2022-02-25

Is it "SOON" yet?

The team has been hard at work over the last few weeks in preparation for the launch of the XBE Hive with our mantra of ‘launching when we are ready’.

We are more than dedicated to ensure the protocol vision is realised, despite any challenge that may present itself, and have been busy this month deepening our foundations across the board!

With all that said, our readiness level is now "close to max" - and we can finally take out some time to share our progress and news.

New Hive Contracts Deployed

Last week Peckshield confirmed the fixes on the Hive contracts, and you can check the recently deployed contracts below.

  • Controller: 0xED6DcE58903dAbc1f54BC6A57F766159C1FD6c52
  • Registry: 0x8f127e1f94De10aa4A12d06ca079B0C6C9ff2d52
  • ReferralProgram: 0x0250E91099A085A3B669c7E453768E63d6231c93
  • FraxVault: 0x2f71BB915bdc84dE7a168d8Ef4b7a6496fDd5e76
  • FraxStrategy: 0x2A54D44492D050E78A30e5AcF0Ee5BAD817f89b2
  • CvxCrvVault: 0x0CE600B55975D666D649fC19c3AD6E2BaeCA8EBD
  • CvxCrvStrategy: 0x958477765Fa9b37E93ce9320af8Cd53dB5F1866c

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The team is currently engaging ImmuneFi about our bug bounty program and we hope to have that up and running the same week that the Hive goes live.

Working with ImmuneFi has great benefits for XBE that we are excited about, both from a security and marketing perspective, but we also still encourage tech savvy individuals to take part in the current bug bounty program.

Growing the DAO

The veXBE discord channel has helped nominate and appoint multiple DAO volunteers who are already making a difference for the protocol.

Special thanks to our hard working DAO coordinator (@OGcucpake) for contributing so much time and energy already - the results are impressive!

The initiative shown by our DAO community participants over the past few weeks is also greatly appreciated, and on that note we would like to congratulate @Flaffie79 for being appointed as the DAO Treasury Manager!

Please remember that the treasury is still controlled by the XBE DAO Multisigs and that no transfers can be made without a governance vote (XIP vote), quorum of 20% of veXBE, and at least ⅗ Multisigs signing this off.

The Treasury Manager will be in charge of drawing up operational and capital budgets, and managing the admin of treasury balances.

As proposals come out, the treasury manager will be working closely to allocate this correctly and ensuring that sufficient funds are reserved for the respective proposals.

Our Multisigs are also making amazing technical progress - with the operational functions being initiated and overseen by them for the last 2 weeks already.

They've also contributed some great tools to streamline routine contract calls and improving contract ownership security through multisig contracts, and should be ready to transfer live contract ownership to them as soon as next week!

XBF Development

We are pleased to announce that the XBF contract development have been finalised and is being handed over to Peckshield!

Once the audit and testing of XBF has been completed, we will be ready to launch on Solidly!

Solidly has currently caught a lot of attention with them capturing over 1.2 Billion dollars worth of TVL in under 2 days since launch.

We are really excited to take part in this major leap forward in the Fantom DeFi ecosystem.

XBE Hive

@OGcupcake is currently preparing an important proposal for community voting next week.

This will determine how much XBE emissions get allocated to the XBE Hive during the first week of launch in order to test the new contracts in a live environment with XBE, CRV and CVX rewards - and also test the functioning of the referral calculations across at least two vaults.

We will therefore initially launch with the FRAX and cvxCRV pool, adding the other completed Hive Vaults (StEth, IronBank, and EURT) and their respective XBE reward allocations over time.

We believe it is advisable that we allocate a smaller proportion of XBE emissions from the first week of launch until we have feedback from ImmuneFi - as their bug bounty will start at the same time as Hive Launch.

We are all very eager to attract and incentivize as much liquidity providers for Hive Vaults as quickly as possible.

However, in the BEE team's humble opinion, a lower reward allocation to the Hive Vaults over this time is likely the responsible thing to do.

The respective bug bounties and partnerships will bring more attention towards the protocol before we ramp up rewards and end up helping us reach a wider audience.

The final say rests with veXBE holders though, and we look forward to see how the community votes on this important decision!

The proposal will be announced on our socials as soon as it's ready, so keep a look out (we will make sure it gets a tweet too!).

It's been a long process so far, but we are looking forward to sharing many exciting times ahead with you all.

And remember to join the weekly veXBE hangouts on Discord for a peek "behind-the-scenes" and a say in what happens!