The 2nd LM will run for ~3 months starting September 18th.
Starting block number - 13251289
Ending block number - 13842589
Per the DAO vote on BIP#4 , the new LM is using UMA's KPI Option program to align the incentives of the different actors in B.Protocol.
90k BPRO tokens were deposited from the DAO reserve into an UMA's KPI Option contract to mint 30k uBPRO-BIP4 (ERC-20 tokens).
The uBPRO-BIP4 tokens will be accumulated each block during the LM period by B.Protocol users according to their usage of the protocol, e.g., how much they deposit and borrow through the different integrated protocols.
For v1 users (MakerDAO and Compound) - the distribution will be 80/20 according to Borrowed/Deposited funds.
For v2 users (Liquity) - the distribution will be in full for Deposits of LUSD.
If B.Protocol's TVL reaches or surpasses $150m at the end of the LM period (KPI achieved), then each uBPRO-BIP4 option token will be redeemable for 3 BPRO tokens. Otherwise, if the TVL < $150m then each uBPRO-BIP4 will be redeemable for 1 BPRO token and the remaining 60k BPRO will be returned to the DAO Reservoir account.
Redeeming the option in return to BPRO token will be possible once the LM period is over via the UMA interface.
Here is a distribution breakdown example according to the current deposits and borrowed funds in B.Protocol:
Total Weight (m)
If TVL < $150m
If TVL > $150m
At current weights, if user A has a $0.3m deposit in Maker with $0.1m debt, and $0.7m deposit in Compound with $0.2m debt, and a $1m LUSD deposit in Liquity - she would get uBPRO-BIP4 according to this calculation: