The market is declining, and it is possible that many people lost all their funds in June and July, which is quite normal. Less than 10% of people in the secondary market can make money, and this proportion may shrink further.
For example, in the airdrop field, which is the best way to make money, the reputation has plummeted after May, and several large projects have turned against it. Recently, FUEL has even introduced a "Before the mainnet goes live, only the assets left on the network count as points. If they are transferred out, the points will be reset to 0" rogue rule.
So if we want to participate in airdrops, we should focus on projects with high certainty, such as the ones below:
Many of the projects above are basically open airdrops, where participation guarantees some rewards.
So today, let's start from scratch with the Berachain project and learn how to participate in airdrops in the second half of 2024.
I. About Berachain
Berachain is a redesigned L1 that uses the god-mode PoL consensus mechanism to solve the problem of liquidity flooding on L1. It allows for the pledging of various assets (BERA, ETH, BTC, stablecoins, etc.) to validators. At the same time, these pledged assets are used to provide liquidity for the native virtualized AMM on the chain.
Three-token model of Berachain
Berachain has a triple-token system consisting of BERA, HONEY, and BGT;
- $BERA — Gas fee token (+ condition for becoming a validator)
- $BGT — Governance (and reward) token, which cannot be transferred or purchased and can only be converted unidirectionally to BERA;
- $HONEY — Native stablecoin, which will always be pegged to 1 USD.
Consider $BERA as the SOL/ETH of Berachain, and it can be purchased on exchanges.
About financing
Berachain has raised $142 million from Polychain Capital, HashKey Capital, Shima Capital, Framework Ventures, and others, with a valuation of $420 million.
Current progress
- Artio B1 testnet, already completed
- Bartio B2 testnet, just started
The B1 testnet of ARTIO and BARTIO Berachain (referred to as Artio) is built on Polaris, integrating the EVM execution layer closely with the Cosmos consensus. This architecture has limitations in handling high transaction volume and user participation.
In B2, validators run the BeaconKit client to reach consensus and run the EVM execution client to achieve specialization and improve performance. The economic design has also been updated to use $BERA for staking to activate validators, thereby enhancing security and practicality.
There are already hundreds of projects that can interact on the bear chain:
II. Precautions before interacting with B2
The interaction with the B2 testnet is similar to B1, with slight changes in the main dApp.
Now, use the B2 test tokens obtained from the old faucet instead of the B1 test tokens.
(1) Wallets for interaction
- Available wallets: MetaMask or Rabby Wallet
- MetaMask private keys can be imported into Rabby Wallet
(2) Adding the Berachain-Bartio chain to the wallet (optional)
· Network name: Berachain-Bartio
· RPC URL: https://bartio.rpc.berachain.com/
· Chain ID: 80084
· Currency symbol: BERA
· Block explorer URL: https://bartio.beratrail.io
(3) Claiming testnet tokens
- Related link: https://bartio.faucet.berachain.com/#dapps
- Enter address
- Click "Drip Tokens" to claim 1 BERA test token (remember to claim every 8 hours, the more test tokens, the better).
(4) Other faucet channels
(1) 0xhoneyjar, where you can claim 0.01 BERA for free (every 12 hours);
Related link: https://faucet.0xhoneyjar.xyz/
(2) bricksmint, spend about 1U of ETH to mint an NFT, and then claim 1 BERA;
Related link: https://bricksmint.com/bera-faucet
III. Specific Interaction Tutorial
(1) SWAP
- Related link: https://bartio.bex.berachain.com/swap
- Exchange $BERA for $STGUSDC (do not exceed 30% of the BERA balance)
- If the transaction fails, try again (the price of BERA fluctuates, so the amount of STGUSDC exchanged also varies)
(2) Honey
- Related link: https://bartio.honey.berachain.com/
- Click MAX
- Click Approve $STGUSDC
- MINT
(3) Farm BGT
- Related link: https://bartio.bex.berachain.com/pools
- Select $WBERA / $HONEY pool
- Click Preview
- Approve HONEY
- Add Liquidity
- Note: If an error occurs, liquidity may have already been added
- Go to MY POOL to see the pool you added
- Open your BERA / $HONEY pool to claim BGT rewards
(4) Lending (Do this step when you have enough BERA)
Step 1: Exchange a small amount of BTC
- Related link: https://bartio.bex.berachain.com/swap
Step 2: Pledge BTC and borrow $HONEY
(5) Contract Interaction (Skip if you don't have enough tokens)
This step requires $HONEY, which can be obtained in two ways:
Exchange BERA directly for $HONEY in SWAP,
The method from step four, pledge BTC or ETH and borrow $HONEY.
Once you have $HONEY, continue with the following:
- Go to the contract page: https://bartio.berps.berachain.com/berpetuals
- Participate in long or short positions
(6) Validator Voting
A few hours after adding liquidity as mentioned above, you can receive $BTG tokens (claim them in section "Three" above).
- Related link: https://bartio.station.berachain.com/validators
- Choose a validator
- Click "Delegate"
- Enter the amount
- Confirm the transaction
The above is the complete tutorial for today. It's best to repeat all operations every few days. The second round of the Berachain testnet has just begun, and there will be benefits to interacting more.
There are hundreds of projects on Berachain, and interacting with other projects can bring multiple benefits. I will continue to update them after organizing.
You can operate multiple accounts for each airdrop. Currently, the multi-account tool I use is: MorLogin fingerprint browser, which has been tested and is very secure:
https://www.morelogin.com/?from=AANvwSB8onX4
As for the most concerning wallet plugin, MoreLogin has implemented multiple layers of encryption. Even if someone with malicious intent intrudes into your computer and takes away the wallet plugin file, they cannot crack it. This is what I have been using, and other browsers with Chrome kernel data are not encrypted.
The multi-account tutorial is as follows: https://link.medium.com/wlgncgvnkLb
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