【Project Introduction】
Berachain is a unique EVM public chain project that uses an innovative Proof of Liquidity consensus mechanism and is built on the Cosmos SDK platform based on the Polaris EVM framework. Polaris EVM is tailored specifically for Berachain and provides a modular stack architecture. Unlike general Layer 1 blockchain platforms, Berachain is unique in its token design, consensus model, and ecosystem construction.
The Proof of Liquidity (PoL) mechanism requires users to deposit blue-chip tokens (such as BTC, ETH, etc.) into Berachain's native decentralized exchange BEX, in order to obtain the network's governance tokens as a liquidity provider LP. BGT not only bears the responsibility of verifying on-chain nodes, but also has voting governance capabilities. Users can vote through $BGT to decide various governance matters, such as the distribution of token rewards in the LP pool. This mechanism effectively combines liquidity with on-chain governance, thereby promoting the health and activity of the entire network.
【project financing】
In 2023, Berachain successfully completed a $42 million Series A financing led by Polychain Capital, with participation from Hack VC, Shima Capital, Robot Ventures, OKX, etc. This financing brought Berachain's valuation to approximately $420 million, providing financial support and market recognition for future development. Subsequently, on April 12, 2024, Berachain received another $100 million in Series B financing, and the current valuation of the project is $1.5 billion.
【Project Token】
Berachain's token system includes three main tokens:
$BERA: Token used as gas fee.
$HONEY: Stablecoin on Berachain, used for transactions and storage of value.
$BGT: A governance token that is non-transferable and cannot be purchased, used by nodes to perform Proof of Liquidity (PoL). $BGT holders can earn rewards by providing liquidity to the ecosystem and participating in lending protocols, thereby increasing their influence in network governance. BGT may be one of the most important weights in the airdrop.
【Berachain V2 Upgrade】
On June 13, Berachain V2 introduced the BeaconKit framework to enhance the stability and security of its architecture and consensus mechanism. This version maintains the previous three-token model and PoL incentive mechanism, and supports a wider scale of TVL (Total Value Locked) by expanding the team of validators and adopting a modular design. In addition, Berachain V2 has optimized the performance bottlenecks encountered in the V1 version, such as memory pool management and block space requirements, thereby significantly improving user experience and collaboration efficiency between ecosystems.
【Tutorial Start】
1. Receive water (need to have 0.001ETH balance on the mainnet)
Link to receive water: https://bartio.faucet.berachain.com/
Enter the wallet address and click Drip Tokens to receive the test tokens.
Now one IP can claim 1 bear every 8 hours. It is recommended that you claim more. Previously, in V1, the claim was limited to 0.1 bear at a time.
For cheap mainnet top-up, please read this article: https://x.com/EvaCmore/status/1804938343375159436
Water human-machine verification solution: https://x.com/EvaCmore/status/1803006714058612970
2. BEX does SWAP interaction
BEAR → SWAP → HONEY, WBTC, STGUSDC, WBEAR will be needed for the following tasks
Link: https://bartio.bex.berachain.com/swap
1️⃣Replace BEAR with HONEY
2️⃣Exchange BEAR for WBTC
3️⃣Replace BEAR with WBEAR
4️⃣ Exchange STGUSDC and then need to mint HONEY
3. BEX Portfolio LP Earns BGT
Link: https://bartio.bex.berachain.com/pools
It is recommended to choose LP with high annualized rate to earn BGT
Select the LP you want to combine, click Enter--Authorize--Confirm to add LP
4. Mint Interaction STGUSDC Mint HONEY
Link: https://bartio.honey.berachain.com/#mint
Enter the page--Authorize STGUSDC---then confirm
5. Loans---Pledge WBTC WETH to borrow HONEY
Link: https://bartio.bend.berachain.com/dashboard
You can stake WBTC WETH. If you need to stake it again, you must withdraw it and then stake it again.
Click Deposit - Authorize WBTC - Confirm Deposit - Deposit is successful
Then you can borrow Honey from this place
After lending, you can provide Honey here to earn BGT income
6. Deposit HONEY in BEND to earn BGT rewards
Link: https://bartio.berps.berachain.com/vault
Click Deposit Honey---Authorization---Deposit ---Pledge successfully, and then you will get the certificate bHONEY
Then click ---- Deposit bHONEY to earn BGT rewards
Then click Deposit - enter the deposit page, where you can receive BGT rewards
7. Stake BGT and entrust voting
Link: https://bartio.station.berachain.com/validators
Enter this page and click the icon on the right to enter the pledge page - click Delegate - enter the amount - click Vote
Click Delegate - enter the amount - click Vote - voting is complete
8. DEXYNTH opens contracts for trading
Link: https://www.dexynth.com/?invite=IF16BCLJ
After entering, link the wallet, click on the transaction, and then receive the USDT test currency
Select the multiple and quantity you want to open--click to open
9. BERPS opens contracts for trading
Link: https://bartio.berps.berachain.com/berpetuals
This requires HONEY to trade
Set the quantity, multiple, stop loss, etc. you want to open --- click authorization -- confirm
10. Other DAPPs
DEX :https://alpha.izumi.finance/trade/swap
Official website address:
https://www.berachain.com/
Bearchain Ecosystem:
https://ecosystem.berachain.com/
The interactive tutorial ends here. The tutorial will be continuously updated, and everyone is welcome to click three buttons in a row.
