Boyco has successfully concluded, and the Berachain mainnet will go live on February 6. It's time to delve deeply into the Berachain ecosystem and its gameplay.
The 7-day Boyco event has garnered over 3 billion in TVL, and even before the @berachain mainnet launch, 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 ecosystem dApps are worth paying attention to after the mainnet goes live?
The following summarizes outstanding ecosystem applications across 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.
Regardless of whether you are a new or old user, you can start earning rewards on your first day of joining, 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, which 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 launching 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 ideal 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 users to borrow stablecoins $HONEY using $WBTC and $WETH as collateral, or deposit $HONEY.
BEND differs from typical lending protocols in that:
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$HONEY cannot be used as collateral.
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Deposits of $WBTC and $WETH do not earn interest, but borrowing $HONEY will generate $BGT rewards.
Thus, it is also a very good way to earn $BGT. This mechanism 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's 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 partnered with core infrastructures like Infrared and Kodiak, planning to support leveraged 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. 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.
Berps
Berps is Berachain's native Perp DEX. Users can use $HONEY to establish leveraged positions in various assets 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 for earning $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 their positions.
Options created in SMILEE generate more profit 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 traders' 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, featuring an incentive system for projects and traders. By utilizing its self-developed Inverse Asset Issuance Protocol (IBC), it achieves leveraged positions for all assets in 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 an oracle, 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, including @ivx_fi, which establishes short-term high-leverage positions at low costs through a 0-DTE feature, and @Polarityfi, which first launched composable options allowing traders to purchase liquid options through its options automated market maker and utilize unrealized gains for 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 the staking of native tokens and delegating them to nodes.
In Berachain, when liquidity providers deposit liquidity tokens obtained from ecosystem 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 operational mechanism.
On-chain protocols can provide rewards and gain voting rights by collaborating with validator 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 runs its own nodes! $iBGT can be used in three ways:
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Staking in Infrared to earn rewards generated by running nodes.
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Using in other DeFi protocols.
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Selling for profit.
Through this method, Infrared turns $BGT into a liquid token, distributing rewards generated through 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 $BERA needed for node operations while distributing rewards, such as the Island feature introduced earlier in the tweets about Kodiak. Many ecosystem 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 earning protocol rewards.
BeraPaw splits the utility of the $BGT token through $LBGT and $PAW, with $LBGT used for receiving 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 automated. The flexibility and yield of $LBGT surpass that of $BGT, and due to the non-transferable and non-tradable nature of $BGT, liquidity restrictions for $BGT can be lifted through liquidity staking, 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 in the game. 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 betting 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 yield!
Yeet will also launch the YeetBond feature, allowing users to claim specific token bonds at a discounted price based on the market price at expiration. 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 devices to users who cannot purchase them and sharing profits. Regardless of whether they smoke, users can engage with 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. Furthermore, PuffPaw plans to create 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 in advance.
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 with interest rate swap functionality similar to Pendle, tokenizing future yields of yield positions in Berachain's DeFi ecosystem, allowing users to trade and speculate on the value of those yields.
Beradrome @beradrome
Beradrome is Berachain's native re-collateralization and liquidity market, distributing generated profits and rewards negotiated with other protocols to users. Beradrome adopts an innovative token structure, including BERO, hiBERO, and oBERO tokens, each providing users with different advantages and incentives.
$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 along with deposited $HONEY, the value of $BERO is guaranteed to remain above 1 $HONEY.
$hiBERO: The governance token of Beradrome, obtainable by staking $BERO. Users can vote on which liquidity pools should receive $oBERO using $BGT held by Beradrome and can earn profits generated by the protocol, or 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 dollar, 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 run its own nodes, obtaining $BGT Emission voting rights by accepting external $BGT delegation, separating its operational mechanism from the protocol, and allocating $BGT to the $hiBERO minting pool. If successfully executed, $hiBERO holders will simultaneously receive profits from Beradrome 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, making it easy to set and execute token airdrop criteria. 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 ecosystem 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, producing various educational content, including Dune data dashboards, to help both new and old users understand and use Berachain.
The Honey Jar is also an ecosystem incubator for Berachain, having incubated multiple projects, such as:
Community assessment service for Berachain ecosystem projects @StandardAndPaws
A platform for measuring and rewarding contributions to the Berachain ecosystem @BeraInfinity
Facilitating deep integration and liquidity for Berachain @ApiologyDAO, among others.