This article will briefly review some native projects in its ecosystem that are worth paying attention to.
Written by: defioasis
Edited by: Colin Wu
Recently, Berachain, a star public chain, has been very active, first collaborating with Binance Web 3 Wallet to hold an NFT event, and then collecting RFB reward applications from ecological project parties, all seemingly indicating that the TGE date for Berachain is approaching. Many star public chains have become ghost chains after TGE due to the exit of liquidity by yield farmers, but Berachain's Proof of Liquidity, a new consensus mechanism, attempts to solve this dilemma. This concept has attracted significant community attention since its inception and has subsequently gained favor from capital, currently securing $140 million in funding from multiple institutions.
With the mainnet launch of Berachain imminent, its ecological projects are also gearing up. This article will briefly review some native projects in its ecosystem that are worth paying attention to.
Before exploring Berachain, it is essential to understand the 3 Token model.
Token BERA, primarily used for on-chain gas and activating validator node staking.
Token BGT, mainly used for governance. This token is soul-bound to the holding account and is non-transferable. Users can currently obtain BGT through: providing liquidity on Bex, lending Honey on Bend, and supplying Honey in Berps' Vault.
Token HONEY, a fully collateralized stablecoin pegged to the US dollar on Berachain.
DeFi
Goldilocks
Goldilocks is a DeFi and NFTfi infrastructure based on Berachain. According to Rootdata, the project completed a $1.5 million funding round led by Hack VC and Shima Capital in August this year.
The protocol mainly consists of Goldiswap and Goldilend. Goldiswap provides basic trading functions, centered around its governance token LOCKS with a customized AMM, which consists of FSL (supporting liquidity pool) and PSL (the price supporting liquidity pool). Goldilend is Goldilocks' NFT lending platform, focusing on the Bong Bear NFT series. Its innovation lies in determining the reasonable minimum valuation of NFTs through votes from governance token LOCKS holders, without relying on oracle price feeds.
Honeypot Finance
Honeypot Finance has previously completed seed, seed, and strategic funding rounds, raising a total of $1.3 million.
The platform mainly consists of DreamPad and HenloDEX. DreamPad is Honeypot Finance's launchpad, using the FTO (Fair Token Offering) issuance model, where no tokens are reserved for the project party, providing 100% of tokens to the market, allowing users to trade immediately after the sale. HenloDEX is Honeypot Finance's built-in DEX, offering limit order functionality. According to the Honeypot Finance whitepaper, Honeypot Finance employs the Batch-A2MM mechanism to resist sandwich attacks and reduce slippage.
The Genesis NFT HoneyGenesis was launched earlier this year on Arbitrum, with a total of 6,000 pieces, and the current floor price is about 0.1E.
Kodiak
Kodiak is Berachain's native liquidity hub, with the testnet already online for Swap, LP, and staking platform Token KDK, currently completing over 100,000 interactions and more than 10,000 transactions. Kodiak provides a solution for BEX's lack of centralized liquidity, proposing an automated liquidity management system—Islands. Users experience a Uniswap V3-like experience on Kodiak, setting their own liquidity provision range. When users deposit funds into the pool, Kodiak dynamically adjusts to maintain the optimal price range. Additionally, Kodiak will launch the Panda Factory feature in the future, allowing users to deploy tokens without needing to learn code.
Ooga Booga
Ooga Booga is a native DEX aggregator on Berachain, currently aggregating over 10 liquidity sources, including BEX, Beradrome, Honeypot, and Izumi, with plans to add Twin Finance, HoneyFlow, Velocimeter, and more in the future. The protocol's feature lies in using zaps to simplify the token approval process, reducing user transaction friction. Ooga Booga charges transaction fees only when both Bex and Kodiak's quotes are lower by at least 0.15%. The Ooga Booga testnet currently has Swap and protocol Token OOGA Stake functionalities online.
