Bagels DAO Boardroom First Dividend Distribution on Sep 29,2021

Dear Bagelers,

Thank you very much for your support and waiting! We are pleased to announce that the DAO Boardroom will soon distribute its first dividend to all the veBAGEL holders!

Bagels will take the snapshot of veBAGEL at 8pm, September 29 UTC-4. Boardroom members will benefit from tax income of Bagels Finance leveraged yield farming pools and interest spread income from vault farming pools, in proportion to veBAGEL’s share holdings.

On Sep 29,2021, the first Boardroom dividend date, Bagels will distribute the income generated by Bagels Finance platform from 8pm, August 25 to 7:59pm, September 22 (UTC-4).

  1. Interest income is shown as follows:

- 50% of the total spread income generated between August 25 and September 22 will be distributed to the veBAGEL holders of the Boardroom and another 50% to the Bagels Finance R&D team. Spread income will be distributed to veBAGEL holders in the form of MDX, USDT, BUSD, BNB, BTC and ETH assets. Users can also deposit MDX, USDT, BUSD, BNB, BTC and ETH in the vault pools to obtain interest income and BAGEL reward for single-asset vault farming.

2. Tax income is shown as follows:

- The MDEX V1 Leverage Yield Farm Pool (August 25-September 8) is based on the economic model of Bagels White Paper that 50% of 20% of the total farming tax revenue is allocated to the DAO Boardroom. Therefore, the total revenue of MDEX V1 liquidity pool is 11,600.98 MDX, and 50% of the total tax income of MDEX V1 Leverage Yield Farm Pool is distributed to veBAGEL holders of the Boardroom, totaling 5,800.49 MDX; 50% of farming tax income is distributed to Bagels Finance development team, totaling 5,800.49 MDX.

- MDEX V2 Leverage Pool (September 8 to September 22) is based on the new economic model of BIP001 proposal that 85% of total farming tax income is distributed to the DAO Boardroom veBAGEL holders, totaling 73,981.569 MDX; 15% of total farming tax income is allocated to Bagels Finance Development team, totaling 13,055.571 MDX.

-Farming tax income is allocated to veBAGEL holders in the form of gMDX, which can be converted to MDX 1:1 by users in the [Lend] pool; Users can also deposit gMDX in vault for single-asset vault farming pools to earn interest income and BAGEL rewards.

There will be a second Boardroom dividend distribution on October 6 at 8pm UTC-4, with revenues from leveraged yield farming pools tax income and interest spread income from vault farming pools (revenue period: 8pm, September 22 -7: 59pm, October 6 UTC-4), including MDEX and PancakeSwap yield farming rewards — MDX and CAKE. Interest income includes CAKE, USDC, MDX, USDT, BUSD, BNB, BTC, and ETH assets.

Bagels DAO Boardroom dividends will be automatically distributed every Wednesday at 8pm (UTC-4) after October 6,2021.

In the 4th quarter of 2021, Bagels will implement more features, including multi-chain deployment of HECO and Polygon, innovative applications’ launch such as GTSwap and 3BAGEL Pool, and more farming strategies’ launch. The implementation of each new feature will increase Bagels DAO Boardroom’s dividends.

Stay tuned for more possibilities and development of Bagels!

Attachment:

Bagels Finance Revenue (8.25–9.22) Summary and Hash Addresses to View Link:

https://docs.google.com/spreadsheets/d/1ioyYYgOkle7o7CS_GZD_fZxhZFKE_LdVdRBze4YhMyA/edit?usp=sharing

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