iBGT Locking and GiBGT

Lenders can contribute to Goldilend's lending pool by locking iBGT on the platform. All locks are permanent and cannot be withdrawn. Lockers receive GiBGT (ERC20) tokens representing their ownership of a portion of the Goldilend lending pool. These tokens have various utilities. Specifically,

1) A portion (initially set to 95%) of interest payments made through the platform are compounded back into the lending pool, thereby increasing the amount of iBGT backing each GiBGT token, and also increasing the size of the lending pool and the liquidity of the market.

2) Passive liquidity in the lending pool that is not being actively borrowed will be staked via Infrared, and all staking rewards other than iRED tokens will be streamed to GiBGT stakers. The iRED rewards will be locked, and all (non-iRED) rewards from locking will also be streamed to GiBGT stakers, while the voting power of the locked iRED will be delegated to Goldilocks DAO. This ensures that the staking yield of GiBGT should generally be at least as great as that of iBGT.

3) GiBGT/iBGT liquidity will be incentivized via partner platforms to allow lenders to easily trade in and out of their GiBGT positions.

4) Goldilocks DAO may decide to partner with lending platforms to make it possible to use GiBGT as collateral, thereby allowing lenders to remain liquid and continue to enjoy the autocompounding increase in GiBGT valuations without exiting their position.

5) GiBGT stakers will also be incentivised with generous PORRIDGE emissions for the first six months after the launch of the platform.