Gummi
Gummi is a leveraged trading platform for currency markets, also claiming to be the first modular currency market on Berachain, aiming to become a leading lending and leverage protocol on Berachain. Gummi supports various asset formats, including ERC-20, ERC-721, and LP Tokens. Lenders can use assets like Infrared's iBGT and Kodiak's island on Gummi to establish isolated lending pools without permission, isolating risk. Lenders can customize their lending risk management, allowing users to borrow assets with up to 99% LTV, and Gummi also allows users to hold positions with up to 100x leverage. Gummi has previously completed a $2 million seed funding round, and current users need to apply to join the waiting list for the Gummi testnet.
Infrared
Infrared Finance is a liquidity staking protocol based on Berachain, developed under the Build-a-Bera incubator program, having completed a $2.5 million seed round. Infrared simplifies the process for users to obtain BGT and BERA, addressing the liquidity shortage and fragmented distribution of Berachain's governance token BGT. Users can exchange BGT for iBGT at a 1:1 ratio; iBGT cannot be converted back to BGT but can be used in Infrared's treasury or in other DeFi farming across various Berachain ecosystem projects to earn more yields.
IVX
IVX is a native liquidity options protocol built on Berachain, having raised $1.2 million in a seed round led by Animoca. The current testnet supports trading of four assets: BTC, ETH, SOL, and Doge. In addition to regular options trading, IVX allows users to trade contracts that expire within 24 hours (0DTE), supporting up to 200x leverage.
NFT Related
Bong Bears
The Bong Bears NFT series was created in August 2021 by the founder of Berachain, with a total of 100 pieces. The Bong Bears NFT series is a Rebase NFT, where previous NFT holders receive airdrops of the next generation of NFTs. The first Rebase airdropped the Bond Bears series to Bong Bears holders, and after several Rebases, five NFT series have emerged: Bond Bears, Boo Bears, Baby Bears, Band Bears, and Bit Bears.
Due to its deep integration with Berachain, the Bong Bears series is expected to provide airdrop returns, with the current floor price of this NFT series reaching 112 E. The floor price of the Rebase NFT collection ranges from a minimum of 2.8 E to a maximum of 27.5 E.
Honey Comb
The Honey Jar is Berachain's largest unofficial community, primarily engaging in incubating ecological projects, educating the community, and various other activities. Honeycomb is a welfare aggregator for the Berachain ecosystem community created by The Honey Jar, simplifying the process for the community to obtain benefits. Holding a Honey Comb NFT is one way to access these benefits, allowing holders to receive airdrops, whitelist spots, purchase discounts, and more from The Honey Jar's partners.
There are a total of 16,420 Honey Comb NFTs, with a current floor price of 0.33E.
Beramarket
Beramarket is one of Berachain's NFT trading markets, where users can conduct basic NFT buying and selling activities, currently in a closed testing phase. The project proposes the concept of Liquid-Backed NFTs, which combines NFTs and DeFi, with NFTs supported by the Beramarket treasury to maintain market liquidity. Through this liquidity solution, NFTs can receive collateral protection in extreme market conditions, reducing extreme fluctuations in NFT floor prices.
GameFi
Yeet
Yeet
Yeet is a game on Berachain with gameplay leaning towards Ponzi. Players participate in the game by depositing Token Bera into the Yeet prize pool. Each time a player contributes Bera to the prize pool, the countdown timer resets. When the countdown reaches zero, the last player to enter will receive the majority of the Bera in the prize pool. Non-final players can also earn Token Yeet rewards by participating in the game or by providing LP and locking Token Yeet to receive prize pool rewards. Additionally, Yeet has issued the Yeetard NFTs series, with a total of 5,459 pieces, and the current floor price is 0.15E.
BeraTone
BeraTone is a multiplayer casual life game supported by the Build-a-Bera incubator program. Players can experience farming activities such as planting and fishing with bears as the main characters in the game. The game is currently not publicly tested. BeraTone has launched the BeraTone Founder’s Sailcloth NFT series, with holders set to receive airdrops, in-game items, and other benefits in the future. This NFT series has a total of 886 pieces, and the current floor price is 0.5E.
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