The Warden (Governance)
The Booga Beras governance standard
Last updated
The Booga Beras governance standard
Last updated
For Booga Beras, we’ve developed a governance system that rewards loyalty and contribution. Governance is orchestrated via $BOOGA, our exclusive token, which can only be acquired by staking your NFT in the Warden contract. This token is permanently linked to your NFT, enhancing its governance power.
This system particularly benefits early minters who chose to stake their NFTs long-term rather than selling them quickly for profit. As a result, these loyal holders gain increased voting influence in governance decisions, ensuring that those who are most invested in the collection have the greatest say.
Additionally, the longer an NFT is staked in the Warden, the more $BOOGA it accumulates, making it visibly more “valuable” on NFT marketplaces. This amount of $BOOGA becomes a key trait of the NFT, signaling its power and influence to potential traders. For instance, a Booga Beras NFT that was minted and staked on day one will wield significantly more power than one minted on the same day but never staked.
Our governance system engages the entire community through proposal-driven feedback. For significant changes, we’ll host governance forums in our Discord to facilitate discussion. Once consensus is achieved, proposals can be advanced on-chain. BB holders can then review proposals on the Booga Beras dashboard and vote, with their voting power influenced by their number of BBs and the associated $BOOGA each holds. Since $BOOGA cannot be purchased on the market, active participation in governance is exclusive to BB NFT holders.
To further empower our community, 10% of our mint proceeds are reserved for the Booga Beras treasury, known as the HoneyPot. Initially managed by the BB team, this treasury comprises a diversified portfolio of Berachain protocol tokens, with the possibility of future reallocation through community governance. This ensures that the funds are fully controlled and utilized as desired by our holders.
The BB team is committed to respecting and implementing governance decisions, reinforcing our dedication to supporting both the collection and its underlying infrastructure.
Aside from giving BB's more relative value through time, we will leverage The Warden contract to create value by partnering with other collections.
We are offering our governance contract for other Berachain NFTs to implement and they can achieve a similar token and governance system as Booga Beras. In return, our holders will also be able to accumulate the partner collection's governance token, which means the more collections we manage to onboard to The Warden, the more rewards BB holders will get!
We currently have several collections that have committed to adopting the contract, and we will reveal their names and implementation details closer to Berachain mainnet.
