Written by team advisor, @PabloTreff
$REFI x $BENT
We are pleased to announce an upcoming, one of a kind, AMA with the highly regarded team from @BENT_Finance ($BENT).
Our head farmer @hufhaus9 along with our advisory team have been working diligently, connecting with respected projects to provide our community with access and exposure to alpha opportunities.
The $BENT team are well respected in the space, having developed an innovative staking platform that allows users to stake a range of protocols after being placed in an LP in addition to offering single sided staking.
The Bent community is mainly comprised of a concentrated group of OG wallet holders, with the owner count of $BENT currently less than 150 holders. The TVL is sitting at USD $61,378,399.66 so we see this as a premium position for our treasury.
$REFI is already enjoying the performance derived from the $BENT offering, the community can view our $BENT / $CVX holding within our performance report. We will announce official release date of our one of a kind AMA soon and will continue to host high calibre teams on both our podcast and AMA platforms.
We want to provide our investors and the broader FaaS community with an insight into our investment mandate, process and the quality of the teams behind our investee protocols. In addition, we will continue to showcase institutional grade protocols and investments that we see as desirable and a value add for our community.
This AMA is going to be a little different… We hope you take the time to tune in and will announce our official dates soon.
As our farming wallet grows, we will continue to deploy assets towards high value plays.
A little bit about $BENT, from the team’s WP:
Like CVX, BENT has been developed by an “anon team” and is more or less to CVX what CVX is to CRV, this is how it works:
- Anon will deposit stables to Curve but not “stake in gauge”
- Instead of staking these Curve LP tokens in Convex, they stake them in BENT which yields out all of the Convex rewards they would have received by directly staking on Convex minus 17% (more on this below) plus this yields a healthy amount of BENT, which will make up for and more than the 17% slash. Keep in mind this system is emulated from convex which itself takes a 17% clip from crv deposits.
- Anon can also stake in the DAI/BENT pool on Sushi Swap for happy rewards or participate in BENT staking or CVX staking.
- CVX staking will be used to vote on the Convex Gauge and controlled by the BENT stakers.
Fun right? The end result here is by staking your Curve LP or CVX into BENT instead of Convex you will yield more and this allows BENT stakers to effectively get a piece to control the Curve Gauge vote in a practical manner.
If you would like to learn more about $BENT ahead of our AMA check out their WP: https://docs.bentfinance.com/
