❓FAQs
General FAQs
What is BlueBit Finance?
BlueBit Finance is a yield aggregation protocol to be deployed on Near’s Aurora EVM. The protocol allows users to earn more yield from DeFi farming in a more secure, more accessible and more efficient manner.
Why Aurora?
Taking advantage of Aurora’s low cost and fast transaction, our first product BlueBit Vault V1 will enable users to deposit their LPs to earn auto-compounded yield at optimal intervals. Meantime, we will also introduce native token $BBT to better accommodate economic effectiveness and push the Dapp to a self-sustaining state.
What's special about BlueBit?
Economic incentive mechanism: We’re the first protocol primitively applies the curve-style voting escrow model, a proven successful DeFi tokenomics into our protocol. By locking utility token $BBT to get governance token veBBT, it will bring way more rewards to users such as platform fee rebate, farming boosting, and voting rights.
SAFU: we seek ultimate security for our SC and users’ funds. Our measures include thorough product test procedures, audits from trusted third parties, 24hr time lock for major contracts, whitelisted pools, and multisig for treasury funds
Earn more: Offering users 6 chances to earn with BlueBit with our unique product design
More accessible: Intuitive and easy-to-use UI/UX design
More comprehensive: Build a seamless farming suite with a complete set of farming tools to accommodate various farming demands. We will start with BlueBit Vault V1, then followed by single-asset vaults, lending, and leveraged farming…
Investors/Backers/Partners?
Big Brain Holdings, Vespertine, 0xCapital, M77 ventures, Aurora, HashEX, Trisolaris, SmartPad, NearPad, NearInsider
Vault V1 FAQs
What's BlueBit Vault V1?
BlueBit Vaults V1 is our first generation yield optimizer focused on providing LP token holders with auto-compounded yields at empirical optimal intervals
What is APR vs APY?
APR refers to the simple interest accrued from a particular investment over a 1 year period. APY refers to the compounded interest accrued from a particular investment over a 1 year period. To understand the magic of compounding, check below:
It is also important to notice this displayed APY is dynamic and can change (increase and decrease) through time mainly by two factors:
Price of the reward token farmed and compounded into the principal
Amount of people or value locked inside the pool (usually rewards are fix so more people or TVL implies that this reward is diluted)
How often does BlueBit vault V1 compound?
About every 4 hours.
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