BeraChain is a layer 1 platform compatible with EVM ( Ethereum Virtual Machine ) and DeFi centralized. It will be a high-performance, scalable, EVM compatible, and cross-chain interoperability smart contract platform.
Berachain is currently deployed on Cosmos-SDK and uses its native consensus mechanism Tendermint.
Instead of building from scratch, Berachain is leveraging existing middleware and third-party projects to build on.
Tendermint is a trusted, high-performance consensus mechanism, and most importantly, the most secure implementation of the Byzantine Fault Tolerant (BFT) consensus. As of today, over $150 billion in on-chain secured assets are based on Tendermint and it is one of the most tested and production-ready consensus frameworks on the market.
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Proof-of-Liquidity is a term created by the development team of Berachain. It allows users to stake assets such as ETH, BTC and stablecoins for the validator.
Staking is done in the protocol's native token. The Cosmos system makes it easier to build a “communication center” (tokens from different chains that trade with each other) for multiple blockchains. If you have ever used THORChain , you will understand.
Berachain's Proof-of-Liquidity allows users to stake from a range of tokens and then delegate those staked tokens to the validator to participate in DPoS.
On Berachain, it is not necessary to stake the protocol's native token. All you have to do is have some liquidity.
The weight and priority will go to the more prominent tokens first, like BTC, ETH, and USDC.
Before we go any further, here are the native tokens of Berachain.
More details on Berachain's tokenomics are still being developed in the project's litepaper.
As you may already know, staking tokens into the platform helps to secure the protocol.
In Berachain, staked assets are deposited into vaults and used for profit. This is possible through the LP token in the Berachain DEX, which provides a lending market, helping to stabilize the peg for the native stablecoin HONEY….
You can also use your staked assets for many of the things you would expect in the DeFi protocol. Example: You can use your staked assets as collateral to mint HONEY, then you can use them in other ways:
Now we will learn about some good projects on Berachain.
What to do with these projects.
This will give us more chances to receive airdrops or whitelist these projects when they launch tokens or other events.
This is the first decentralized exchange built on BeraChain.
However, the website of this project has not appeared yet.
Twitter : https://twitter.com/honeypotfinance
CrocSwap is a single contract decentralized exchange that combines centralized liquidity with low gas fees.
Twitter : https://twitter.com/CrocSwap
Discord : https://discord.gg/e6QGx8Ca
Website: crocswap.com
BeraCreek Finance is the first Money Market on Berachain
Twitter: https://twitter.com/BeraCreek
Website: https://beracreek.com/
Beramuda Finance is a platform that integrates governance and optimizes profits for the Bera ecosystem.
Twitter: https://twitter.com/BeramudaFinance
Grizzli Finance is an unattended stablecoin swap exchange. You will be able to swap between tokens like USDC, DAI…
Twitter: https://twitter.com/Grizzli_Finance
Abacus is a revolutionary NFT pricing system that combines optimistic rollups and proof-of-stake logic.
Twitter: https://twitter.com/abacus_wtf
Discord: https://discord.gg/abacus
GumBall Protocol is a DeFi hub and provides liquidity for NFT allowing users to buy, sell and stake instantly on Berachain. Coming soon on Ethereum, Arbitrum, Optimism & BeraChain.
Twitter: https://twitter.com/GumBallProtocol
Website: gumball.fi
dAMM Finance is a decentralized lending platform for any token with an algorithmically determined interest rate.
Twitter: https://twitter.com/dammfinance
Discord: https://discord.gg/3hUsZZAr
The first currency market and liquid staking solution on BeraChain.
Twitter: https://twitter.com/artio_finance
And above is a glimpse of a brand new Berachain. It is still quite early for us to judge if this is a good chain or a new trend in the market? TraderH4 team will continue to post more information about Berachain.
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