bGLP Receipt Token

How does bGLP work?

bGLP is the receipt token (LP) for the GLP leverage vault. bGLP is the cumulative value of the underlying GLP plus all the cumulative yields that are constantly reinvested into the vault.

On day one of vault launch, the value of 1 bGLP = 1 GLP. As the cumulative yields of GLP are reinvested and compounded into the vault, the value of bGLP is expected to be higher than GLP. To extract the yield, the vault user has to return the bGLP tokens into the vault and withdraw the earnings.

Deposited tokens will be used to mint GLP. Our vault then borrows USDC from the USDC vault within specific risk parameters, and uses targeted leverage ranges to expand the yield potential of GLP. Users gain access to amplified yield.

How do you calculate the bGLP and GLP ratio?

When users deposit GLP to Baklava Space, they will receive bGLP as the receipt token, and Baklava Space will help to auto compound their GLP.

When users withdraw their bGLP, they will receive the initial GLP + the yield from Baklava Space.

For example, a user deposits 1 GLP at Baklava Space and receive 1 bGLP. After 12 months, the user decides to withdraw, and 1 bGLP is equal to 1.2 GLP.

Earn Additional BAVA Rewards with bGLP

bGLP can be used to provide liquidity on the Baklava Space platform and throughout the Avalanche ecosystem.

Through our baklava farm, depositors will be able to further improve their yield.