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$BASIN Staking

Introduction

Holding $BASIN is economically disadvantageous and capital efficient. In response to this, the Basin Protocol has implemented native BASIN token single-staking for users to earn incentives on top of their positions.

Revenue Reflection

All incentives need to have a valid source. BASIN staking rewards come from real yield, meaning that native farm token rewards are not emitted for BASIN staking. Instead, protocol revenue is fully deposited into the staking contract weekly. The staking module employs a staking contract forked from Synthetix, which allows efficient weekly reward refreshing, with no need to unstake for BASIN stakers. Protocol Revenue is sourced from the primary three modules
  • Liquidation Fees. A small portion of liquidation fees is given to the protocol.
  • PSM swap fees. All swap fees generated by the PSM module will be directed towards BASIN staking rewards.
  • PoL Revenue. A majority of the revenue of swap fees and external token incentives obtained by PoL are used for rewards.
All pending staking rewards will be consolidated into WETH and reloaded weekly.