Wasabi on Bera

Wasabi launched on Berachain because its proof of liquidity consensus aligns perfectly with Wasabi’s mission: keeping value on-chain and rewarding holders. The culture and ecosystem BERA fosters are powerful; the timing and fit were just right.
Our goal in launching on BERA (and any chain) is to bring value back to the native ecosystem and allow users to benefit from trading volume that would otherwise be captured by synthetic exchanges.

Depositing into Spicy WBERA Vault earns you real yield, powered by traders who borrow assets to run delta-neutral strategies or take directional trades. Depositors earn variable interest on these loans, regardless of whether the trader wins or loses. If a trader’s position fails, they are liquidated, and Wasabi’s overcollateralization ensures that you are always repaid what you are owed.
Wasabi’s Berachain vaults with PoL incentives provide a boosted yield to stakers. Instead of passing the yield directly to depositors, vaults such as sWBERA bribe validators to boost the yield with BGT/iBGT emissions.
To stake, simply deposit assets into vaults. Once deposited, you will receive the vault shares (spicy tokens) that represent your ownership of the deposits and autocompounding yield in the vault.

PoL enabled vaults (such as Spicy WBERA) don’t earn APY denominated in the deposit token. Instead of accumulating the base yield into the vault, Wasabi directs it toward bribes. This increases the effective return for stakers through external incentive mechanisms, rather than relying on silent compounding within the vault. Currently, the eligible vaults for boosted rewards are the Spicy WBERA and Spicy HONEY vaults.

Berachain has Proof-of-Liquidity, this allows the yield generated through Wasabi to be used for bribes and BGT/iBGT emissions.

All your sWBERA is fully yours and withdrawable. Withdrawals are split into two parts because of the 10% fee applied to yield (not principal). While Wasabi takes a portion of the yield, 100% of the APY shown belongs to you. The split is simply a reflection of how the fee is accounted for, not a restriction on your funds.

Wasabi takes a 10% fee on BERA yield, not on deposits. This means the APY shown is entirely yours. The fee only applies to the earnings generated by your stake, keeping incentives aligned with performance.

Traders borrow assets to run delta-neutral strategies or take directional trades. Unlike perps or lending protocols, Wasabi doesn’t take the other side or rely on emissions. Every position is overcollateralized, and the vaults are fully transparent with no lockups or deposit fees. Additionally, token teams may choose to boost the Annual Percentage Yield (APY) of specific vaults by offering additional tokens as incentives.

Yes, there are no set lockup periods for deposits and withdrawals. The one exception to this is in the rare case of 100% utilization of a vault.

Utilization refers to how much of the vault’s capital is currently being used in open loans by traders. The higher the utilization rate, the more APY you earn. If utilization reaches 100%, you may need to wait to fully withdraw your funds. That said, Wasabi is actively working to keep utilization below 100% and are developing additional mechanics to ensure smooth withdrawals during periods of high demand.

Last updated 4 days ago