Boyco has successfully concluded, and the Berachain mainnet will launch on February 6. It's time to deeply understand the ecosystem and gameplay of Berachain.
In just 7 days, Boyco has achieved over 3 billion in TVL, and even before the launch of the @berachain mainnet, it has already become the 6th ranked public chain in terms of TVL! These funds will enter the main dApps on the Berachain mainnet upon its launch, becoming liquidity on the chain! So, which ecological dApps are worth paying attention to after the mainnet goes live?
The following summarizes the outstanding ecological applications in 7 tracks, including DEX, lending, and liquidity staking, for your reference.
1. DEX
BeraSwap @BeraSwap_Defi
BeraSwap is the native DEX of Berachain, inspired by Balancer V2. BeraSwap will support smooth liquidity trading within the ecosystem and ensure the effective operation of the PoL mechanism.
In the governance update announced on January 31, during the governance zero phase, which is when the mainnet goes live, only LPs in BeraSwap will receive $BGT emissions, with specific LP pairs awaiting official announcement. Even if you did not participate in Boyco, you can still provide LP on BeraSwap as soon as the mainnet launches and earn $BGT rewards through the PoL mechanism.
Whether new or old users, regardless of when they join, they can start earning rewards from day one, which is the charm of the PoL mechanism!
Latest governance update: blog.berachain.com/b...
Kodiak @KodiakFi
Kodiak is a project selected for the Build a Bera incubator.
Kodiak supports CLAMM similar to Uniswap v3, allowing LPs to set and concentrate liquidity within a specific range. By providing liquidity within a more concentrated range, it improves capital efficiency.
Island is a very user-friendly feature provided by Kodiak that helps users automatically balance CLAMM ranges through BeraSwap, reducing the hassle of liquidity management.
Panda Factory is a no-code token deployment factory that allows for the permissionless deployment of new tokens and initial liquidity, such as memecoins, efficiently and conveniently on Kodiak!
Honeypot Finance @honeypotfinance
Honeypot Finance is a comprehensive DeFi tool, covering everything from token issuance to providing liquidity and effective trading. Through Honeypot, meme coins can be launched in just 5 seconds, making it very suitable for the development of the meme ecosystem.
Its main products include:
Pot-Wasabee DEX: Meets the needs of all memecoin and long-tail asset enthusiasts, featuring a unique meme-centric approach, enhanced incentives, and a seamless user experience.
Dreampad: Supports various token launch methods, including Fair Token Offering (FTO) models and Fjord Foundry's LBP and fixed price sales.
Pot2Pump: A meme launchpad that combines a liquidity-centric meme model with a fair launch mechanism similar to the pre-dex phase of Daos.fun. Early participants will become LPers on Meteora like the LP army, ensuring optimal concentrated liquidity management through ALM (Automated Liquidity Manager), providing strong support for liquidity providers.
Additionally, there are important on-chain DeFi infrastructures like the stablecoin swap BurrBear @moneygoesburr, and the liquidity aggregator ooga booga @0xoogabooga, similar to Jupiter.
These DEXs each have different focuses and can complement and expand each other, providing users with more choices and laying the foundation for the prosperity of the on-chain ecosystem.
2. Lending
BEND
BEND is Berachain's native lending protocol, allowing the use of $WBTC and $WETH as collateral to borrow stablecoin $HONEY, or deposit $HONEY.
BEND differs from typical lending protocols in two ways:
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$HONEY cannot be used as collateral.
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Deposits of $WBTC and $WETH do not earn interest, but borrowing $HONEY generates $BGT rewards.
Thus, it is also a very good way to earn $BGT. This mechanism also reinforces and fully utilizes Berachain's PoL mechanism, increasing lending demand to enrich liquidity through $BGT, and providing a smoother experience for the ecosystem through $HONEY.
Beraborrow @beraborrow
Beraborrow is an over-collateralized stablecoin protocol that supports Bera native tokens, liquidity staking derivatives $iBGT, or LP positions as collateral for minting stablecoin $NECT.
