Basilisk V2

Basilisk is already preparing to launch an exciting upgrade, Basilisk V2, which will introduce a new emission model designed to control inflation and prioritize price appreciation for the BSLK token. In this updated model, users will only be eligible to receive emissions once they lock a minimum of 5% of their supplied collateral (based on the USD value of their collateral) in BLSK tokens.

The lock-up period for BLSK tokens will range from a minimum of 1 month to a maximum of 12 months. Once a user locks the required BLSK tokens, they will start receiving emissions as well as a portion of the fees generated by the protocol. These rewards will be vested over a 3-month period.

Users will have the option to unlock their tokens early; however, this will incur a penalty ranging from 10% to 75% of their entitled rewards, depending on the remaining time left in the vesting period. This innovative approach in Basilisk V2 aims to strike a balance between incentivizing long-term commitment and providing flexibility for users while maintaining a healthy token ecosystem.