BRO Migration To Arbitrum
After we burned 45% of all tokens, we are continuing with the plan and migrating to Arbitrum. It is driven by the capability of building superior strategies and vaults on Arbitrum, including the sought-after V3 Delta Neutral Strategies. They’re showing impressive metrics, with ATH TVL and a strong DeFi ecosystem we can build around.
The migration process will be smooth and the tokens will be dropped into your wallets without the need to manually link your addresses.
UPDATE — BROKKR IS LIVE ON ARBITRUM (💙,🧡)
BRO = 0x2b45e21C35A33C58E4C5ce82A82466b0754Fd154
bBRO = 0x5730a208Ccce127dba8b3a3ED387B1AA789b4754
🐦 Migration Overview
All BRO and bBRO tokens will be migrated from Avalanche to Arbitrum. It will include wallet, staking, and LP balances as well as staking rewards. For the calculation, we use the snapshot from Feb 12th at 10:15 UTC.
• Wallet balances — Airdropped to Arbitrum wallets
• Staking balances — Airdropped staked with an initial lock period
• Staking rewards — Airdropped alongside the BRO and bBRO wallet balances to Arbitrum wallets
To simplify the process, BRO & bBRO wallet holdings, staking rewards, and LP shares will be airdropped directly to your wallets. The tokens will be dropped to the same Arbitrum addresses that held the tokens on Avalanche. If you hold the tokens in a smart contract wallet, let us know, they require manual adjustments.
Staking balances will come with an initial 31-day lock period, post which (March 25th), they will be fully withdrawable, independent of Avalanche’s unstaking period.
Terra migrators can use the current migration tool, the ones who already linked their wallet and are waiting will be migrated directly to Arbitrum.
🥩 Staking Updates
In preparation for the airdrop, we discovered a bug in our former staking rewards mechanism (even though it was audited!). No exploits were possible, but it was rewarding users more than what was planned. Because of that, we rescheduled the migration date and developed a simplified staking version.
We’re removing the unstaking period to simplify the process. Now, staking and unstaking can happen freely with rewards tied to the amount staked. Only the “airdropped” staked tokens come with the initial 31 day lock.
Updated Staking
• Removing unstaking period
• BRO and bBRO rewards are calculated based on the amount staked
The next updates will bring RealYield from our vaults to bBRO holders. Then we will implement governance features like voting on incentive distribution between the vaults, selecting pools and strategies, and more.
🚰 BRO Pool on UniswapV3
Post-migration, we will open a BRO-WETH 1% pool on UniswapV3. We automate V3 liquidity providing and it only makes sense we do it also for our own pool. We will leverage V3’s benefits for more efficient trading (less liquidity needed for bigger trades), increased fee generation, and reduced slippage.
The pool will open at the price point from when we withdrew liquidity on Avalanche
After the pool is live, we will start working on the liquidity incentives mechanics, so we can incentivize users of all our vaults.
Follow Brokkr on:
🌎 BRO Website
🐦 BRO Twitter
🎮 BRO Discord
