Babylon Finance Partnership - Priority Access to Prophets Event (NFT + IDO)

Coauthor: @0x_chu

Abstract

Establish a partnership with Babylon finance starting with priority access to their NFT IDO event.

Summary

Babylon.finance is doing an NFT drop of 10,000 prophets that doubles as an IDO for their governance token, BABL.

The event is called The Arrival and it is scheduled for Nov 15th- Nov 19th.

Each :crystal_ball:Prophet NFT will grant different benefits:

  • Access to the private beta during the highest period of mining rewards

  • BABL tokens. Each NFT will give its owner the right to claim BABL tokens. Great opportunity to acquire the governance token before it is available on exchanges.(Note: Only people outside the US can claim BABL).

  • BABL bonuses. Additional BABL rewards for depositing, voting, creating strategies, and managing gardens are given to the prophet NFT holders.

  • PFP. The NFT can be used as a Babylon ID card.

There are 8,000 common prophets that can be minted by prior registration.

An additional 1,000 Great Prophets will be on auction.

1,000 legendary prophets are reserved for the future.

You can read all the information about the event here or see the twitter thread.

How can you participate?

If you are an xSUSHI holder, you can fill up the form here Babylon.finance.

Our friends at Babylon.finance will verify that the wallet indeed holds xSUSHI.

Addresses will be sorted out by xSUSHI Balance and given priority access vs general entries.

Everyone will also be able to participate in the auction of the 1,000 great prophets from Nov 15th to Nov 19th.

The Auction will start on Nov 15th at 8am PST.

The event code will be open-sourced and available on Nov 12th.

What’s Babylon Finance?

Babylon is a community-led asset management protocol that enables users to create investment clubs or pools (we call them gardens :palm_tree:) and invest in DeFi together.

It’s built on the Ethereum network and it’s non-custodial, transparent, permission-less, and governed by the community. BABL is the governance token behind it.

Babylon is still in private beta, but in the last 6 weeks, the project has grown from $1M to $12M in TVL.

What is a Babylon Garden?

You can read more information in their Litepaper here.

Future Partnership Opportunities

Sushi family can offer immediate benefits to Babylon.

  • BABL / ETH pool. Be the exclusive pool for the first weeks. Ideally incentivized with SUSHI.
  • BABL Lending/Borrowing via Kashi.

On the Babylon side, they integrate with DeFi protocols like Yearn, Curve, Uniswap, Compound, or Aave to offer DeFi operations as a primitive.

In Babylon, groups of investors can create a garden and start DeFi strategies that generate wealth. It’s code-less, UI based. You can check a video of how this works here.

Babylon and Sushi can work together and offer different sushi operations through gardens like:

  • Adding Liquidity to a Sushi pool + staking the LP tokens.
  • Swapping a token on Sushi AMM. Support the new Trident release. It will allow Babylon strategies to swap assets with higher capital efficiency via:
    • Classic Pools
    • Concentrated Liquidity Pools
    • Index Pools
    • Stable Pools
  • Lending/Borrowing via Kashi

This could open a wave of innovation and deliver Sushi products to a new audience.

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Poll

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2 Likes

@rrecuero thanks for sharing, this seems unique and interesting.

“The Arrival” is very fitting per the thematics. I wonder if there is opportunity to partner with Shoyu and list the NFTs there on a secondary market. Does the NFT have artistic appeal?

If so, this could be an interesting way to incentivize market dynamics and allow users the choice to hold a NFT over the IDO if they believe it is more valuable. If not, they can exercise their NFT for $BABL.

I enjoyed your choice of xSUSHI for whitelisting users. We (as Sushi community members) must see more projects encouraging ownership and use of the governance token.

Are you currently partnered with any other DeFi protocols? This could be an interesting opportunity to cement SushiSwap as a primary partner and offer an integrated UI and lower fees.

For a general question - What is the average size of a garden (investment club) on Bablyon?

Would love to get Beta Access to play around and learn more.

We are excited by Babylon building alongside Sushi and the possibilities of cross-protocol coordination.

1 Like

Thank you for your support :slight_smile: Answers below :facepunch:

Are you currently partnered with any other DeFi protocols?
Harvest :tractor: invested in our seed round.

What is the average size of a garden (investment club) on Bablyon?
We are still in private Beta. The total TVL is slightly under $14M at the moment.

The biggest gardens are around $3M, then there is a long tail after that.

1 Like

The site looks very well and profesionally made, but in the past hour resaerching the project i couldnt find a single review, analysis or even mentions on twitter by reputable people, including the ones that are mentioned as investors on the site.

Even in harvest i cant find about the investment.

DegenScore Community

Harvest Announcement

Thanks but if I remember correctly harvest invested only $15k which doesn’t look too serious.
Is there a review of the project by someone known in the community? That would help a lot.

Otherwise your site and the launch is extremely well made but without vetting from someone reputable it will be hard/slow to get traction.

Also its a little odd that the 3 twitter persons that are listed as backers dont have a single mention of the project in the last few months on their timelines.

But if they have invested similar amounts as harvest I guess that woudnt help much either.

There are tweets from all of our investors in their timeline.