FAQ
Figure it out yourself....
Why does this work?
The treasury earns yield and creates buy pressure for $APIARY.
This ensures that $APIARY frequently trades at a premium to backing, allowing the protocol to issue bonds and further grow the treasury.
In Phase 3 the protocol uses the iBGT earned via bonds to bribe the treasury reward vault.
By leveraging PoL, the protocol can earn a return on bribes:
1$ worth of newly created supply turns into more than 1$ worth of treasury growth
What if the flywheel breaks?
The protocol has automatic buybacks when trading below backing, which creates a natural floor. When $APIARY trades below treasury value, 100% of yield goes to buying and burning tokens, reducing supply until price recovers.
How is this different from OHM?
Key improvements over OHM's original design:
Dynamic bond pricing with debt ceilings prevents runaway dilution
Buffer zones prevent oscillation between protocol modes
Explicit fallback strategies for each phase
Berachain-native design leverages PoL for sustainable yield generation
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