Mining Distribution Rates
There is currently 1.178 BELT mined per block. 0.178 BELT/block goes to the build allocation. The build allocation will be used to ensure sustainable development and rapid innovation. This equates to about 15% of mined BELT.
The remainder of mined BELT (1 BELT/block) goes as LP rewards for our pools and vaults. We are also implementing cross-chain BELT mining, a feat made possible by Orbit Chain and its cross-chain masterchef. Essentially, a portion of the total BELT token emissions will be bridged over to HECO chain used for liquidity mining on HECO Belt.
There are some key points to understand about hBELT and cross-chain BELT mining:
BELT bridged over to HECO Chain is hBELT.
hBELT isn’t a separate BELT token, it is simply the same asset on a different chain. hBELT is emitted as BELT on BSC is locked via smart contract on BSC. This means that BELT tokenomics, including circulating supply inflation, remains the same.
The overall BELT token metrics (circulating supply, inflation rate, etc.) remain the same but the BELT token gains a new field of play with HECO. This adds a new avenue of yield and related buyback & burns with higher TVL.
Once governance is launched, BELT holders will control the Belt Finance protocol across different chains.
hBELT liquidity mining will be distributed in the same structure to the BSC equivalent assets (BELT, BTC, ETH, and stablecoins) on HECO. You can view this as incentivizing deposits of more liquidity of that same asset (e.g. BTC) to the Belt Finance protocol, except on a different chain.
With this same logic to mining distribution, BELT is essentially adding the value of HECO Chain to Belt Finance.
Liquidity mining will start on May 21st at 17:00 (GMT +8). The details of BELT mining on HECO are as follows:
25% of total BELT emissions will now be used as liquidity mining rewards on HECO Belt. Of the HECO Emissions:
wHT-hBELT: 48%
heco4Belt: 32%
BTC: 12%
ETH: 4%
HT: 4%
This changes the total BELT emissions mining distribution structure:
BNB-BELT PancakeSwap LP stakers: 0.5 BELT/block (50%)
venus pools stakers in Belt.fi: 0.5 BELT/block (50%)
Build Allocation : 0.178 BELT/block. The build allocation will be used to ensure sustainable development and rapid innovation. This equates to about 15% of mined BELT.
BNB-BELT LP (Belt Staking Pool): 0.5 BELT/block (50%)
4BELT LP (LP Staking Pool): 0.3 BELT/block (30%)
BTC (Belt Vault): 0.1 BELT/block (10%)
BNB (Belt Vault): 0.05 BELT/block (5%)
ETH (Belt Vault): 0.05 BELT/block (5%)
venus (LP Staking pool): 0 BELT/block (0%)
These were the changes from the previous rates:
