Title: Berachain Mainnet Launch Imminent, Highlights of the Ecosystem and Star Projects
Source: Pzai, Foresight News
On February 4th, the Berachain official announced that the mainnet will be officially launched on February 6th, which quickly sparked widespread market attention and discussion. This article analyzes Bera's landscape from the perspective of previous activities and the future mainnet ecosystem.
Activity Recap
As a liquid public chain, the accumulation of liquidity requires certain pre-preparation. Previously, Berachain launched the Boyco mainnet liquidity pre-deposit activity, allowing users to pre-deposit liquidity on Ethereum to Berachain ecosystem DeFi protocols through cooperation with protocols such as Ethena, Etherfi, and Lombard. The activity attracted over $3.1 billion in assets, which will be transferred to the Boyco dApp after the mainnet launch.
In terms of airdrop shares, 2% of BERA will be distributed to all liquidity pools, and users can also obtain APY returns from the liquidity. Airdrops can also be expected for ecosystem projects.
In addition to the Boyco mainnet liquidity pre-deposit activity, Berachain has attracted a large number of developers and users to participate in the testnet interaction through its EVM compatibility. Users can accumulate on-chain interaction records by trading on the DEX (such as BERA exchanging STGUSDC), minting the stablecoin HONEY, participating in liquidity mining, and lending protocols.
Since the launch of the second testnet v2 Bartio in June 2024, the number of Berachain addresses has skyrocketed from 6.4 million to 240 million, with a peak of 7 million daily active addresses, attracting over 270 ecosystem projects to participate.
According to the NFT task completion on platforms like Galxe, it is estimated that testnet contributors will receive 2%-5% of the total token supply, and early NFT holders (such as the Bong Bears series) may enjoy higher weights.
Ecosystem Outlook
The core competitiveness of the Berachain mainnet lies in its Proof-of-Liquidity (PoL) consensus mechanism and three-token economic model (BERA, HONEY, BGT, etc.). BGT is the core token of the Berachain ecosystem, mainly used to incentivize liquidity providers and validators. Users can earn BGT by providing liquidity in Berachain's native DeFi applications. BERA and HONEY respectively undertake the functions of network transaction fees and stablecoins, ensuring the diversity and practicality of the ecosystem. The PoL mechanism closely combines liquidity provision and network validation, avoiding the problem of liquidity dispersion in traditional PoS networks. Validators have the right to vote on the distribution of rewards for liquidity pools, further enhancing the incentives for liquidity providers.
In the ecosystem, liquidity providers can obtain BGT token rewards by providing liquidity to the protocols within the ecosystem. Validators can participate in network validation by staking BGT tokens, and receive block rewards and transaction fee sharing. Applications built on the Berachain network can also increase the reward for their liquidity pools by incentivizing liquidity providers.
Kodiak, as the native DEX of Berachain, supports not only Uniswap V3-style concentrated liquidity (CLAMM), but also developed the "Island" feature, which optimizes returns by dynamically adjusting the liquidity range, and standardizes LP tokens to be compatible with other protocols (such as Infrared's liquid staking). Users can obtain BGT rewards by providing liquidity in the CLAMM pool, and can also delegate BGT to the validator nodes operated by Kodiak, forming a compound strategy of liquidity mining and governance rewards. The project has accumulated over 100,000 interactions in the testnet phase and will launch the "Panda Factory" no-code token issuance tool to further lower the project startup threshold.
Dolomite, as the lending protocol on Berachain, allows users to pledge BGT as collateral to leverage their liquidity mining rewards up to 5 times, while also allowing users to hedge market volatility risks while amplifying returns, forming a sustainable leveraged mining ecosystem. The platform will also distribute 20% of the DOLO tokens through airdrops to long-term borrowers and community contributors, combined with the veDOLO lock-up mechanism to enhance governance participation.
Infrared Finance, as the liquid staking protocol on Berachain, allows users to convert BGT into tradable iBGT tokens, which can be staked to obtain node rewards or invested in other DeFi protocols (such as Kodiak's iBGT/BERA pool), realizing the liquidity release and yield stacking of BGT. As the protocol with the highest BGT delegation in the testnet, Infrared repurchases and burns the governance token IRED through node operation income, forming a deflationary model.
Berps (Berachain Perpetuals), as the native perpetual contract platform, uses the HONEY stablecoin as margin, combined with the deep liquidity of BEX under the PoL mechanism, reduces trading friction through a dynamic price oracle, and supports up to 100x leverage. The project also adopts batch order processing (Batch-A2MM) and off-chain matching solutions to avoid sandwich attacks and improve the trading experience for retail users.
Honeypot Finance, as the core DeFi protocol of Berachain, provides full-cycle token services. The project includes three sub-protocols:
Henlo DEX: An anti-MEV DEX that supports limit orders and batch trading, reducing slippage by aggregating liquidity. Dreampad: A Launchpad with a fair token offering (FTO) model, where 100% of the project tokens are sold to the market with no team reservations. Pot2Pump: A Meme coin issuance platform with anti-bot mechanisms, supporting a 24-hour refund mechanism to reduce fraud risks.
The project repurchases and burns HPOT tokens through node operation income, while also distributing rewards to BGT delegators, forming a governance flywheel and value capture loop.
Conclusion
Berachain has reconstructed the alliance of interests between validators, developers, and users through the Proof-of-Liquidity mechanism, and its economic model directly links on-chain activities with token value. After the mainnet launch, if core protocols like Boyco can continue to attract external capital, Berachain may become the first public chain to realize "liquidity is security", injecting a new narrative into the Layer 1 track. However, challenges also exist - how to balance the concentration risk of BGT governance rights and maintain the stability of HONEY will be key to the long-term health of the ecosystem.
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