What can I play on Berachain? Learn about popular ecological projects in one article

Author: Berachain

Compiled by: TechFlow

Finally here.

After two years of waiting, Berachain's Mainnet launch was released last Thursday, and Beras has been cooking. There are a lot to do, and it's hard to get a full look at what's going on on any chain - but this post will give you a full look at almost everything you can do on Berachain right now.

Berachain itself does not need to be introduced, but its consensus mechanism -Proof-of-Liquidity (PoL, proof of liquidity), is the core of promoting Berachain's economic innovation. Initially, when the idea of ​​this new consensus mechanism was proposed, Berachain was just a community, not an L1. But now the situation is very different. After attracting more than $3 billion in deposits through the Boyco program, Berachain has officially launched, starting to produce blocks and attracting a large number of dApps and users.

This blog usually focuses on Berachain's fundamentals to explore its future potential, and this time it will explore the actual ecology on the chain from a realistic perspective. Let's get started!

Explore Berachain's DeFi ecosystem

First, we start with an overview of the DeFi ecosystem at Berachain. Much of the functionality of this ecosystem relies on assets deposited through Boyco, and the dApp team is working to launch new strategies and on-chain capabilities.

According to DefiLlama, Berachain's total lockout (TVL) is slightly higher than $1.9 billion, but that does not include all Boyco assets. Captain Jack Bearow wrote an excellent summary of Boyco's market operations and the flow of these assets, which you can read here.

Let’s briefly explain how Boyco works, and then we will enter the main network dynamics.

Boyco plans to select 12 applications and more than 20 asset issuers. Boyco assets are divided into three categories: major assets, third-party assets and mixed assets. Depending on the asset class, different multiples and deadlines are applied, and each team submitted application scripts to explain where these assets will be used after they are online on the main network.

Judging from Berachain's TVL data, it is not only evenly distributed among dApps, but also very healthy distribution between pools, assets and strategies. Next, we will list some activities on the chain and focus on some specific strategies and pools to show their possibilities.

Starting with BeraHub, we can see how PoL magic works.

Once you open the website, you will see several different tabs, but let's start with liquidity pools. TVL's top five liquidity pools allow you to deposit HONEY or WBERA, and paired assets include BYUSD, USDC.e, WETH and WBTC, depending on your risk preference.

These liquidity-providing (LP) voucher tokens can be used to stake in reward vaults, the main way to earn BGT rewards on Berachain. Currently, there are five reward vaults—corresponding to these five liquidity pools—that have been approved and opened to deposits by the whitelist, with each vault having different BGT capture and annualized rate of return (APR).

As of this writing, Kodiak’s TVL has exceeded $690 million – so where does that funding come from? How do LP users take advantage of Kodiak's infrastructure?

If we look at the top 10 liquidity pools in TVL, we can see that Kodiak has quite deep liquidity in multiple trading pairs distributed among the three categories of assets mentioned above. Among these trading pairs, WETH pairings account for three of the top five, with the rest including STONE, WBTC, HONEY and beraETH.

Boyco plans to deposit more than $375 million in WETH, most of which is now deployed on the Berachain mainnet.

Not only does Kodiak provide rewards for depositing more standardized assets, it also launched sweetened islands, designed specifically for BERA/HONEY, BERA/WETH and YEET/BERA pairings, with an annualized rate of return of up to three. number. Whatever your needs, Kodiak can meet, with assets growing to over $1.1 billion and continues to launch new features and farms, such as WBTC/BERA’s “Sweet Island”, integration with Zapper, and Berachain’s new eco-token Continuously launched.

D2 Finance currently offers some unique strategies for Berachain, such as Hyperbera.usdc, Hyperbera.Weeth, Kodiak++, Dgnberaland and Hyperbera. At the time of writing, the protocol’s TVL has exceeded $10 million and has been working to provide differentiated products that leverage the wider Berachain ecosystem.

D2 recently wrote about their ideas around Berachain and Pol, but the team wanted to put tokenized derivative strategies on Berachain that not only provide attractive benefits but also benefit from Pol's reflective and incentive structures. . If you want to passive farm BGT rewards with a range of actively managed strategies, D2 may be the ideal destination for you.

Ooga Booga is a native liquid aggregator that has completed nearly $200 million in transaction volume since its launch. These transaction volumes come from a variety of tokens, mainly including BERA, HONEY and USDC.e.

In addition to trading volume, Ooga Booga is also constantly launching new tokens and allowing users to trade assets on multiple DEXs, providing a simple user experience while continuing to launch new partnerships and integrations.

In addition to trading volume, Ooga Booga is also constantly launching new tokens and allowing users to trade assets on multiple DEXs, providing a simple user experience while continuing to launch new partnerships and integrations.

The Dolomite agreement has attracted nearly $1 billion in assets to the platform, of which more than $32 million have been loaned. Dolomite is building a money market and margin trading protocol to serve Berachain and those who want to make the most of its assets.

Infrared is the key for users who want to stake BGT or BERA.

The platform is a user-friendly liquid staking solution focused on PoL. Infrared has attracted more than 180 million BERA through which users can stake BERA and obtain iBERA, a liquidity token (ERC-20) supported by BERA 1:1. The deposited BERA tokens are pledged through Infrared's validator network, and users can receive pledge rewards without any action.

