Author: defioasis

Recently, Berachain, the star blockchain, has been frequently active, first collaborating with the Binance Web 3 Wallet for an NFT event, and then collecting RFB reward applications from ecosystem projects, all seemingly signaling that Berachain's TGE date is nearing. Many star blockchains often become "ghost chains" after their TGE due to liquidity withdrawal by mercenary investors and "deal-hunter", but Berachain's innovative Proof of Liquidity consensus mechanism aims to tackle this issue. Since its inception, this concept has garnered significant community attention and subsequently attracted capital, securing $140 million in funding from multiple institutions.

With the Berachain mainnet launch imminent, its ecosystem projects are also gearing up. This article will briefly overview some native projects within its ecosystem worth paying attention to.

Before exploring Berachain, it's essential to understand the 3 Token model:

① Token BERA: Primarily used for on-chain gas fees and staking to activate validator nodes.

② Token BGT: Mainly used for governance, this token is soulbound to the holding account and non-transferable. Users can currently obtain BGT by providing liquidity on Bex, lending Honey on Bend, or supplying Honey in Berps' Vaults, among other methods.

③ Token HONEY: A fully collateralized stablecoin on Berachain pegged to the US dollar.

DeFi

Goldilocks

Goldilocks is a DeFi and NFTfi infrastructure built on Berachain. According to Rootdata, this project completed a $1.5 million funding round in August this year, led by Hack VC and Shima Capital.

The protocol primarily consists of Goldiswap and Goldilend. Goldiswap provides basic trading functions with a custom AMM centered around its governance token, LOCKS. This AMM comprises the FSL (floor supporting liquidity pool) and the PSL (price supporting liquidity pool). Goldilend is Goldilocks' NFT lending platform, which operates around the Bong Bear NFT series. Its innovation lies in determining a reasonable floor price for NFTs through voting by holders of the governance token LOCKS, instead of relying on oracle price feeds.

Honeypot Finance

Honeypot Finance has previously completed its seed rounds and a strategic funding round, raising a total of $1.3 million.

The platform primarily consists of DreamPad and HenloDEX. DreamPad is Honeypot Finance's launchpad, employing the FTO (Fair Token Offering) model where project teams do not reserve tokens for themselves, offering 100% of the tokens to the market, allowing for immediate trading post-launch. HenloDEX is Honeypot Finance's built-in DEX, offering limit order functionality. According to the Honeypot Finance whitepaper, it uses the Batch-A2MM mechanism to counter sandwich attacks and reduce slippage.

The Genesis NFT collection, HoneyGenesis, was launched on Arbitrum earlier this year with a total supply of 6,000 units. The current floor price is approximately 0.1 ETH.

Kodiak

Kodiak serves as the native liquidity center for Berachain. Its testnet has launched with Swap, LP, and staking platforms for the Token KDK, having already completed over 100,000 interactions and more than 10,000 trades. Kodiak offers a solution to BEX's lack of concentrated liquidity by introducing an automated liquidity management system called "Islands". Users on Kodiak experience something akin to Uniswap V3, where they set their liquidity provision range. Once users deposit their funds into pools, Kodiak dynamically adjusts to maintain the optimal price range. Additionally, Kodiak plans to introduce the Panda Factory feature, which will allow users to deploy tokens without needing to learn coding.

Ooga Booga

Ooga Booga is the native DEX aggregator on Berachain, currently aggregating liquidity from over 10 sources including BEX, Beradrome, Honeypot, Izumi, among others, with plans to include sources like Twin Finance, HoneyFlow, and Velocimeter in the future. Its distinctive feature lies in employing a zaps solution to streamline the token approval process, reducing transaction friction for users. Ooga Booga only charges a transaction fee when both BEX and Kodiak's quotes are at least 0.15% lower. The testnet for Ooga Booga has already launched its Swap function and staking for its protocol token, OOGA.