$NECT can be used throughout the Berachain DeFi ecosystem, releasing more opportunities while maintaining exposure to the original assets.
Gummi @GummiFi
Gummi is a lending project selected for the Build a Bera incubator.
Gummi defaults to a non-oracle currency market, supporting any asset in a permissionless manner, allowing for the creation of currency markets for any currency pair in just a few minutes.
Gummi has established partnerships with core infrastructures like Infrared and Kodiak, planning to support leverage mining features for $iBGT and various LP tokens from Kodiak.
Unlike lending protocols on other public chains, due to Berachain's PoL mechanism, on-chain lending protocols can amplify $BGT emissions, and as more protocols are launched and the ecosystem diversifies, lending protocols will play a greater role.
3. Derivative Protocols
Derivative protocols are also important DeFi infrastructures on the chain, with various derivative protocols on Berachain utilizing the PoL mechanism in different ways, each with its own characteristics.
Berps
Berps is Berachain's native Perp DEX. Users can use $HONEY to establish leveraged positions on various assets in Berps, or deposit $HONEY to provide liquidity needed for traders' positions, earning trading fees, funding fees, and $BGT.
Berps provides a simple and clear use case for $HONEY while also offering an effective entry point to earn $BGT. Even new users unfamiliar with DeFi can earn $BGT rewards through Berps in a straightforward manner.
SMILEE @SmileeFinance
SMILEE is an options protocol that provides position creation for DEX liquidity, i.e., LPs, to hedge positions.
Options created in SMILEE generate more profits during significant price fluctuations, producing effects completely opposite to impermanent loss. Users need to pay a certain premium to establish option positions in SMILEE, including:
Bull: Betting on a significant price increase until expiration.
Bear: Betting on a significant price decrease until expiration.
Smile: Betting on significant price fluctuations upwards or downwards until expiration.
Additionally, users can earn option fees by providing liquidity for option positions! Although this may face impermanent loss equal to the trader's profits, SMILEE can reduce impermanent loss through real-time rebalancing of liquidity.
Exponents @Exponents_Fi
Exponents is a non-liquidation derivatives platform for every on-chain asset, with an incentive system for projects and traders built-in. Through its self-developed inverse asset issuance protocol IBC (Inverse Bonding Curve), it achieves leveraged positions for all assets within the ecosystem without liquidation!
Bonding Curve is a price discovery mechanism used by many meme launchpads like Pump.fun, while IBC is a corresponding inverse mechanism where prices decrease with increasing demand, leading to more collateral assets being deposited and an increase in receivable assets.
Exponents uses the IBC mechanism to achieve long and short positions for all assets without needing oracles, aiming to steepen the slope of the Bonding Curve by adjusting IBC mechanism parameters, thus providing non-liquidation leveraged positions.
IBC is also applicable for staking synthetic assets issued within the protocol and distributing protocol profits. Combined with the PoL mechanism, issuing assets through IBC can also earn $BGT rewards, enabling more diverse gameplay.
In addition to the above three, Berachain also has various derivative protocols with unique innovative mechanisms. This includes @ivx_fi, which establishes short-term high-leverage positions at low costs through 0-DTE functionality.
It also includes @Polarityfi, which first launched composable options, allowing traders to automatically market-make liquid options through its options automated market maker and utilize unrealized gains to obtain secondary liquidity.
4. Liquidity Staking
In typical POS public chains, only nodes can earn native token rewards by validating the network. Liquidity staking protocols allow ordinary users to earn native yields by accepting staking of native tokens and delegating them to nodes.
In Berachain, when liquidity providers deposit liquidity tokens obtained from ecological protocols into Berachain, they can earn rewards calculated in $BGT as well as liquidity yields. Berachain has actually embedded the liquidity reward mechanism into its intrinsic operating mechanism.
On-chain protocols can provide rewards and gain voting rights by collaborating with validating nodes, or run their own nodes to establish a self-sustaining flywheel model.
