Next Hype : BeraChain (+$2000) Airdrop
Berachain: Pioneering DeFi with Innovative Blockchain Solutions
Introduction:
Berachain emerges as a revolutionary Layer 1 solution within the blockchain space. Built on the Cosmos SDK, it features an EVM equivalent and employs the Proof of Liquidity (PoL) consensus — a variant of delegated Proof of Stake. This groundbreaking blockchain seeks to harmonize incentives between security and liquidity at the protocol level, creating a symbiotic relationship between liquidity and security.
Proof of Liquidity (PoL): Revolutionizing Security and Liquidity:
PoL serves as a sybil resistance mechanism, revolutionizing the synergy between security and liquidity within the network. Unlike traditional proof-of-stake chains, Berachain enables users to stake for security and contribute to on-chain liquidity simultaneously. By providing liquidity to embedded DeFi primitives, users contribute to network security and earn the Berachain governance token (BGT).
Why Berachain?:
Berachain introduces a sustainable model for protocols to build their liquidity base and enhance capital efficiency over time. Successfully approved protocols through governance votes can reward their Liquidity Providers (LPs) with BGT, attracting more liquidity at lower costs. This aligns incentives, drawing the best protocols to build on Berachain, acting as effective user acquisition channels.
Tri-Token Structure: BERA, HONEY, and BGT:
Berachain’s economic structure revolves around a tri-token system:
- BERA: The native token used for transaction gas on the chain.
- HONEY: The stablecoin collateralized 1-to-1 with USDC, earned by staking BGT.
- BGT: The staking and governance token, earned by providing liquidity to Berachain’s core primitives.
Why Stake BGT?:
Staking BGT allows users to influence the direction of BGT emissions, earn fees in HONEY from PoL-powered protocols, and receive rewards from their chosen validator. It empowers users to actively shape the network’s development.
Why Burn BGT for BERA?:
Users may choose to burn BGT into BERA for various purposes, including paying for gas, using it in other chain applications, or selling their position.
Native dApps on Berachain:
- BEX: Native AMM/DEX.
- BEND: Native stablecoin lending platform.
- BERPS: Native perpetual exchange.
Berachain and Bong Bears NFT:
While created by the same team, Berachain and Bong Bears NFT are separate projects. Berachain stands independently, offering users the opportunity to participate in its ecosystem without owning a Bong Bear NFT.
Getting Started and Building on Berachain:
- Faucet: Acquire BERA, the gas token, by visiting Berachain Faucet.
- Minting HONEY: Mint HONEY by swapping testnet BERA or other tokens for stgUSDC on the BEX.
- Building on Berachain: Developers can explore Berachain Documentation for detailed information. Protocols interested in building on Berachain can express their interest through this form, and the Ecosystem Growth Team will schedule a meeting.
Conclusion:
Berachain opens new possibilities in the DeFi landscape, providing a unique blend of security, liquidity, and innovative economic structures. Join the Berachain community and be part of this exciting journey into the future of decentralized finance!
Official Links and Galxe OAT answers :
Go to Faucet and test tokens/links : https://artio.faucet.berachain.com/
Galxe : https://galxe.com/Berachain/campaign/GC433ttn6N
Answers OAT :
1- Proof-of-Liquidity
2- Providing liqudity on DAO approved protocols on BeraChain
3- BTC
4- Polaris EVM
5- FAUCET
