Introduction
In 2023, ZK and AI projects will gather together at the hackathon. DeFi is no longer a development hotspot. However, Honeypot Finance stood out and won the award at the ETH-Beijing hackathon with Batch-A2MM. After that, it quickly took root in Berachain’s unique innovation soil, starting from the product side and user side. Honeypot Finance is a positive flywheel. This article will give you an in-depth understanding of Honeypot Finance.
1. Berachain’s innovative soil
Berachain is an L1 public chain built on the Cosmos SDK and compatible with EVM. It adopts an innovative new consensus mechanism - Proof of Liquidity (POL: Proof of Liquidity) and an innovative Tri-token three-token economic model.
Proof of Liquidity (POL: Proof of Liquidity): It is a brand-new consensus mechanism that realizes the control of network liquidity and equity center through mechanisms such as liquidity providers, liquidity mining, liquidity proof and liquidity governance. ization and coordination between protocols and validators.
Tri-token three-token economic model: Berachain’s three-token economic model draws on the experience and lessons of many DeFi projects. Combining the token output of the public chain with liquidity creates a Ponzi structure with high liquidity and high capital efficiency.
Up to now, there have been more than 70 ecological projects deployed on Berachain. The Berachain ecosystem has not only attracted some EVM ecological projects, but has also given birth to a number of native projects. With the recent launch of its public test network "Artio", the total active addresses of the test network The number has risen to 8 million.
The soil for innovation, the enthusiasm of users, and the design of the Ponzi model, Berachain's unique governance reward mechanism are attracting more outstanding project parties to embrace Berachain.
2. The flywheel of Honeypot Finance
Standing on the innovative soil of Berachain, we can see that many DeFi projects are rushing to compete in Berachain, and Honeypot Finance has found the pain points of DEX and created a positive flywheel for Honeypot Finance.
From the product side: Honeypot proposes four aspects of innovation based on the characteristics of the Berachain chain and the innovation of DEX:
DreamPad: A launchpad with a built-in trust layer (DAO) that is community-driven, deep-liquidity, and a fair launch mechanism (FTO) to keep users free of rat silos, prevent developer sell-offs, and gain immediate access to tradable liquidity after launch .
HelonDEX: A (Batch-A2MM) trading protocol with low slippage and MEV resistance. The innovation has won the award at the ETH-Shanghai hackathon, and HPOT DEX will bring higher liquidity efficiency and a better trading experience.
HiveNode: Deeply integrated with Berachain's PoL consensus mechanism, the guide chain consensus mechanism rewards the liquidity from our products and simplifies the PoL mining process.
DeFi-Hub: DreamPad, HelonDEX and HiveNode, the above three products together form the entire path of liquidity introduction, retention and incentives, promoting the positive flywheel of Honeypot Finance.
From the user side: Honeypot uses the fair launch of DreamPad as the liquidity entrance. The launched token pairs can be directly injected into HelonDEX for trading and providing liquidity, and finally obtain the incentive of Proof of Liquidity (PoL) through the HiveNode node. Act as a flywheel to maximize user benefits.
3. Honeypot Finance team and ecosystem
The Honeypot Finance team are all senior practitioners from the encryption industry. The project CEO and CTO are the organizers of Berachain's largest developer community. The other main members of the project team come from developers of projects such as Trisolaris, Tencent and IoTex.
Currently, Honeypot Finance ecosystem project partners include: Axelar, Chainlink, etc. With the opening of the future test network, we look forward to more projects joining the Honeypot Finance ecosystem.
Summarize
To sum up, we believe that the Honeypot Finance team is a team with mature product delivery capabilities, BD capabilities and operational capabilities. Team members have a deep and unique understanding of Berachain and DEX innovation, and look forward to Honeypot Finance bringing a new DeFi user experience.