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With a fake item, you cannot turn it into a real item, but what if you turn a fake chain into a real chain? This seemingly playful idea is exactly what Berachain did.
#FOMO
#FOMO
1. @berachain is a unique and innovative L1 solution, built on the Cosmos and compatible with EVM. Starting from the NFT Bong Bear collection, Berachain is now more popular with the community with the slogan "fake chain => real chain”
- Proof-of-Liquidity
+ Unlike traditional PoS mechanisms, in PoL, validators stake assets such as cryptocurrencies, stablecoins, or other tokens that have liquidity on DEXs.
+ Unlike traditional PoS mechanisms, in PoL, validators stake assets such as cryptocurrencies, stablecoins, or other tokens that have liquidity on DEXs.
+ Berachain's Proof-of-Liquidity feature enables users to stake assets from not only their own $BERA tokens, but also from other Layer-1 platforms. When staking tokens through validators, BeraChain pairs them with the project's stablecoin $HONEY on a DEX.
This allows users to receive rewards as both validators and liquidity providers.
+ Berachain's implementation of the "Proof-of-Liquidity" consensus system is a novel approach that seeks to enhance the liquidity and capital efficiency of the network.
+ Berachain's implementation of the "Proof-of-Liquidity" consensus system is a novel approach that seeks to enhance the liquidity and capital efficiency of the network.
By enabling users to stake assets and use them for on-chain activities like trading, borrowing, or lending, the network can bolster its overall activity and attract a greater number of users.
2. Tokenomics
- Berachain's economy revolves around three primary tokens: $BERA, $BGT, and $HONEY.
+ The native token, $BERA, is utilized to pay gas fees and compensate validators. All tokens expended on gas fees are incinerated, and presently, ...
- Berachain's economy revolves around three primary tokens: $BERA, $BGT, and $HONEY.
+ The native token, $BERA, is utilized to pay gas fees and compensate validators. All tokens expended on gas fees are incinerated, and presently, ...
$BERA undergoes a 10% annual inflation rate. Additionally, when staking, users are rewarded with $BGT, which functions as the governance token of the project. The duration of a user's $BERA staking determines the amount of $BGT they receive. Moreover,$BGT is represented as an NFT
+ $BGT is used to vote on the reward rate for each staking asset and to decide which token to add to the staking asset. It's an #NFT that can't be transferred, $BGT holders receive a share of revenue generated from transaction fees on BeraChain in the form of stablecoin $HONEY
+ $HONEY is the stablecoin of the BeraChain ecosystem. It is minted by over-collateralizing assets with 150% of the value of the collateral. $HONEY plays an important role in BeraChain. Staking assets will be paired with HONEY to boost liquidity on DEX exchanges.
3. Compared to other Layer 1
- The tokenomics of @berachain is relatively complex, with three main tokens, each with its own specific function.
- The introduction of $HONEY as a stablecoin within the BeraChain ecosystem sets it apart from other Layer 1 tokens,
- The tokenomics of @berachain is relatively complex, with three main tokens, each with its own specific function.
- The introduction of $HONEY as a stablecoin within the BeraChain ecosystem sets it apart from other Layer 1 tokens,
as stablecoins are not typically associated with Layer 1 protocols. The use of HONEY as a means of incentivizing liquidity and as a funding currency for decentralized exchanges is an innovative concept.
Top project in Eco
Although the ecosystem is in its full early stages of completion and many Dapps are yet to be configured, but it will be released soon and we can discover more information.
Although the ecosystem is in its full early stages of completion and many Dapps are yet to be configured, but it will be released soon and we can discover more information.
.@CrocSwap - is a DEX built on Berachain that utilizes concentrated and ambient liquidity to improve price discovery. Its single-contract design simplifies trading and reduces gas fees.
@BeramudaFinance - is a governance aggregator and yields optimizer within the Berachain eco
@BeramudaFinance - is a governance aggregator and yields optimizer within the Berachain eco
.@Grizzli_Finance - offers non-custodial stablecoin swaps within the Berachain eco
@hiberanation - is an auto-compounding platform that automatically stakes profits to earn even more rewards
@hiberanation - is an auto-compounding platform that automatically stakes profits to earn even more rewards
.@BeraCreek - aims to bring isolated lending pairs to the Berachain ecosystem
@artio_finance Money market aiming to provide a liquid staking solution on chain
@artio_finance Money market aiming to provide a liquid staking solution on chain
On the evening of April 20, 2023, Berachain announced that it had successfully raised $42M in a private round led by @polychaincap .
https://twitter.com/berachain/status/1649050293080915968?s=20
A few hours later, @OKX_Ventures , the investment branch of Web3 technology company and leading cryptocurrency exchange @okx , also confirmed their investment in Berachain.
https://twitter.com/OKX_Ventures/status/1649302398790426624?s=20
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This thread is Not Financial Advice.
This thread is Not Financial Advice.
https://twitter.com/FOMO_insights/status/1649822259312472064?s=20
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