What is Flor Garden?

Flor Garden utilizes bonding to bootstrap Protocol Owned Liquidity (POL) and secure yield-generating treasury assets. This helps transition Risk Free Value (RFV) into a future Baseline Value (BLV) on Baseline. The process involves two main phases: firstly, accumulating assets in the treasury and boosting total supply, and secondly, transferring POL to Baseline to set a BLV floor for FLOR while the treasury continues to generate revenue.

Flor Garden has an innovative Non-Fungible Position (NFP) management system that is capable of creating V3 LP bonds by capturing any type of asset. The initial treasury of Flor Garden will include assets such as YES, FLOR/YES LP-tokens, WETH, and USDB. This strategic asset allocation enables the treasury to establish a Risk Free Value (RFV) from the outset. Additionally, the treasury proactively participates in the Blast ecosystem, generating additional revenue and further increasing the RFV.

Flor Garden plans to elevate its operations by integrating its Protocol Owned Liquidity with Baseline to establish a Baseline Value (BLV) for FLOR. In this second phase, the project will end the emission of FLOR tokens through bonding/staking and transition the FLOR/YES LP to Baseline. This strategic shift will set a floor value for FLOR via the BLV. As the treasury continues to expand, more liquidity will be added into Baseline, which will in turn continuously increase the BLV for FLOR.

Disclaimer: Navigating the YES Incident

On March 28th, it came to light that there was a vulnerability in the accounting logic for YES in the credit facility for borrowing and lending. Upon discovery of the bug, the team was able to rescue funds and put a migration plan into place. Through the entire incident the Baseline Value (BLV) held up and worked continued to work fine. In the coming weeks YES will be migrated to YES V2. You can read the full incident and disclosure report here.

Flor Garden intends to continue the long-term plan of accumulating YES as a treasury asset, however this will impact initial launch plans. At launch Flor will only bond WETH and USDB and the primary FLOR liquidity will be paired with WETH instead of YES. At some point after YES V2 migration, Flor Garden will begin its YES accumulation and operations as discussed in the protocol documentation.

Treasury Backing and the Blast Ecosystem

Flor Garden's treasury consists of assets within the Blast ecosystem, primarily focusing on YES and FLOR/YES LP tokens. It also includes two native yield assets from Blast: WETH and USDB. Based on governance policy proposals, the treasury may expand to incorporate additional assets in the future.

The treasury's asset base will grow over time through bond sales, offering users the opportunity to purchase FLOR at a discounted rate, along with a specified planting period (refer to the Plant & Harvest section).

FLOR signifies the Risk-Free Value (RFV) of the treasury's assets. The protocol aims to utilize the treasury and various mechanisms to create positive feedback loops, enhancing the total Protocol Owned Liquidity (POL) and RFV through:

• Protocol leveraging native yield assets and yield farming strategies.

• Increasing treasury growth over time via vesting penalties and an unstaking penalty.

• The recycling of bonds and surplus minting from bond sales.

The strategy includes deploying assets into both yield and point farming strategies across the ecosystem (for further details, see the Treasury Management section).