This article will briefly review some of the native projects in its ecosystem that are worth paying attention to.
Written by: defioasis
Editor: Colin Wu
Recently, Berachain, a star public chain, has been making frequent moves. First, it held an NFT event with Binance Web 3 Wallet, and then collected RFB reward applications from ecological project parties, which seemed to indicate that Berachain's TGE date is approaching. Many star public chains have become ghost chains after TGE as the wool party withdrew from liquidity. Berachain's new Proof of Liquidity consensus mechanism attempts to solve this dilemma. Since its birth, this concept has attracted much attention from the community and has subsequently gained capital favor. It has currently received $140 million in financing from multiple institutions.
Berachain mainnet is about to be launched, and its ecological projects are also ready to go. This article will briefly review some of the original projects in its ecology that are worth paying attention to.
Before exploring Berachain, you must first understand the 3 Token model.
1. Token BERA, mainly used for on-chain Gas and staking to activate validator nodes.
2. Token BGT, Token BGT is mainly used for governance. The token is bound to the soul of the holding account and cannot be transferred. Users currently obtain BGT by depositing it in Bex to provide liquidity, lending Honey in Bend, and supplying Honey in Berps' Vault, etc.
3. Token HONEY, a fully collateralized stablecoin pegged to the US dollar on Berachain.
DeFi
Goldilocks
Goldilocks is a DeFi and NFTfi infrastructure based on Berachain. According to Rootdata data, the project completed a $1.5 million financing led by Hack VC and Shima Capital in August this year.
The protocol is mainly composed of Goldiswap and Goldilend. Goldiswap provides basic trading functions, with a customized AMM around its governance Token Locks, which consists of FSL (supporting liquidity pool) and PSL (the price supporting liquidity pool). Goldilend is Goldilocks' NFT lending platform, whose business revolves around the Bong Bear NFT series. Its innovation is that the reasonable minimum valuation of the most NFT is determined by voting by the governance Token LOCKS holders, and does not rely on oracle price feeds.
Honeypot Finance
Honeypot Finance has previously completed seed, pre-seed and strategic rounds of financing, and the total funds raised have now reached US$1.3 million.
The platform mainly consists of DreamPad and HenloDEX. DreamPad is the launch pad of Honeypot Finance, which adopts the FTO (Fair Token Offering) issuance model. The project party will not reserve any tokens during the issuance, and will provide 100% of the tokens to the market. Users can trade after the issuance is completed. HenloDEX is the built-in Dex of Honeypot Finance, which provides limit order function. According to the Honeypot Finance white paper, Honeypot Finance adopts the Batch-A2MM mechanism to resist sandwich attacks and reduce slippage.
The Genesis NFT HoneyGenesis was issued on Arbitrum at the beginning of this year, with a total of 6,000 and a current floor price of approximately 0.1E.
Kodiak
Kodiak is Berachain’s native liquidity center. The testnet has launched Swap, LP, and staking platform Token KDK. The current platform has completed more than 100,000 interactions and over 10,000 transactions. Kodiak provides a solution for BEX’s lack of centralized liquidity. To this end, the protocol proposes an automated liquidity management system — Islands. Users get a similar experience to Uniswap V3 in Kodiak, setting their own liquidity provision range. When users put funds into the pool, Kodiak will dynamically adjust to maintain the best price range. In addition, Kodiak will also launch the Panda Factory feature in the future, which will help users deploy tokens without learning code.
Ooga Boga
Ooga Booga is the native DEX aggregator on Berachain. It has aggregated more than 10 liquidity sources such as BEX, Beradrome, Honeypot, Izumi, etc., and will launch Twin Finance, HoneyFlow, Velocimeter and other liquidity sources in the future. The protocol features the use of zaps to simplify the token approval process to reduce user transaction friction. Ooga Booga only charges transaction fees when the quotes of Bex and Kodiak are both lower than at least 0.15%. The Ooga Booga testnet currently has the Swap and protocol token OOGA Stake functions online.
