Introducing bBETA: Tokenomics, Mining & Providing Liquidity

This post was originally published on Big Data Protocol

Say hello to the bBETA datatoken — the newest addition to Big Data Protocol’s Data Room.

bBETA builds on the bALPHA collection of datasets with offerings from our industry partner ClosingBell plus high-volume crypto Twitter sentiment analysis for exchange-based tokens & NFTs. These datasets in the bBETA collection advance BDP’s mission to bring liquidity to commercially valuable data using DeFi and build a Web3 data market.

The bBETA token will be launched on Friday, May 28th.

bBETA Tokenomics

Distribution of bBETA Tokens

Allocation of bBETA tokens will be similar to bALPHA’s, with two important differences. A total supply of 20,000 tokens will be created, of which 10% of the token supply will be airdropped to holders of BDP & bALPHA (details below), and 10% will be reserved as payments for data providers. 80% of the total supply of bBETA tokens will be distributed via liquidity mining over 6 months.

Vesting Mechanism

Data provider tokens are locked for 2 weeks, then released 20% every month

Airdrops (2,000 tokens)

Rewarding the BDP community for their loyalty was top of mind when designing the 2-stage airdrop. Concurrent with token launch on May 28, we will deploy the first “fairdrop”. Based on a May 9 snapshot, holders & stakers of BDP or bALPHA tokens will be able to claim an equal share of 1,000 bBETA tokens: ~0.129 bBETA.

biswap

For the 2nd “proportional” airdrop, we will take a snapshot at a random time in the 48 hour period of the weekend of Saturday, Jun 4 — Sunday, Jun 5 (midnight to midnight, US EST). Holders & stakers of BDP or bALPHA will be rewarded with an amount of bBETA that’s proportional to their total holding.

All the details in this Medium article.

Farming bBETA (18,000 tokens)

Liquidity pools

  1. Stake BDP/ETH LP = earn 6400 bBETA (32% of supply)
  2. Stake bALPHA/ETH LP = earn 3200 bBETA (16% of supply)
  3. Stake bBETA/ETH LP = earn 6400 bBETA (32% of supply)

Farming Schedule

                                       bBETA cumulative emissions-over-time chart

How to farm bBETA

  1. Withdraw LP tokens from bAlpha farming pool
  2. Approve LP in bBeta contract
  3. Stake LP in bBeta contract

Introducing bBETA: Tokenomics, Mining & Providing Liquidity was originally published in Big Data Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story.

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