
And we couldn’t be happier with the algo results, it reached our expectations and even beyond. Consistency, versatility, corrections-proof, great performances.
Here is the summary of its profits since launch, mid July until now.
Auto-compound is the amount we reinject in the algo capital every time we withdraw profits.
Average perf is close to 8.5–10 % per month which was our high end goal and is fantastic results for a spot algo.
We expect profits to greatly increase due to global compounding, $BONES sell tax and bernardswap’s other mechanic as seen earlier.
Based on our past results and algo global datas provided by our partner ganymede we can expect the following performances.
With volumes kicking in on bernardswap, $BONES sell tax (5% to grow algo’s capital) will make profits go exponential. Optimistic scenario projects $440000 of profits to buyback our tokens in 2022.
We do not take into consideration global crypto market cycles as our algo provides the same level of performance in a bear market environment.
Buybacks
Algo profits are reinjected twice a month in bernard.finance ecosystem in the following way :
- 50% to buyback $BARREL tokens
- 30% to buyback $BERN tokens
- 15% to auto-compound
- 5% to buyback $GANY tokens
As much as we think we have a good balance here, we also have to take into consideration the rise of $BONES.
We are thinking about replacing the auto compound profits (15%) to buyback $BONES, because our simulations suggest that $BONES tax will be enough to sustain fresh capital injection in the algo.
However, this kind of change will be proposed and voted first by $BARREL investors as it represents a strategic evolution.
We will soon reach to them.
$BARREL
$BARREL has seen its price declining after a successful fair launch. It was kind of expected considering the pre sale supply distribution applying a selling pressure on the asset.
However we are closer than ever to the end of distribution and with bernardswap launch incentivizing holders to stake and hold, we expect a reversal.
Not due to a magical speculation, but to its core mechanics.
Buybacks from algo profits keep increasing and will skyrocket next year (projections say around $150k cash to buyback $BARREL in 2022) while presale supply will be fully distributed and short term investors will be out.
Global supply also keeps decreasing overtime as we burn every single token we buyback.
$BARREL launch purpose was to fund a capital for our algo to fuel our entire ecosystem while providing a long term risk less investment, it is a success.
$BERN
$BERN is our baby, long live Bernardo.
It found a price floor since a few months and starts building its new trend.
$BERN is backed by our algo and also by our NFT sales. Those went great and will continue to do so as users will finally see their usecase in bernardswap.
Here is a summary of $BERN buybacks since launch.
As seen earlier, algo buybacks will greatly increase in the following months.
As well as NFT buybacks, our whole NFT strategy is based on rarity and pools access, we expect really good liquidity to continue to fuel $BERN.
Circulating supply is around 65T meaning we burnt 35% of the supply already.
Biggest $BERN wallet ( 25T, 30% of the supply) will be completely burned during a coming event :)
v2 ?
We are already planning a migration of $BERN contract in the coming weeks/months. $BERN technical particularities are not really a great fit for a staking platform due to its tax on transfers.
Today’s $BERN tax applies on all transactions, buys, sells and transfers :
- 5% reflect to holders
- 5% burn
We plan to remove the transfer tax as it is actually completely useless and is more a pain in the ass than anything else.
We will also slightly change the burn tax to make it evolve to something more useful to the ecosystem (algo, LP etc.)
We won’t touch the holders reflection tax, this is yours.
We think you now have a better vision now of what we want to do and how, and it is very important for us. That users understand what they invest in.
We want our ecosystem to last and to be profitable over time, no matter how much volume we make, no matter a bull or a bear market. This is your capital we are talking about, and we ain’t fuck around with it.
Transparency is key
bernard.finance