Infrared @InfraredFinance
Infrared is also a project selected for the Build a Bera incubator.
Users can deposit LP tokens from liquidity pools into Infrared's storage pool, and Infrared will use these LPs to generate $BGT yields, with users receiving $iBGT proportional to their deposited LP. Infrared operates its own nodes! $iBGT can be used in three ways:
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Staked in Infrared to earn rewards generated by running nodes.
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Used in other DeFi protocols.
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Sold for profit.
Infrared turns $BGT into a liquid token through this method, distributing rewards generated by the PoL mechanism to $iBGT stakers and integrating $iBGT into more application scenarios within the ecosystem.
Infrared will also launch new features that allow it to receive and liquidate the $BERA needed for node operations while running nodes and distributing profits, such as the Island feature introduced in previous tweets about Kodiak. Many ecological projects have already partnered with Infrared, planning to launch various derivatives based on Infrared.
BeraPaw @0xBeraPaw
BeraPaw is an innovative liquidity staking protocol that converts Berachain's native tokens into more versatile and liquid assets, providing users with a seamless experience.
BeraPaw does not run nodes but operates Vaults between different nodes and liquidity pools registered with BeraPaw, issuing $LBGT as the liquidation token for $BGT. The governance token for BeraPaw is $PAW, and $PAW holders are the owners of the protocol, entitled to decide how to delegate $BGT among validators while receiving protocol rewards.
BeraPaw splits the utility of the $BGT token through $LBGT and $PAW, with $LBGT used to receive rewards and $PAW having governance rights! Users can use $LBGT for trading, staking, entering leveraged positions, etc., throughout the Berachain ecosystem, with all PoL interactions being automated. The flexibility and yield of $LBGT surpass that of $BGT, as $BGT's non-transferable and non-tradable nature requires liquidity staking to lift liquidity restrictions for $BGT, providing users with more gameplay and yield scenarios. Therefore, liquidity staking protocols are also an indispensable core DeFi infrastructure for Berachain.
5. Games
On-chain betting game Yeet @eatsleepyeet
Yeet uses $BERA for on-chain betting, allowing anyone to bet $BERA (approximately 0.5% higher than the previous depositor's $BERA) in Yeet's liquidity pool during the set game time to participate. The last user to deposit $BERA takes 80% of the total deposits in that liquidity pool.
Even if you do not win the game, you will receive $YEET rewards proportional to your bet amount, which can be staked in the official Vault to earn a certain percentage of protocol income and yield. The Vault will use part of its assets to provide liquidity to Kodiak, and then deposit the received liquidity tokens into Beradrome to maximize yields!
Yeet will also launch the YeetBond feature, allowing users to claim bonds for specific tokens at a discounted price based on the market price at maturity. Yeet, besides being a betting game, deeply integrates Berachain's PoL and DeFi gameplay to provide users with maximized yields and interesting experiences.
Yeet's airdrop is now available for inquiry: docs.google.com/spre...
PuffPaw @puffpaw_xyz
PuffPaw is a Vape 2 Earn project that measures smoking activity through automatically produced smoking devices and liquid boxes, distributing higher $VAPE token rewards for lower nicotine content liquids to encourage quitting smoking.
For users who do not wish to smoke, they can participate in PuffPaw by leasing the device to users who cannot purchase it and sharing profits. Whether or not they smoke, everyone can get involved in PuffPaw.
In December 2023, PuffPaw's participation ticket PUFF PASS NFT sold out successfully, and additional device sales are expected to strengthen brand image and expand the ecosystem. Additionally, PuffPaw plans to generate revenue by providing AI and insurance companies with user device usage data to support the long-term value of $VAPE while exploring ways to create additional income for $VAPE holders through PoL.
Beratone @BeratoneGame
Beratone is a project selected for the Build a Bera incubator.
