Get to Know Berachain and Its Ecosystem
This article provides a brief overview of Berachain and its ecosystem. The information is sourced from @2lambro’s tweet and compiled, translated, and written by TechFlows.
Table of Contents:
1. Background of Bera
2. What is Berachain?
3. Berachain NFTs and Airdrop Opportunities
4. Berachain Ecosystem Projects
Introduction:
With the rise of the Cosmos ecosystem, Berachain has also gained attention. Recently, the co-founders of Berachain hinted at significant events to come. This article aims to provide a brief understanding of Berachain and its ecosystem.
Background of Bera:
What is Berachain?
Berachain is a meme smoking bear (meme smoking bear) NFT project that originated from the viral spread on OlympusDAO’s Discord. It raised $42 million for the Cosmo SDK’s EVM-compatible chain, Berachain, which incorporates the concept of “proof of liquidity.”
Berachain NFTs and Airdrop Opportunities:
Dev Bear and Smokey The Bera, two investors of OHM, launched an NFT series that attracted many OlympusDAO’s OGs and investors. This is important to note because their culture supports Ponzi schemes financially.
These NFTs will evolve into more NFT series, although the mechanism behind it is not well understood. Currently, there are a total of 6 series of NFTs, summarized as follows:
– Bong bears with a floor price of 134E
– Bond bears with a floor price of 37E
– Boo bears with a floor price of 12.3E
– Baby bears with a floor price of 6.5E
– Band bears with a floor price of 3.9E
– Bit bears with a floor price of 2.9E
Bear NFT prices skyrocketed (remember, this happened during a bear market). On April 20th, they announced raising $42 million from top institutions and investors.
Berachain Ecosystem Projects:
Berachain is an EVM-compatible L1 built using the Cosmos SDK. It features a virtual machine called Polaris VM and a proof of liquidity consensus mechanism. The main concept is to incentivize users to deposit mainstream tokens like BTC and ETH to provide liquidity to the chain. These assets are paired with Honey (Bera stablecoin) and deposited into LP to earn trading fees and release $Bera.
Essentially, the goal is to retain blue-chip assets within their ecosystem in hopes of:
– Providing sufficient liquidity
– Promoting trading activities
– Increasing TVL (Total Value Locked)
– Increasing data indicators
The ultimate goal is to achieve a positive flywheel effect.
Going into more details, the ecosystem primarily consists of three tokens:
– $Bera: Gas token
– $Honey: Overcollateralized stablecoin
– BGT: Governance token, non-transferable gas token obtained from $Bera staking
The logic of user staking is as follows:
– Deposit BTC and ETH or future voting assets into the treasury and earn protocol fees and released Bera.
– Stake Bera in the treasury to obtain BGT.
– Fees are paid to BGT stakers.
There is also a positive flywheel effect, such as more TVL, more trading volume, more fees, higher BGT yield, and more Bera stakers, ultimately leading to a circular effect.
I know this sounds like a regular dex loop and some POS rewards. But in cryptocurrency, how much does pure technology relate to token prices? Cryptocurrency is about price consensus, whether it is short-term or long-term.
Most of the time, the evolution of good investment returns in cryptocurrencies is as follows:
1. First stage: Price rises, buy-in.
2. Second stage: This is a Ponzi scheme, I won’t buy.
3. Third stage: This is a Ponzi scheme, I want to buy it.
With the introduction above, you now know what Bera chain is like. Here are some speculations about the NFT airdrop. Click here to read in detail.
Below is a list of projects on Bera chain. It is important to note that the list I provide is definitely not exhaustive as there are too many early-stage projects. I have filtered out most of them after screening.
– Ramen Finance: A collection of Dex and launch platforms providing liquidity to Berachain.
– Beradrome: Staking and liquidity market on Berachain.
– Stacking Salmon: Lending market + leveraged yield farming.
– Honeypotfinance: Swap and Farm on Berachain.
– Beradoge: Bera’s meme.
– Beramonium: NFT role-playing game.
In addition, two ecosystems/followers in the Bera chain should be noted:
– BeraLand: The community hub covering all content on Berachain.
– The Honey Jar: Here you will find all the information about Bera chain + NFTs. If you want to enter the Berachain system, this is a must-view.
– Ursadom Labs: Investors and builders of Berachain.
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