The Caveau

Lock or burn!

Bonjour! Caveau is a word (oof, french alert!) that has two meanings, and both are completely absurd when you put them together:

On one side, it is a tomb, the place where the most precious things in the world are buried. Sometimes it is your loved ones, sometimes it is your money. On the other side, it is a vault, the kind you find in banks and casinos, built to protect whatever is too valuable to leave in the open.

Ridiculous, right? Yet the Caveau is exactly both at the same time. And the new mechanic we will introduce during TGE reflects this strange duality perfectly: a vault that soonly will become a tomb.A burning one.

The Caveau is a new and unprecedented feature designed for everyone who will be eligible for a portion of the $SMILEE airdrop.

It gives users the opportunity to unlock additional $SMILEE up to 100% their assigned airdrop! In other words, it lets you potentially double your $SMILEE allocation, based on the amount of BERA you're willing to lock in the Caveau (aka Smilee) for the next 4 months.

The Caveau allocates 15.75% of the total $SMILEE supply to airdrop recipients. When the Caveau opens, every eligible wallet will be able to see its own allocation directly inside the dedicated "Caveau" section of the upcoming token dashboard.

Participants can lock the full required amount of BERA or only a portion of it, meaning that locking a smaller amount unlocks a proportional share of the extra $SMILEE.

This process can be repeated multiple times during the week in which the Caveau will be active, and there are no entry or withdrawal fees, allowing users to take part gradually if they prefer. Last but not least, the BERA:SMILEE lock ratio will be 4,20 BERA per 1 $SMILEE.

If a user decides to skip the Caveau, the $SMILEE reserved for them will be burned once the participation window closes: meaning, one week right after the Token Generation Event (TGE).

Note: the Team and the Foundation cannot join the Caveau. They follow their own vesting schedules.

As mentioned above, if you received any $SMILEE from Smilee Finance, you may be able to unlock an extra amount by locking BERA for four (4) months inside Smilee.

As soon as you lock BERA, the extra $SMILEE becomes available immediately, with no cliff and no vesting.

The locked BERA generates wgBERA, which becomes withdrawable only after the four month period ends: users can decide to keep them to provide liquidity into wgBERA pools or redeem them back to BERA. During the lock, the deposited BERA is directed to the gFund, aka the Smilee Finance’s liquid fund that deploys BERA in major pools to sustain the continuous incentives and the operational costs.

A larger gFund strengthens the entire incentive flywheel that supports wgBERA and the future $SMILEE liquidity pools, as up to 80% of the overall APR of the Fund is channeled into BGT incentives for liquidity providers.

The Caveau is a unique moment within the $SMILEE launch, as it allows believers to double down their participation within the Smilee Finance ecosystem (plus locking some BERA for creating a stronger incentive flow all around the liquidity pools), while at the same time creates a huge burn pressure on the overall supply like very few mechanics did in the past.It's time to believe-e.