Berachain is a new public chain with high popularity. In this article, let’s learn about Berachain’s interaction methods and future expectations.
Berachain is a high-performance EVM-compatible blockchain built on Proof of Liquidity consensus.
Proof of Liquidity is a novel consensus mechanism designed to coordinate network incentives to reward users who contribute liquidity to the entire ecosystem through block rewards, rather than just validating Tx like other PoS.
Proof of Liquidity creates strong synergies between Berachain validators and the project ecosystem.
Berachain's technology is built on Polaris, a high-performance blockchain framework for building EVM-compatible chains on top of the CometBFT consensus engine.
Users mortgage assets (i.e. various stablecoins) through consensus, validators or vaults, and the consensus library is responsible for calculating validator voting weights, allocating block rewards, and liquidity incentives.
The common problem of various Layer 1 protocols at present is the lack of sustained liquidity, because there are not enough incentives to encourage them to stay.
Berachain is trying to optimize this problem and is a DeFi-based EVM compatible with Layer1.
The Berachain economic model includes three tokens, BERA, BGT and HONEY, which is a novel blockchain governance method;
Solve key challenges facing decentralized networks, including systematically building liquidity, addressing stake centralization, and coordinating protocols and validators.
BERA is a network token used to send transactions on the blockchain, which is used as a gas fee token. It can be obtained from the faucet during the current test network stage.
BGT is a governance token used to protect the network through validator rights. The economic value of all tokens in the network forms the security of Berachain.
BGT, when delegated to validators, can be used to create and vote on governance proposals, such as proposals that decide which LP pools receive BGT emissions. Once delegated, the delegator will start receiving various rewards from the network.
BGT can also be burned into BERA at a 1:1 casting rate, but BERA cannot be converted into BGT.
BGT is non-transferable and can only be obtained by depositing liquidity in the native BEX, such as staking liquidity or lending HONYE to obtain BGT.
HONYE is the native stablecoin in the Berachain project and is worth approximately 1 USDC.
Berachain has raised a total of US$111 million and is valued at US$1.5 billion.
It completed a US$42 million Series A financing in April last year and a US$69 million Series B financing in March this year. The investments behind it included well-known institutions such as Polychain, Hack VC and OKX Ventures.
The amount of financing is large and the popularity is high. It is still in the test network stage. After the main network is launched, it is likely to set off a higher wave of participation.
In addition, the Berachain project was launched by four anonymous co-founders. The founders all wore bear masks when they appeared in public.
Anonymous projects cannot know the information and background of the founding team, but they also reflect the decentralized nature of the blockchain.
How to interact with Berachain?
1. Receive test coins and add network
The Berachain Artio test network has been launched, and you can receive test coins and experience it.
To add a test network to the metamask wallet, you can add the network through chainlist.org and search for "Berachain Artio";
Collect BERA at your territorial water address. You can receive 0.1 BERA every 8 hours. Set the time and collect it multiple times at a scheduled time.
2. Berachain internal DAPP experience
On Berachain’s official website, berachain.com, you can view the Lingshui website, DEX, contracts, loans and other internal projects, and you can experience the projects interactively.
The main ways to experience it are operations such as Swap, pledge, MINT, Lend/Borrow, and contract deployment.
If you can’t explore it by yourself, you can also send me a private message to get the Berachain interactive operation tutorial.
3. Ecological project experience
At present, the Berachain ecosystem already has different projects such as defi, nft, gamefi, tool, nftfi, meme, etc.
For example, projects such as AMM DEX platform Beradex, NFT market BeraMarketNFT, domain name service Beanames, cross-chain bridge SynapseProtocol, and web3 game Beramonium are all relatively early and you can pay attention and experience them.
Currently, the Berachain mainnet is not yet online, but popular projects such as zkSync, layerzero, and linea have been interacting with each other for a long time and have a large number of participants. New players can also interact with Berachain to see future airdrop opportunities.
Compared with other Layer 1 public chains, such as APTOS, SUI and other projects, berachain is a new opportunity. Although the ETH ecosystem continues to develop, the blockchain also needs a hundred flowers to bloom and a hundred schools of thought to contend.
Who knows if a new Layer 1 public chain will emerge? Let's stay tuned.
The above is just my personal opinion, no investment advice. I am Chuxiaolian, and I am paying attention to the encryption market and web3.
