Mandarin Version:
<aside> 💡 bearn is the staking protocol within the BlablaBlock ecosystem, allowing $BLA token holders to stake their idle $BLA in bearn to authorize BlablaBlock to carry out automatic strategies on Bitfinex exchange to earn more income.
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BlablaBlock team continues to integrate more DeFi applications into the ecosystem, and bearn seamlessly connects the team's developed USDT lending strategy to $BLA holders, providing $BLA holders with more diversified yield sources. The expected annualized percentage yield (APY) is approximately 4% to 8%.
(Update: After the launch of Bearn, we've been running at about 15% for over a month. The Bearn APY is recorded on the website and also in a Google sheet.)
In the crypto world, market volatility can be extremely high, and many people opt for leverage trading on exchanges. As a result, most exchanges offer lending functionalities, although the mechanisms may vary. bearn leverages Bitfinex exchange's Lending Pro to execute automated lending strategies, and allocates lending based on the amount of locked $BLA with returns from lending income to users in the form of $BLA tokens.
Bitfinex's lending feature typically requires manual operation for lending and does not automatically re-lend funds if borrower repaid early (its auto-renew feature typically offers very low rates). Additionally, the feature settings can be cumbersome, making it challenging for the average user to utilize effectively. These reasons make automated lending strategies a means to maximize income potential.
User Interface of Bitfinex Lending Pro
In bearn, BlablaBlock team primarily focuses on executing quantitative lending strategies for its USD stablecoins, including fiat USD and the stablecoin USDT. $BLA token holders can directly participate in lending and earn additional income through bearn.
Currently, the BlablaBlock development team will convert the $BLA tokens stake in the bearn smart contract into a US dollar amount. Based on this amount, 40% will actually be placed into Bitfinex to execute lending strategies. The remaining 60% will be retained in the treasury to continue following the manager's trades. This diversification method better ensures that there's sufficient margin in the treasury to support the copy trading strategy.
$BLA token holders can stake their $BLA tokens into bearn by following these steps: