Bingo Shares loosely represent the value of the Bingo Cash Finance and trust in its systemic ability to maintain BGO to peg. During epoch expansions (when TWAP - time-weighted average price of BGO is above the 1 $BUSD peg), the protocol mints BGO and distributes it proportionally to all sBGO holders who have staked their tokens in the boardroom.
Additionally, sBGO are used to achieved a completely decentralized on-chain governance where sBGO holders have voting rights and the ability to create proposals to improve the protocol.
sBGO has a maximum total supply of 35,000 tokens.
For the first two weeks, 75% of your sBGO reward will be locked away for 50 days. 25% will be tradable immediately. After the first 50 days, sBGO locked will be slowly released at the rate of 7,5% per day.
sBGO farming pools have their emission rate reduce down to 75% each month. (25% reduction compared to last month)
5% of sBGO total supply will be send toward a DAO Reserve.
Once you have some sBGO, you can now start staking in the Boardroom to earn inflationary reward during expansion phase.
Expansion phase is the time during the price of BGO > 1.01$ when the total supply of BGO will increase by 4% and newly minted BGO are allocate partially to the Boardroom so staker can enjoy them.