B.Protocol is LIVE! Start using the app here - https://bprotocol.org/app If you have a MakerDAO ETH-A Vault or want to open one, you can now get rewarded for managing it via B.Protocol interface, and you can find more details here.
What users get:
- Accumulate B.Protocol Rating
- Get your share of the backstop liquidation proceeds according to their Rating
- Start using B.Protocol early to get more Rating
- First month has Rating accumulation rate of x2
- Contract is already seeded with $10k in ETH
After a 6 months period, 100% of voting power will go to the users, no premining or VC allocation.
Users could vote on a protocol upgrade to determine the future proceeds distribution scheme.
Governance does not, and will not have control over user deposits
B.Protocol is a backstop liquidity protocol for decentralized lending platforms. A new lego primitive bringing traditional finance systems best practices into DeFi, aiming to stabilize the ~$10b market of DeFi assets crucially dependent on adequate liquidation processes
Our first integration is over MakerDAO.
Users can import their ETH-A vault with one click, or open a new Vault using B.Protocol to gain a share of liquidation proceeds. B.Protocol Liquidators share proceeds with users in return for a priority on the liquidation process.
If you need any support as for how to start with B.Protocol or just want to join the on-going discussion please head over to our Discord - https://discord.gg/bJ4guuw. For a deeper dive you can read B.Protocol’s whitepaper here - https://medium.com/b-protocol/b-protocol-b6dd4e3bf9c0….
Who benefits from B.Protocol:
- MakerDAO as a platform becomes more stable due to more committed liquidators
- Liquidators avoid gas wars and shift MEV (Miners Extracted Value) to users
- Users get more from their Vaults while helping to secure the platform
The smart contract code was audited by Solidified.