SMART Yield Senior Rewards Program

Please refer to the corresponding forum post for background on this proposal:

• https://forum.barnbridge.com/t/smart-yield-rewards-remix/411

A number of important elements were pointed out over the course of community discussion:

• Existing junior TVL would need to be incentivized to move over prior to their rewards ending
• Holding multiple snapshot periods could encourage earlier deposits
• While this could trigger a run on juniors, the last juniors to remain would in theory see significantly levered yields (anywhere between 2x - 8x), should they be on the opposite side of a significant sum of seniors

The terms for the reward program being proposed are as follows:

• 100,000 BOND will be set aside and distributed to eligible participants over the course of February 2022
• To be eligible, sBonds need to have been minted prior to August 31st, 2021 on Ethereum mainnet and have an expiration date on or after January 30th, 2022.
• The calculation for reward share will be a function of when you minted your sBond(s)

Please refer to the following mapping for how your sBond(s) will be valued when calculating your share of the rewards pool (all dates in UTC):

-- Prior to August 9th: 100% of sBond value -- On August 9th or before August 16th: 50% of sBond value -- On August 16th or before August 23rd: 25% of sBond value -- On August 23rd or before Sept. 1st: 10% of sBond value

Program progress will be tracked via a publicly available Google sheet.