Genesis Bee NFT FAQ

Do Genesis Bee NFTs directly participate in governance ?

Not directly, governance on Honey Finance is "time weighted". Bees receive HONEY which needs to be vested. Your governance power in the DAO depends on how long you're willing to lock up your HONEY into veHONEY.

The answer is the same for potential revenue sharing or protocol rewards, it depends on how long you vest your HONEY rewards. The longer you vest, the more veHONEY you receive, thus the more of the rewards you will earn.

You can read more about time weighted governance here.

How much $HONEY do Genesis Bees earn ?

Originally, 75 million $HONEY tokens were allocated to the bees to be distributed over 2 years. Since HIP#3, this has been extended to ~ 112.5 million tokens over the course of 10 years.

If all NFTs are staked, maximum dilution would result in 10.27 $HONEY per day per NFT for the first 2 years, and would decrease by 50% every year thereafter.

You can read more about HIP#3 by on our forum.

What are these NFT airdrops ?

Honey is at the intersection of DeFi and NFTs, and our DAO aims to explore all of the interesting possibilities that lie in the financialisation of NFTs. This can be building yield generating NFTs, structured product NFTs, and much more. When community members offer an NFT experiment, it will be voted by NFT holders. If the strategy passes and is created, the creator will earn 10% of all the revenue it generated, incentivising the community's brightest minds to create value for the NFT holders.

Examples of NFT airdrops:

  • Wrapping veTOKENs into an NFT for liquid governance

  • Wrapping LP positions into an NFT for yield bearing assets

  • Access tokens for certain arbitrage opportunities or DeFi yield strategies

  • Early access to new protocol features, opportunities, or markets

  • Anything the community can come up with

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