bEarn.Fi, a cross-chain and auto yield farming protocol, has added another product to the decentralized ecosystem, bPower. bPower is a unique loyalty system where members earn exclusive benefits & rewards.
To celebrate the growing support from the community amidst the ever-increasing improvement, bEarn.Fi has introduced bPower. The team made the following announcement on Twitter:cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=96f1f04c5f4143bcb0f2e68c87d65feb&schema=twitter&url=https%3A//twitter.com/bearnfi/status/1388153464065183753&image=https%3A//abs.twimg.com/errors/logo46x38.png
How Does bPower Work?
The description of the product implies that bPower is a loyalty program, it offers users numerous incentives. According to bEarn, only 20 users will unlock the Diamond Hand tier and receive all rewards. There are three tiers/levels of loyalty:
20 slots for Diamond Hand: Lock 50 BFI + 100,000 BDO for 100 bPower Index
50 slots for Platinum Hand: lock 25 BFI + 50,000 BDO for 50 bPower Index
1000 slots for Golden Hand: Lock 5 BFI + 10,000 BDO for 10 bPower Index
The image above is just a mock-up. The correct image will be displayed on-site immediately after launch.
Benefits of bPower
Shared Profit is distributed weekly from the entire bEarn ecosystem. This comprises bLending, bVaults, bLucky, bDex, and many others. In summary, 6.9% of the profit will be shared to the Diamond Hand, 7.9% goes to Platinum Hand, and 15.2% will be handed to the Golden Hand level.
The percentage shared among all three levels will be distributed according to the number of holders. For instance, Platinum hand gets 7.9% divided by 50 per Platinum hand NFT.
There will be NFTs with bMarket where users can use bPower index to vote for creators who make NFTs. Here, creators with sufficient votes (569 bPower indexes) will sell their NFTs, and voters will earn a 6.9% commission on the NFT sales. The ratio will be based on the bPower index.
The higher the bPower index a user has, the more powerful they become.
Users in farming pools can use this bPower index to stake and earn an exciting Annual Percentage Yield (APY). Also, new pools will be made available.
Priority list on bDEX’s initial DEX offering (IDO). Allocation will be based on the bPower index.
A unique collection of 500 NFTs will be issued to as many that stay for up to 6 months or more in the bPower loyalty program as an extra reward.
These NFTs will be distributed on the 24th of November, 2021, to mark the fist anniversary of the bEarn ecosystem.
How to Activate bPower
To activate the bPower card, users need to lock a reasonable amount of required tokens — BDO and BFI for six months. After this, they will receive an NFT as a proof-of-stake.
Terms and Conditions
The lock-up period is six months. If any user unlocks earlier than this period by burning NFTs, a penalty that attracts a fine will be undertaken. The fine will be distributed at a flat rate to every active loyalty member.
The lock-up period automatically resets after six months, while the countdown will also reset back to default.
If they burn their NFTs and redeem their tokens, their loyalty membership will be rendered useless or invalid.
bPower will be launched on the 4th of May 2021 at 3:00 (UTC+0). Users can also monitor the countdown here.
bEarn.Fi is a cross-chain DeFi ecosystem, which provides many incentives, including yield generation, algorithmic stablecoin, gaming aggregation, treasury, cross-chain bridge, lending, DEX, yield calculator, lottery, NFTs, etc. The protocol also supports both Binance Smart Chain (BSC) blockchain and the Ethereum blockchain.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.