Thread by @eli5_defi

1/ #GM! Henlo!
What is @berachain? What is Proof of Liquidity? How do their native tokens play together? Who’s building on their ecosystem? In this #visualthread, we will discuss how @berachain plans to build a #DeFi-native chain.

@itsdevbear
@SmokeyTheBera

$BGT $HONEY $BERA

2/ What is @berachain? Bera is an EVM-compatible L1 built using the @cosmos SDK. Proof of Liquidity and the @Tendermint_Core consensus mechanism powers their chain.

3/ #Liquidity is on-chain gold, it’s what started the @CurveFinance wars, vampire attacks, etc. It’s even more important on the chain-level. It's inevitable that people will flock and migrate liquidity to the most exciting/profitable avenue.

4/ $BGT, $HONEY, and $BERA are the native tokens of @berachain. Each token serves different purposes: governance, medium of exchange (stablecoin), and securing the network (gas) respectively.

5/ Enter Proof of #Liquidity, the exciting part. It is comparable to the delegated Proof-of-Stake mechanism (dPoS), but in this case, they use various whitelisted assets to secure the network.

6/ Staking $BERA yields both $BERA (from block rewards and protocol fees) and $BGT (non-transferrable). Your $BGT holdings reflect how committed you are to the @berachain ecosystem, and acts as a multiplier to the benefits you earn.

7/ $BGT is non-transferrable, to ensure long-term chain-user alignment. It can only be earned through staking $BERA. Protocol and chain revenues (fees and block rewards) are distributed in the form of $HONEY to $BGT holders.

8/ Having a native stablecoin allows $HONEY to inherit @osmosiszone superfluid capabilities. For context, it allows simultaneous liquidity provision and network staking through @CrocSwap.

@0xdoug
@PurposeUnkn0wn
@miyuki__eto
@jeff_w1098
@0xfbifemboy

9/ Here’s an intuitive flywheel for @berachain ‘s three native tokens.

10/ Lastly, this is a (probably dated) list of projects building on @berachain. Can’t wait to see this map rapidly expand!

11/ Ooga Booga References:

@Riley_gmi -

https://twitter.com/Riley_gmi/status/1573380972828979200?s=20&t=r3OJlSpp1qG7Mb3iiPJflg

@itsdevbear - medium.com/@itsdevbear/in…
@burstingbagel -

https://twitter.com/burstingbagel/status/1565705571558309889?s=20&t=smpRUroIwfYFiLi6iez80A

@FWCrypto_ -

https://twitter.com/FWCrypto_/status/1562983796177530880?s=20&t=xO6dwNHz1g3PdLcfXLLHMA

12/ @MarketCapping YouTube videos with @dcfgod and @SmallCapScience for @berachain interview.

13/ Tagged account below to discuss more about the 'fake-chain' @berachain:
@SmokeyTheBera
@smsunarto
@0xdoug
@loldefi
@crypto_condom
@TheDeFinvestor
@nosleepjon
@knowerofmarkets
@burstingbagel
@SmallCapScience
@dcfgod
@0xSami_

13/ Also tagged amazing #DeFi educator account
@byChadManDan
@NickDrakon
@ReveloIntel
@blocmatesdotcom
@archipelabro
@apolynya
@SalomonCrypto
@shivsakhuja
@mimiLFG
@ManoppoMarco
@Dynamo_Patrick
@rektdiomedes
@MeetWawa
@CryptoDragonite
@BarryFried1
@VirtualKenji
@defi_mochi

@byChadManDan @NickDrakon @ReveloIntel @blocmatesdotcom @archipelabro @apolynya @SalomonCrypto @shivsakhuja @mimiLFG @ManoppoMarco @Dynamo_Patrick @rektdiomedes @MeetWawa @CryptoDragonite @BarryFried1 @VirtualKenji @defi_mochi 14/ If you love our thread please like, retweet and turn on the notifications. Thank you and see you in the next #visualguide!

https://twitter.com/eli5_defi/status/1601961508204081152?s=20&t=ccdL3R9-aCCxFJDJZf8qTQ

15/ Trivia Time - We use 'Triskelion' an ancient Celtic's symbol for $BGT, $HONEY and $BERA as it represents cyclical nature of universe and the most important thing usually comes in three. This is to even the @Tendermint_Core symbol that called Triquetra.