What’s BRRRing on Burrow?
Burrow Q2-Q3 Roadmap
Since launching about a month ago, Burrow has seen exponential growth and established itself as one of the core DeFi legos on NEAR. Here is a look into what’s brewing (or rather, BRRRing) on Burrow in the upcoming months.
- Burrow started off mainnet with a bang through the introduction of the Mr. BRRR NFTs— an NFT voucher created by the Mr. Brown project representing 100 future $BRRR tokens. All 140 editions sold out, with the floor price jumping from 5 $NEAR to 26.5 $NEAR today. The redeem period will begin once $BRRR pre-mining period ends.
- Mainnet launched on March 28th, with $BRRR rewards distribution starting on the 30th.
- Burrow has successfully completed two audits by BlockSec prior to mainnet launch
- Now you can choose between the NEAR web wallet or Sender wallet when you connect to Burrow.
☐ UI Bug Bash & Restyling
☐ Multi-token Rewards
- Earn more than just $BRRR as rewards for supplying and borrowing on Burrow. Multi-token rewards coming soon.
☐ $USN Integration
- After weeks of speculation, NEAR’s native semi-algorithmic stablecoin, $USN, launched on the 25th. What is relevant to Burrow is that the $USN launch post writes,
meaning that Burrow will become one of the protocols to $USN as Anchor is to Terra’s $UST. Even more significantly, it will be the only protocol on NEAR native to do so for the time being. Once the Burrow DAO aproves of the new listing, Burrow will announce the integration of $USN and the redistribution of $USN yield through our farms; as the $USN blogpost writes,
The first lenders will likely receive over 20% APY through additional incentive mechanics.
Lenders of the world, $BRRR.
☐ Burrow DAO votes on unlocking $BRRR (i.e. premining period ends)
- Burrow has plans to distribute 6% of its total $BRRR supply as rewards in the first months. Currently, $BRRR is in its pre-mining period, meaning $BRRR rewards are live for those who use Burrow, but they are not transferable yet. The Burrow DAO will vote to unlock $BRRR soon, making $BRRR tradeable on open markets.
☐ xBRRR Staking & Boosted Rewards
- Once $BRRR tokens are unlocked and tradeable, the xBRRR staking program will kick in. In the tokenomics article, we outlined xBRRR staking as such:
[S]take $BRRR tokens for a period of 1–12 months. Stakers will receive more xBRRR the longer they stake, which will enable them to merit higher APRs.
Additionally, xBRRR holders will receive boosted rewards for supplying and borrowing. These boosts are significant, and will enable users to earn more than 2–4x the rewards they would earn without holding xBRRR.
☐ Mr. BRRR NFT Voucher redeeming starts
☐ New asset listings
- Coming soon: $Aurora, $Ref…and more?
☐ One-click to Fold
- Folding, or looping, is a degen strategy where you deposit x, borrow y, deposit that y back in, borrow more, deposit again…and so on. On Burrow, you can fold up to 4–5x with minimal risk, given that loans are overcollateralized. Currently, you have to go through multiple steps manually to fold on Burrow. Soon, you will be able to deposit and borrow ∞ with one click. Aping has never been easier.
☐ Metamask Support
- Soon Metamask users will be able to directly connect to Burrow without creating a new NEAR wallet. Get ready to burrow straight from Ethereum to NEAR✅
☐ Repay directly from deposits
- Soon users will be able to repay their loans directly from deposits, without having to withdraw their funds first.
☐ UI Dark Mode
- “wen dark mode,” they asked. Soon to be delivered!
Stay tuned! It’s only getting hotter and hotter in these chambers.