Rubber
Gummi is a leveraged trading platform for the money market. It also claims to be the first modular money market on Berachain, aiming to become a first-line lending and leverage protocol on Berachain. Gummi supports multiple formats of assets including ERC-20, ERC-721, and LP Token. Lenders do not need permission to use multiple assets on Berachain such as Infrared's iBGT and Kodiak's island on Gummi to establish isolated lending pools to isolate risks. Lenders can customize their lending risk management. Users can lend assets at up to 99% LTV. In addition, Gummi also allows users to hold up to 100 times leveraged positions. Gummi has previously completed a $2 million seed round of financing. Current users need to apply to enter the waiting list to participate in the Gummi test network.
Infrared
Infrared Finance is a liquidity pledge protocol based on Berachain, developed by the Build-a-Bera incubator program, and has completed a $2.5 million seed round. Infrared simplifies the process of users obtaining BGT and BERA, solving the liquidity shortage and fragmented distribution dilemma of Berachain governance token BGT. Users can exchange BGT for iBGT at a 1:1 ratio. iBGT cannot be converted back to BGT, but can be used through the Infrared vault or in other Berachain ecological projects such as lending, Dex, etc. to cultivate DeFi to obtain more benefits.
IVX
IVX is a native liquidity options protocol built on Berachain, which received $1.2 million in seed funding led by Animoca. The current testnet supports trading of four assets: BTC, ETH, SOL, and Doge. In addition to regular options trading, IVX allows users to trade contract options (0DTE) that expire within 24 hours, with a maximum leverage of 200 times.
NFT related
Bong Bears
The Bong Bears NFT series was created by the founder of Berachain in August 2021, with a total of 100. The Bong Bears NFT series is a Rebase NFT, where the previous generation NFT holders will receive the next generation NFT airdrop. The first Rebase of this series was to airdrop the Bond Bears series to Bong Bears holders. After multiple Rebases, 5 NFT series have been born: Bond Bears, Boo Bears, Baby Bears, Band Bears, and Bit Bears.
Due to its deep integration with Berachain, the Bong Bears series is expected to receive airdrop returns, and the floor price of this NFT series is currently 112 E. The floor price of the Rebase NFT collection ranges from 2.8 E — 27.5 E.
Honey Comb
The Honey Jar is the largest unofficial community of Berachain, which mainly carries out a variety of activities such as incubating ecological projects and educating the community. Honeycomb is a Berachain ecological community welfare aggregator created by The Honey Jar, which simplifies the process of the community obtaining community welfare. Holding Honey Comb NFT is one of the ways to obtain welfare. Holders can obtain airdrops, whitelists, purchase discounts and other benefits from The Honey Jar partners.
The total number of Honey Comb NFTs is 16,420, and the current floor price is 0.33E.
Beramarket
Beramarket is one of Berachain's NFT trading markets, where users can conduct basic NFT purchases and sales. It is currently in a closed beta test phase. The project proposes the concept of Liquid-Backed NFT, which combines NFT and DeFi. NFT is backed by the Beramarket vault to maintain market liquidity. Through this liquidity problem solution, NFT can be protected by collateral in extreme market conditions, reducing the extreme fluctuations in the NFT reserve price.
GameFi
Yeet
Yeet is a game on Berachain, and the gameplay is more like Ponzi. Players need to put Token Bera into the Yeet prize pool to participate in the game. Every time a player puts Bera into the prize pool, the prize pool will reset the countdown time. When the countdown reaches zero, the last player to enter will get most of the Bera in the prize pool. Non-last players can also get Token Yeet rewards by participating in the game or get prize pool rewards by providing LP and locking Token Yeet. At the same time, Yeet issued the Yeetard NFTs series, with a total of 5,459 pieces and a current floor price of 0.15E.
BeraTone
BeraTone is a multiplayer casual game that is supported by the Build-a-Bera incubator program. Players can experience farm life such as farming and fishing in the game with a bear as the protagonist. The game is not yet open for testing. BeraTone has launched the BeraTone Founder’s Sailcloth NFT series. Holders will receive airdrops, in-game items and other rights in the future. The total number of this NFT series is 886, and the current floor price is 0.5E.