BeraTone is an online multiplayer farming and life simulation game themed around bears, inspired by Animal Crossing. In the game, each player has their own piece of land that they can customize and expand freely.
BeraTone has released the Genesis NFT - Sailcloth, allowing holders to experience the game early.
6. Unique Innovative Projects
Goldilocks @goldilocksmoney
Goldilocks is a DAO dedicated to developing customized DeFi infrastructure for Berachain. It consists of three core products:
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Goldiswap: An innovative AMM for managing the supply, price, and behavior of the DAO governance token $LOCKS.
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Goldilend: An NFT lending platform specifically designed for Berachain blue-chip NFTs.
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Goldivaults: A vault that tokenizes the future yields of yield positions in Berachain's DeFi ecosystem, similar to Pendle's interest rate swap functionality, allowing users to trade and speculate on the value of those yields.
Beradrome @beradrome
Beradrome is Berachain's native re-mortgaging and liquidity market, distributing generated profits and negotiated rewards with other protocols to users. Beradrome adopts an innovative token structure, including BERO, hiBERO, and oBERO tokens, each providing different advantages and incentives to users.
$oBERO: Used to reward users who deposit liquidity tokens in Beradrome. By burning $oBERO, users can gain voting rights or deposit an equivalent amount of $HONEY to mint and receive $BERO.
$BERO: The main token of Beradrome. During the minting process, by burning $oBERO, users can obtain deposited $HONEY, ensuring that the value of $BERO remains above 1 $HONEY.
$hiBERO: The governance token of Beradrome, obtainable by staking $BERO. Users can use $BGT held by Beradrome to vote on which liquidity pools should receive $oBERO and can earn profits generated by the protocol. They can also use staked $hiBERO as collateral to borrow $HONEY.
Through this mechanism, the rewards generated within the protocol can be internalized as much as possible, keeping the prices of $BERO and $hiBERO above $1, thus providing non-liquidation borrowing opportunities. At the same time, it attracts more protocols to develop liquidity through Beradrome, establishing a self-sustaining flywheel and redistributing rewards to users.
Beradrome will also operate its own nodes, gaining $BGT emission voting rights by accepting external $BGT delegation, separating it from its protocol operation mechanism, and distributing $BGT to the $hiBERO minting pool. If successfully executed, $hiBERO holders will simultaneously receive Beradrome's profits and $BGT, attracting more liquidity to the Beradrome ecosystem.
Ramen @ramen_finance
Ramen is a Launchpad protocol, similar to Honeypot Finance's Dreampad, helping new protocols prepare for launch on Berachain and safely raise funds through fair token sales. Ramen has two Launchpad modes:
Fixed Price Mode: Users need to register on the whitelist or stake Ramen's native token $RAMEN to obtain Gacha tickets, which can be consumed to win in the lottery.
Price Discovery Mode: Anyone can participate. The settlement price is determined through bidding, granting token rights starting from the highest bidder.
Ramen will also launch Airdrop Recipes, allowing users to easily set and execute token airdrop standards. Ramen provides all necessary functions from token issuance to sales and distribution, aiming to become the core infrastructure adopted by new projects after the launch of the Berachain mainnet.
7. Community
The Honey Jar @0xhoneyjar_cn @0xhoneyjar
The Honey Jar is the most influential community portal on Berachain, serving as a welfare aggregator for Bera ecological projects. Holding the Honeycomb NFT issued by THJ grants access to numerous NFT whitelist and token airdrop opportunities from collaborative projects, making it the undisputed golden shovel in Berachain.
THJ has made significant contributions to user education and promotion on Berachain, creating various educational content, including Dune data dashboards, to help new and old users understand and utilize Berachain.
The Honey Jar is also an ecological incubator for Berachain, having incubated multiple projects, such as:
Community evaluation services for Berachain ecological projects @StandardAndPaws
A platform for measuring and rewarding contributions to the Berachain ecosystem @BeraInfinity
Facilitating deep integration and liquidity for Berachain @ApiologyDAO, among others.