A major advantage of liquid staking tokens is not only the easy staking benefits, but also its additional capital efficiency. In the Berachain ecosystem, you can use iBERA to provide liquidity, borrow or as collateral without giving up the pledge reward. Infrared will also launch iBGT, a liquidity variant of its BGT for users who want to maximize PoL rewards, and more information can be read here.

If you want to maximize your exposure to the Berachain ecosystem, you can deposit it into Yeet’s liquidity Trifecta Vault (more on here).

One introduction to the long-lasting version is that Yeet has partnered with Beradrome and Kodiak to release a very friendly automatic income product that allows depositors to earn mining gains and re-add them to their Yeet/Bera LP positions.

Instead of manually providing liquidity, pledging credential tokens to Beradrome and routing through Kodiak's YEET/BERA "sweet island", users can now do all of these directly through Yeet without going through tedious steps. If you want, you can even extract the LP voucher tokens from the liquidity trifecta vault for other purposes, with the right to choose in your hands.

Beradrome officially launched on February 9 with the goal of becoming the preferred liquidity market for any earnings assets on Berachain. Although its structure is quite complex (you can see detailed instructions in their documentation), this does not prevent community users from depositing assets and turning on the flywheel effect.

Beradrome's architecture is inspired by observations of the Solidly model and attempts to optimize it. With the underlying operation of PoL, Beradrome is able to build deeper liquidity through reward vaults and earnings tokens. If this dApp continues to grow, users will be more motivated to participate in BERO, hiBERO and oBERO, thereby taking advantage of Beradrome and PoL at the same time.

Last but not least, Smilee Finance has launched gBERA, a unique liquid staking token designed to automatically re-benchmark and cumulative rewards through Berachain validators. Unlike other liquid staking tokens such as iBERA, gBERA is unique in that it can automate the reward collection process and re-roll the reward into BERA without additional operations from users. The team plans to launch more integration features in the coming weeks, allowing users to wrap gBERA and use it in a variety of applications in the ecosystem.

GameFi, SocialFi and MemeFi on Berachain

If DeFi is not your interest, it doesn't matter.

Berachain is not just another DeFi chain, its ecosystem has shown considerable diversity even after the mainnet is online just one week later.

Maybe you just want to bridge to Berachain, then take a break, avoid dApps for the time being, and plan your next move. If so, you might as well take a look at bera.tv. The team described it as “the first AI-generated TV show across dimensions” and aired only on Berachain. If you like to watch two AI Bear News anchors discussing various topics, then you are in the right place.

If you want to bet but are not interested in sports? Over/Under is online on the main network, allowing you to bet on live video games in real time, and you can also set up multiple-level series (parlays). Streaming has become one of the most popular ways to get viewers, and the data won’t lie – more than 7 million independent anchors used Twitch last year, with an average of 2 million online viewers at the same time.

If cryptocurrencies want to break through their circles and start attracting more users, catering to their interests is an important path to potential success. Over/Under wants to be the preferred center of anchors and speculators, and is limited to Berachain only.

Memeswap is designed to create a top destination for memecoin traders, providing a pump dot fun-like experience, but designed for the Berachain community. If you want to take advantage of the increasingly active activities on the chain but don’t want to buy tokens directly, you can stake your BERA through Memeswap to provide rental liquidity for new token issuances and earn profits.

For users who want to actually trade tokens, they can use Memeswap to track the deployment of new tokens, recent bindings, and other details to keep things up to date. Memeswap has completed over 370,000 BERA trading volumes and integrates with Infrared, Ooga Booga and other teams to provide a seamless experience for all types of traders.

Shogun is building a platform that makes it easier for users to go on the link through gun.fun. Users can transfer assets from any chain to Berachain with just one click. The team went live on February 11, and Shogun allowed anyone to send assets to Berachain from non-EVM chains, even if Berachain is an EVM equivalent chain.

Honey Chat is a native Berachain social networking application designed to redefine social dynamics through on-chain mechanisms. Once a user registers and connects to their existing X account, he can access a network whose social reputation is truly important, which is governed through tokens.

Promote Liquidity Proof (PoL)

Speaking of this, we can talk about PoL, although it has not officially launched yet.

Instead of waiting for PoL to be activated, take the initiative to think about how PoL integrates with existing on-chain liquidity and how you can take advantage of it. Whether you switch between different dApps based on the rewards plan or choose to stay true to one or two dApps, it is valuable to consider these issues in advance.

It was mentioned earlier that there are currently only five whitelist reward vaults - what will happen once more agreements start applying for a whitelist process? Currently, the capture rate distribution of BGT is still relatively balanced, but this situation is likely not to last for too long. For more information on how the reward vault actually works, you can view the documentation.

Berachain’s token economics aims to promote a healthy balance between on-chain behavior, separating gas tokens from governance tokens for good reasons. Unlike BERA supply that releases 10% each year, users and dApps can obtain BGT, which has completely different unit dynamics and game theory.

To put it simply, there are currently some opportunities on the chain, such as Infrared's iBGT, which currently provides a good annualized rate of return (even stablecoin returns).

When PoL is activated and officially launched, those who work early will pay off for their patience and diligence, while others need to catch up to see why Berachain is so different from PoS chains.

At present, this article should have provided you with enough thinking and action directions, but there are still many things that cannot be covered. If you want to keep up to date with Berachain’s latest updates, you can start with the Foundation’s X Account and Eco pages, which will be updated as more teams go online to the main network.

Thanks for reading, Beras.