Mechanics

Intro

YEET v2 is a Berachain PoL bribe machine what takes the BERA that users yeet and award BGT. It does so by adding and removing players from the BGT reward vault.

Phases

The game goes true two kind of phases, the Auction phase and the Rewards phase, which alternate in perpetuity.

Auction phase

The auction phase is when the game auctions off the upcoming reward slot. It does this via a Dutch Auction where it start with a high price, and reduces until someone yeets and buys the slot. As soon as the slot is is bought by a player, the player starts to earn BGT, and the rewards phase begins.

A slot is a 5 minute period in which a player receives BGT that is flowing to the dedicated Yeet BGT Auction Reward Vault.

• After a slot period has elapsed, a new Dutch Auction begins, howver the current slot owner keeps earning BGT until the next auction ends. Their rewards do not stop as the next auction begins, their rewards end as the next auction finalizes

• The auction is settled in BERA, and the first address to successfully bid ends the auction and triggers the next slot beginning

• The auction starting price and other auction parameters are set and monitored by a Yeetarded AI system

  • Further info about the model will be added to the documentation

A Dutch Auction is used as this avoids gas wars at the chain level, and maximizes value capture for the app and users

Rewards phase

The rewards phase is the protected slot of 5 minutes in which the previous auction winner earns BGT. During this period, no auction is active and no one else can dethrone the current slow owner.

When the period has elapsed, a new auction begins which will allow a new player to become the leader if they win the auction. The same player can remain the leader if they win the auction.

Specialized Reward Vault

A special Berachain Reward Vault will be used to accrue BGT to users, without users having to stake or unstake anything.

• A contracts mints and burns an ERC-20 token when a slot leader changes, and uses the delegateStake function in order to make the current slot leader the recipient of the BGT

• The recipient of the BGT flow is 1 address - the current slot leader - however this can be configured to be up to the previous 100 slot leaders with different weights

• When a slot leader is removed, their ERC-20 tokens in the reward vault are unstaked and burned, and new tokens are minted on behalf of the new leader and staked for them

Prize Pool

• A portion of each Yeet is added to the Prize Pool

• This grows until one address meets the win condition

• This condition is: an address being the slot leader for 24 hours consecutively

  • This is configurable

Fee Splits

80% to the Reward Vault to be used for bribes

5% Prize Pool

7.5% Protocol Revenue

7.5% YEET buybacks via the Yeetarded Buyback Vault

Yeetarded Buyback Vault

7.5% of volume in the BGT Auction is used to mint wgBERA and is directed to a dedicated Reward Vault and used as bribes. These bribes are matched by Smilee Finance up to 1500 wgBERA per week.

BGT earned is minted as the highets yielding LST, before being used to buyback and burn YEET.