What is Berachain
Berachain is a Layer1 blockchain within the Cosmos ecosystem, utilizing the Polaris VM and introducing a novel consensus mechanism known as Proof of Liquidity.
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Berachain

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Steps for Berachain Testnet:
  1. Manually add the Berachain network to Metamask using the settings outlined in the Berachain documentation.

  2. Claim Berachain tokens.

  3. Swap some BERA tokens for STGUSDC on Artio.

  4. Mint HONEY tokens.

  5. Provide liquidity by adding to the pool in 50STGUSDC-50HONEY.

  6. Swap some BERA for WBTC.

  7. Deposit BTC into the pool and borrow HONEY.

  8. Deposit a portion of HONEY into the Vault.

  9. Engage with futures.

  10. Stake BTG.

  11. Accomplish tasks on Galxe.

What about Berachain ecosystem?
Despite the network not being operational at this point, the ecosystem has already attracted nearly a hundred projects:
1. Decentralized Exchanges (DEX): Beradrome, BeraSwap, CrocSwap;
2. Perpetual Contracts: Avocado Finance;
3. Options: B2Options;
4. Liquidity-Providing Stablecoins (LSD): Artio;
5. Community Projects: Bera Land;
6. Infrastructure Initiatives: Beranames, BeraNodes.
Another aspect of the ecosystem that demands attention is Honey Jar, an NFT project created by the community, which has introduced multiple collections. NFT holders have the potential to receive airdrops, enhanced returns, and various ecosystem-related rewards. There's even a competitive atmosphere emerging around the limited supply of these NFTs, with MijaniDao, for example, positioning itself as a counterpart to Convex within the Honey Jar context.

Berachain Guide


What is Berachain?


Berachain is a Layer1 blockchain within the Cosmos ecosystem, utilizing the Polaris VM and introducing a novel consensus mechanism known as Proof of Liquidity. This blockchain functions by having users stake blue-chip assets such as BTC, ETH, and stablecoins, which are then delegated within the Proof of Stake (POS) consensus system.


What about investors?


Berachain recently secured $42 million in its latest Series A funding round, with a valuation of $420.69 million. Polychain took the lead in this funding round, and notable investors in the project include Hack VC, dao5, Tribe Capital, Shima Capital, CitizenX, Robot Ventures, as well as a number of well-known angel investors, including the Coinlist founder.


Tokenometric in Berachain:


Berachain has a token system that consists of three tokens:

1. BERA for gas;

2. HONEY as a stablecoin;

3. BGT for governance.

This structure allows active users of the blockchain to maintain their governance influence while covering gas expenses.

BERA tokens are obtained by staking ETH, BTC, or stablecoins and are then staked again to earn BGT tokens. BGT, in addition to its governance function, offers the opportunity to generate returns in HONEY, a stablecoin backed by more collateral than needed. This is done by providing liquidity alongside the staked blue-chip assets. Perpetual swaps are employed to hedge against impermanent loss (IL), which is the basis for the Proof of Liquidity mechanism.

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