Reward-Earning Tokens
Last updated
Last updated
Brrito's reward-earning tokens, brrETH and brrUSD, are versions/derivatives of ETH and USDC that automatically earn rewards for depositors.
TIP: From a user's perspective, brrETH functions virtually the same as .
Depositors will always be able to redeem their deposits and any rewards accrued, excluding gas and Compound or Moonwell fees. Brrito does not charge any fees.
An example scenario to better illustrate Brrito's "reward-earning tokens":
Alice has 1 ETH which is sitting idle in her wallet.
She discovers Brrito and wants to earn more ETH.
Alice deposits 1 ETH into Brrito and receives *1 brrETH.
Alice can withdraw at any time, but decides to wait 1 year.
1 year passes and Alice redeems her 1 brrETH and receives **1.04 ETH back!
*It's important to note that the ETH:brrETH ratio is not 1:1 (rewards accrue every block, which increases the amount of ETH backing brrETH). For example, Alice deposits 1 ETH and may only receive 0.95 brrETH back, BUT that 0.95 brrETH can still be redeemed for 1 ETH.
**The 1.04 ETH figure was only for illustrative purposes. brrETH's rewards vary between 3-5% APR, and the final reward amount is impossible to know ahead of time.
brrETH, brrUSD, and brrUSDv2 are all built on , and brrETHv2 is built on . Both protocols are built by renowned teams, and are battle-tested and audited by security firms.
The core contract set for brrETH, brrUSD, and brrUSDv2 have been audited by and , security research firms which have performed audits for the likes of Ethena, Radiant Finance, Manifold Finance, and others.
brrETHv2 is based on brrETH, with minor changes to accommodate Moonwell's contracts and assets. We are currently seeking an auditor and will update this page as soon as we have more information.
Verified contract deployments: .
Security audits
brrETH, brrUSD, and brrUSDv2
Pashov Audit Group: .
KebabSec: .
brrETHv2
Pending.