UV Assets
Ultraviolet introduces new derivative assets with unique payoffs known as UV assets. Below we'll cover the initial UV assets including uvBERA and uvPREM.
uvBERA
uvBERA is a synthetic stablecoin soft pegged to BERA. uvBERA can be used in liquidity pools such as uvBERA metapool to earn yield through Berachain's POL as well as trading fees or can be staked to earn yield which comes from the underlying staked iBGT.
In due time, uvBERA will also be used across other DeFi applications, including functions such as a collateral asset.
uvPREM
uvPREM is a novel asset providing exposure to the premium between BGT and BERA. uvPREM offers users the ability to directly speculate on the premium between BERA and BGT and therefore offers a proxy vehicle to speculate on the incentive or bribes that flow through infrared's validator stack.
uvPREM will have enhanced exposure to infrared via the underlying Infrared points, of which the majority will be going towards uvPREM LPs.
Minting
uvBERA and uvPREM can be minted on Ultraviolet through the mint contract. Users must be deposit iBGT in order to mint 1 uvBERA and 1 uvPREM.
Redemptions
Similarly, 1 uvBERA and 1 uvPREM can be redeemed for 1 iBGT.
uvBGT
uvBGT is the latest addition to the suite of products from Ultraviolet. Following the acquistion of yBGT from the BearnSucks team, uvBGT can be minted by migrating yBGT into uvBGT 1:1 on the webapp.
uvBGT is backed by underlying BGT that is used to boost validators and earn yield which is then directed towards the uvBGT-swBERA LP pool that currently sits on Kodiak.
Redemptions
Underlying yBGT can be redeemed, with uvBGT, since that can't interact with contracts directly, the team will ensure redemptions are enabled to keep the price stable. A 10% redemption fee is applied.
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