Gummi

Gummi is a leverage trading platform for the crypto money market and claims to be the first modular money market on Berachain, aiming to be the leading lending and leverage protocol. Gummi supports various asset formats including ERC-20, ERC-721, and LP Tokens. Lenders can, without permission, use assets like Infrared's iBGT, Kodiak's islands, etc., on Berachain to create isolated lending pools to segregate risk. Lenders can customize their risk management for loans, and users can borrow assets with up to a 99% LTV (Loan-to-Value). Furthermore, Gummi allows users to hold positions with up to 100x leverage. Gummi has previously completed a $2 million seed funding round, and currently, users need to apply to join the waitlist to participate in Gummi's testnet.

Infrared

Infrared Finance is a liquidity staking protocol on Berachain, developed under the Build-a-Bera incubator program, and has completed a $2.5 million seed round. Infrared simplifies the process for users to acquire BGT and BERA, addressing the liquidity shortage and fragmented distribution issues of Berachain's governance token BGT. Users can convert BGT to iBGT at a 1:1 ratio; while iBGT cannot be converted back to BGT, it can be used in Infrared's vaults or in various other Berachain ecosystem projects like lending and DEXes for additional yield farming.

IVX

IVX is a native liquidity options protocol built on Berachain, having secured $1.2 million in seed funding led by Animoca. The testnet currently supports trading for assets like BTC, ETH, SOL, and Doge. Besides regular options trading, IVX allows users to trade contracts that expire within 24 hours (0DTE options) and supports up to 200x leverage.

NFT-related

Bong Bears

The Bong Bears NFT series was created by the founders of Berachain in August 2021, with a total supply of 100 units. The Bong Bears NFT series is a type of Rebase NFT, where holders of the previous generation NFT receive an airdrop of the next generation NFT. The series had its first Rebase where Bong Bears holders received an airdrop of the Bond Bears series. After multiple Rebases, there are now five NFT series: Bond Bears, Boo Bears, Baby Bears, Band Bears, and Bit Bears.

Due to its deep ties with Berachain, the Bong Bears series is expected to yield rewards through airdrops. The current floor price for this NFT series has reached 112 ETH. The floor prices for the Rebase NFT collection range from the lowest at 2.8 ETH to the highest at 27.5 ETH.

Honey Comb

The Honey Jar is the largest unofficial community of Berachain, focusing on incubating ecosystem projects, community education, and various other activities. Honeycomb is a benefits aggregator for the Berachain ecosystem community created by The Honey Jar, simplifying the process for the community to access benefits. Holding a Honey Comb NFT is one of the ways to obtain these benefits, with holders being eligible for airdrops, whitelists, discounts on purchases, and more from The Honey Jar's partners.

Beramarket

Beramarket is one of the NFT marketplaces on Berachain, where users can engage in basic buying and selling of NFTs. It is currently in a closed beta testing phase. The project introduces the concept of Liquid-Backed NFTs, which combines NFTs with DeFi by backing NFTs with Beramarket's treasury to maintain market liquidity. This solution aims to protect NFTs against extreme market conditions with collateral, reducing extreme fluctuations in NFT floor prices.

Gamefi

Yeet

Yeet is a game on Berachain with gameplay leaning towards a Ponzi scheme. Players participate by placing Token Bera into the Yeet prize pool. Each time a player adds Bera to the pool, the countdown timer resets. When the countdown reaches zero, the last player to enter wins the majority of the Bera in the pool. Players who are not the last to enter can still earn Token Yeet rewards by participating in the game or by providing liquidity (LP) or by staking Token Yeet to receive pool rewards. Additionally, Yeet has issued the Yeetard NFTs series with a total supply of 5,459 units, and the current floor price is 0.15 ETH.

BeraTone

BeraTone is a multiplayer life simulation game that has received support from the Build-a-Bera incubator program. In this game, players engage in farming, fishing, and other pastoral activities with bears as the main characters. The game is currently not available for public testing. BeraTone has introduced the BeraTone Founder's Sailcloth NFT series, which offers holders future airdrops, in-game items, and other benefits. The total supply of this NFT series is 886 units, with the current floor price at 0.5 ETH.

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