What's going on inside the Hives?

How does Apiary actually work?

Each Hive has 3 key entities, The Queen, the Worker Bees and the Beras. We've previously covered who our users will be (The Queen and the Beras) but we haven't yet covered the final piece of the puzzle, the Worker Bees.

The Apiary Worker Bees are a set of boutique smart contracts designed to enact the will of the Queen of each Hive. These smart contracts are:

1. HiveToken

Hive Tokens are the liquid layer of the Apiary Ecosystem. Whenever a Bera deposits oBERO into a Hive they will receive the respective Hive's HiveToken. These tokens can either be staked to receive the Hive's reward token or traded.

The oBERO deposited inside each Hive is burnt for permanent Beradrome Governance power. The Queen then sets her worker bees to work, directing this governance power towards the gauge (or gauges) of their choice.

The worker bees return from their work with the voting rewards earned from each gauge. These rewards accrue together in a basket which then needs to be swapped into the Hive's selected reward token. This is quite a complex task, but this is where the HiveFeeFlow contract takes over.

1. HiveFeeFlow

Whilst this conversion would normally be quite a complex task onchain (with potentially many tokens to exchange into one reward token), by leveraging Euler Finance's innovations Hives are able to enact these swaps at a more efficient rate than previously possible.

Through Euler's model all voting rewards are auctioned off in one basket, with the HiveFeeFlow buzzing into action and bringing the basket together to be sold off in the Auction House.

1. HiveRewarder

The rewards token is then distributed back to stakers of the individual Hive's token through the HiveRewarder Contract.