Buyback Programs Initiated! — Bunny Pots, Bunny Distribution, and Cross Chain fees!
Hello Bunny Fam! 🐰🐰🐰
In the past few weeks, as we have marched through the initiatives in our Go Forward Plan, we have seen awesome comments in our official Telegram, Discord, and social channels. Team Bunny appreciates the community’s enthusiasm for the project and we can tell that you’re all rooting for us. Token buybacks and burns are top of mind for many in the community, and we are excited to be able to announce the launch of the PancakeBunny Buyback Program!
Team Bunny takes creating buying pressure in the market very seriously, and we are in the process of devising more innovative ways to buy back BUNNY. We are launching our buyback efforts with the following three components: 1) Bunny Pot Contribution, 2) Bunny Distribution Contribution and 3) the Bunny Multiplexer Fees Contribution.
1. The Bunny Pot Contribution
Bunny Fam, your support of and participation in Bunny Pots is amazing — in just two days, the projected prize pool is already $41,818.26! Currently, 10% of Bunny Pot prize pools go to buyback BUNNY — and as participation increases and as we add more Bunny Pots (BUNNY Bunny Pots coming soon!), the contribution from Bunny Pots will exert a significant buy pressure in the market, stabilizing the price of BUNNY and decreasing the amount of BUNNY in circulation.
2. The Bunny Distribution Contribution
Subsequent to the attack, Team Bunny has monitored fluctuations in the prices of BUNNY and BNB very closely. Based on our ongoing analysis, we are optimizing the composition of the Bunny Distribution in order to exert a steady stabilizing pressure on the price of BUNNY. Once the BUNNY price and market cap have recovered sufficiently, we will recalibrate the implementation of the Bunny Distribution to optimize other aspects of our interaction with the DeFi ecosystem.
3. The Bunny Multiplexer Contribution — Cross Chain Fees Buyback BUNNY!
Team Bunny is excited to finally announce the launch of our cross chain, double farming Multiplexer pools!
Because our Multiplexer pools will offer up to ~5× native Ethereum returns, PancakeBunny Multiplexer pools will be very attractive to Ethereum users. And, once the TVL of our Multiplexer pools reach $500M, they will fund buybacks at a rate of approximately $35mm in BUNNY per year, which is equivalent to ~15% of the total market cap of BUNNY at today’s prices.
We will launch the Bunny Multiplexer next week in a Rolling Beta. See below for more details, and please stay tuned as we announce new partnerships as the launch comes near!
3.1. The Bunny Multiplexer Explained
The Bunny Multiplexer uses our unique asset mirroring approach (Cross Chain Collateralization) to “double farm” Ethereum tokens on BSC, all without having to bridge or convert any assets out of the Ethereum blockchain.
So the Multiplexer enables you to 1) keep Ethereum assets in Ethereum, 2) earn your regular yield on Uniswap, 3) stack additional returns generated by mirrored assets on BSC, all while 4) keeping your original assets in their native form on Ethereum — no conversion or bridging required!
Our first Multiplexer Pool enables you to double farm your Uniswap LPs. to let you invest in Ethereum tokens “natively” on the Ethereum chain and then “double farm” your stake on the Binance Smart Chain using asset mirroring.
We will be using a Rolling Beta process to successively increase the number of wallets whitelisted to participate. (See below for further details). For our Rolling Beta, our Bunny Multiplexer 0.1 will tentatively allow users to double farm USDC-ETH, USDT-ETH, and DAI-ETH UniLP tokens. As we expand our implementation and move to Bunny Multiplexer 1.0 we will also add single asset staking for stable coins as well as additional Ethereum asset pairs.
3.2. Double Farming = Stacking Yield!
Here’s an example of how the Multiplexer pool will work for an ETH investor:
Mr. B, has been investing in Uniswap on the Ethereum blockchain. Typically, he earns ~20% APR on from staking his Uniswap LP tokens.
Mr. B visits our new double farming Multiplexer Pools. These new pools use cross chain collateralization (CCC) to deposit an LP token on Ethereum and stake 100% of that amount on Uniswap and another 100% of that amount in a BSC project such as PancakeBunny.
He makes a deposit and stakes, which allows him to:
- Earn his ~20% APR on natively on Uniswap
- Stack an additional BSC farming profit of ~ 35% APR (42% APY)
- Stack ~ 35% APR in additional accrued transaction fees on BSC
So Mr. B can earn an additional 70% on top of the 20% APR he earns at Uniswap.
About the Rolling Beta
The Bunny Multiplexer Rolling Beta will launch in stages, with larger and larger groups of users invited to participate. Please keep an eye out for participation codes or similar, as we will be distributing them periodically to onboard the next cohort of beta participants.
Thank you, Bunny Fam. The Community has been through a lot in the past week! Team Bunny is grateful for your trust and support through all of the challenges that have come our way. We appreciate the time you gave us to propose, deliver, and execute on our Go Forward Plan, and we thank you for your patience as we continue to devise innovative and effective strategies to buy back and burn. And as always, Bunny Fam — Keep Calm and HOP ON!