What is BeraChain?
Berachain is a high-performance EVM-compatible blockchain. It is characterized by the use of a consensus mechanism called "Proof Of Liquidity" and the use of three tokens to build the underlying ecosystem. Here is a brief introduction. What's going on.
Proof Of Liquidity: It is a consensus mechanism that relies on liquidity provision.
Users provide liquidity on the Berachain platform to earn governance tokens BGT, which are non-transferable and can only be obtained by providing asset liquidity on Berachain’s decentralized exchange “BEX”.
Users can earn BERA and HONEY by delegating BGT governance rights to verification nodes.
Berachain’s three-token model:
BGT (Governance Token): Obtained by providing liquidity and used for platform governance.
BERA (Gas Token): Obtained through 1:1 burning of BGT or verification rewards, used to pay for on-chain transaction fees.
HONEY (stablecoin): a native over-collateralized USD stablecoin used for protocol income distribution.
additional supplement
Meme attribute
name︰
It is not difficult to see that Berachain actually has a strong meme foundation. From the logo and name, we can find that the logo is a bear, but the "Bera" in the name is spelled backwards with the last two letters of "Bear" in English. This is similar to the meme. Because the ancestor Hodl is exactly the same.
website︰
Have you visited it? You'll know after watching it.
Official website: https://www.berachain.com/
NFT︰
There are many officially released NFTs, one of which I think is quite meme-y.
Financing situation
So far, it has raised US$140 million, and its valuation has reached US$1.5 billion. It is a very big project. Although there is no investment record of Binance Labs, Binance’s Web3 wallet has just launched a cooperation mission with Berachain. There must be a chance of being on the Binance stage for the first time.
Further reading: Binance Web3 Wallet x Berachain cooperation mission to obtain exclusive NFT
Source: https://www.rootdata.com/zh/Projects/detail/Berachain?k=MjgxMA%3D%3D
Airdrop teaching
If you have done interaction a long time ago, it was most likely the last testnet version "Berachain-artio", and now it has transitioned to the "Berachain-bartio" testnet, so if you have done it before, you will do it again. Bar.
Berachain testnet
The following interaction is for the purpose of obtaining $BGT tokens.
Next, enter the official ecosystem. It is more convenient to enter through the faucet web page. The URL is placed on the next line.
tap water
Website: https://bartio.faucet.berachain.com/ (can be claimed once every 8 hours, requires an Ethereum mainnet balance of 0.001eth)
BEX decentralized exchange
Website: https://bartio.bex.berachain.com
SWAP token
HONEY, WBERA, WBTC, STGUSDC are all required and will be used, etc. You can exchange other tokens when you have leftover BERA.
(One BERA can be exchanged for HONEY 40%, WBERA 40%, WBTC 8%, STGUSDC 2%. This is the first exchange amount recommendation. You can change it at will later. Remember to leave some BERA as Gas)
BEX Swap
Pool group LP and deposit
Enter the Pool in the upper left corner.
Select HONEY-WBERA and click +Add to enter.
The default is BERA, change it to WBERA, and throw it all in.
Approval and Confirmation. (If that fails, just reduce the quantity by 0. or more units)
After success, "Deposit" will appear. Click to enter.
Deposit LP
The LP quantity just reached the full limit.
Deposit.
You can start receiving BGT rewards after a while. (It only takes one minute, first run the contract record to receive the reward)
PS: You must go to this step to get BGT tokens.
Honey Foundry
網站︰https://bartio.honey.berachain.com/
Choose the stablecoin you want to use.
Mint some Honey tokens.
Redeem some.
Dashboard Lending Market
網站︰https://bartio.bend.berachain.com/dashboard/
Deposit WBTC as collateral.
Lend HONEY, just lend 20%.
Return part of what you borrowed, not all of it.
Provide a little HONEY, which can only earn interest and cannot be used as collateral.
Berps Perpetual Contract Exchange
Visit︰https://bartio.berps.berachain.com/berpetuals
Select a trading pair.
Enter the quantity.
Select the leverage ratio.
Scroll down a little to approve and confirm.
There will be a record on the right after successful confirmation.
PS: A minimum order volume worth 5 HONEY is required. The amount of HONEY here is small, so just increase the leverage. It doesn’t matter if the test network is liquidated. Just remember not to do this after the main network is officially launched.
BGT Station terminal
Website: https://bartio.station.berachain.com/gauge
Here is the operation page related to BGT.
Claim your BGT
Switch to "My Validators".
The amount of BGT you can receive will be displayed on the left.
Click Claim on the right.
Claim your BGT
Proxy BGT to validators
Click "Validators" in the upper left corner
Switch to "All Validators".
It will take some time to distribute BGT to several validators, but you can leave after depositing it and check again when you have time.
Berachain Ecological NFT
The official NFT mentioned at the beginning of the article is actually a way to ambush airdrops, but it is very expensive. If you are interested, you can check it out, but the risk is not low.
third party projects
Berachain has many cooperative projects, some of which are officially announced, but some of which are not.
Just recently, Berachain officially launched some third-party roles on Discord, which shows that the team still cares about third-party projects. However, because there are too many, the space issue will not be discussed here. Only some of the most popular ones are listed. Project for your reference.
Berachain third-party project: https://ecosystem.berachain.com
The honey jar (the most participated platform on Berachain): https://hub.xyz/honeyjar
Infrared (liquidity staking protocol): https://infrared.finance/vaults (Binance Investment)
Yeet (NFT and bond platform): https://www.yeetit.xyz/
PS: Please pay special attention to these third-party platform websites and do not click on strange links, especially the advertising sections.
risk
Berachain's test network has been running for some time, and the possibility of taking a snapshot cannot be ruled out. However, Da Nao believes that taking a snapshot before cooperating with the Binance Web3 wallet is a bit unjust to Binance users. In any case, there is a chance to do it, but it is wrong if it is not done. Definitely not, not to mention this is a zero-cost interaction.
Some third-party projects will cost a certain amount of money, especially The Honey Jar. I don’t particularly like the NFT tasks in it. I think it’s a bit too complicated. Everyone DYOR.
Summarize
Berachain is a project that has experienced the cycle of bull and bear cycles. It has also raised a "hundred million" level of financing this year. The ecology underneath is incredible and the popularity is very high. It is best not to step into it. Finally, remember the Binance Web3 wallet. x Berachain’s collaboration mission also needs to be done!
