Brief Introduction to Berachain and Its Ecosystem
This article provides a brief overview of Berachain and its ecosystem. With the rise of the Cosmos ecosystem, Berachain has also gained attention. Recently, the co-founders of Berachain hinted at significant events happening soon. This article aims to give readers a general understanding of Berachain and its ecosystem.
Background of Bera
What is Berachain?
Berachain NFT and Airdrop Opportunities
Berachain Ecosystem Projects
This article introduces readers to Berachain and its ecosystem projects. With the emergence of the Cosmos ecosystem, Berachain has garnered attention. Recently, the co-founders of Berachain hinted at significant events happening soon. This article provides a brief overview of Berachain and its ecosystem.
Bera’s Early Background
What is Berachain?
Berachain NFT and Airdrop Opportunities
Berachain Ecosystem Projects
Why should we pay attention to Berachain now? Because the co-founders of Berachain have hinted at significant events happening soon.
Bera is a meme smoking bear NFT project that started with viral spread on OlympusDAO’s Discord. It raised $42 million for the Berachain, an EVM-compatible chain built on the Cosmo SDK with the concept of “proof of liquidity.”
The project is yet to be launched, but the team has been hinting at an upcoming release, generating FOMO sentiment in the community.
Dev Bear and Smokey The Bera, two investors of OHM, have issued an NFT series that has attracted many OGs and investors from OlympusDAO.
This is important because you need to know that their culture supports Ponzi schemes financially.
These NFTs will evolve into more series, although I don’t understand the mechanics behind it. Currently, there are a total of six NFT series, summarized as follows:
Bong bears, floor price: 134E
Bond bears, floor price: 37E
Boo bears, floor price: 12.3E
Baby bears, floor price: 6.5E
Band bears, floor price: 3.9E
Bit bears, floor price: 2.9E
Bear NFT prices are skyrocketing (remember, this is happening in a bear market).
On April 20th, they announced raising $42 million from top institutions and investors.
It is an EVM-compatible L1 built using the Cosmos SDK, with a virtual machine called Polaris VM and a proof of liquidity consensus mechanism.
The main concept is to incentivize users to deposit mainstream tokens such as BTC and ETH to provide liquidity to the chain. These assets are paired with Honey (Bera stablecoin) and invested in LP to earn trading fees and release $Bera.
Essentially, the goal is to retain blue-chip assets in their ecosystem, hoping to:
Provide sufficient liquidity
Promote trading activity
Increase TVL and other data indicators
Ultimately, they hope to achieve a positive flywheel effect.
Digging into more details, the ecosystem primarily consists of three tokens:
$Bera – Gas token
$Honey – Overcollateralized stablecoin
BGT – Governance token, non-transferable gas token obtainable from pledging $Bera
The logic of user pledging is as follows:
Deposit BTC and ETH or future voting assets into the treasury to earn protocol fees and released Bera
Pledge Bera to the treasury to obtain BGT
Fees paid to BGT pledgers
There is also a positive flywheel effect, such as more TVL, more trading volume, more fees, higher BGT yield, more Bera pledgers, ultimately leading to a circular effect.
I know this sounds like a typical dex loop and some POS rewards. But in cryptocurrencies, how much does pure technology correlate with token prices?
Cryptocurrencies are about price consensus. Is this consensus short-term or long-term?
Most of the time, the evolution of good investment returns in cryptocurrencies goes like this:
Stage 1: Price rises, buy-in
Stage 2: This is a Ponzi scheme, I don’t buy
Stage 3: This is a Ponzi scheme, I want to buy it
With the above introduction, now you know what Berachain is like. Here are some speculations about the NFT airdrop.
Click here to read more details.
Below is a list of projects on Berachain. It is worth noting that the list I provide below is definitely not complete, as there were too many early projects, so I filtered out most of them.
Ramen Finance: A collection of Dex and launchpad, providing liquidity to Berachain
Beradrome: Staking and liquidity market on Berachain
Stacking Salmon: Lending market + leverage yield farm
Honeypotfinance: Swap and Farm on Berachain
Beradoge: Bera’s meme
Beramonium: NFT role-playing game
Additionally, two ecosystems/followers in the Berachain system need attention:
BeraLand: The community center covering all content on Berachain
The Honey Jar: Contains all information about Berachain + NFTs. If you want to enter the Berachain system, this is a must-visit.
Ursadom Labs: Investors and builders of Berachain
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