1/ #GM! Henlo!
What is @berachain? What is Proof of Liquidity? How do their native tokens play together? Whoβs building on their ecosystem? In this #visualthread, we will discuss how @berachain plans to build a #DeFi-native chain.
@itsdevbear
@SmokeyTheBera
$BGT $HONEY $BERA
What is @berachain? What is Proof of Liquidity? How do their native tokens play together? Whoβs building on their ecosystem? In this #visualthread, we will discuss how @berachain plans to build a #DeFi-native chain.
@itsdevbear
@SmokeyTheBera
$BGT $HONEY $BERA
2/ What is @berachain? Bera is an EVM-compatible L1 built using the @cosmos SDK. Proof of Liquidity and the @Tendermint_Core consensus mechanism powers their chain.
3/ #Liquidity is on-chain gold, itβs what started the @CurveFinance wars, vampire attacks, etc. Itβs even more important on the chain-level. It's inevitable that people will flock and migrate liquidity to the most exciting/profitable avenue.
4/ $BGT, $HONEY, and $BERA are the native tokens of @berachain. Each token serves different purposes: governance, medium of exchange (stablecoin), and securing the network (gas) respectively.
5/ Enter Proof of #Liquidity, the exciting part. It is comparable to the delegated Proof-of-Stake mechanism (dPoS), but in this case, they use various whitelisted assets to secure the network.
6/ Staking $BERA yields both $BERA (from block rewards and protocol fees) and $BGT (non-transferrable). Your $BGT holdings reflect how committed you are to the @berachain ecosystem, and acts as a multiplier to the benefits you earn.
7/ $BGT is non-transferrable, to ensure long-term chain-user alignment. It can only be earned through staking $BERA. Protocol and chain revenues (fees and block rewards) are distributed in the form of $HONEY to $BGT holders.
8/ Having a native stablecoin allows $HONEY to inherit @osmosiszone superfluid capabilities. For context, it allows simultaneous liquidity provision and network staking through @CrocSwap.
@0xdoug
@PurposeUnkn0wn
@miyuki__eto
@jeff_w1098
@0xfbifemboy
@0xdoug
@PurposeUnkn0wn
@miyuki__eto
@jeff_w1098
@0xfbifemboy
9/ Hereβs an intuitive flywheel for @berachain βs three native tokens.
10/ Lastly, this is a (probably dated) list of projects building on @berachain. Canβt wait to see this map rapidly expand!
11/ Ooga Booga References:
@Riley_gmi -
@itsdevbear - @itsdevbear/introducing-berachain-4f7dc3032c17" target="_blank" rel="noopener" onclick="event.stopPropagation()">medium.com
@burstingbagel -
@FWCrypto_ -
@Riley_gmi -
@itsdevbear - @itsdevbear/introducing-berachain-4f7dc3032c17" target="_blank" rel="noopener" onclick="event.stopPropagation()">medium.com
@burstingbagel -
@FWCrypto_ -
12/ @MarketCapping YouTube videos with @dcfgod and @SmallCapScience for @berachain interview.
youtube.com
youtube.com
13/ Tagged account below to discuss more about the 'fake-chain' @berachain:
@SmokeyTheBera
@smsunarto
@0xdoug
@loldefi
@crypto_condom
@TheDeFinvestor
@nosleepjon
@knowerofmarkets
@burstingbagel
@SmallCapScience
@dcfgod
@0xSami_
@SmokeyTheBera
@smsunarto
@0xdoug
@loldefi
@crypto_condom
@TheDeFinvestor
@nosleepjon
@knowerofmarkets
@burstingbagel
@SmallCapScience
@dcfgod
@0xSami_
13/ Also tagged amazing #DeFi educator account
@byChadManDan
@NickDrakon
@ReveloIntel
@blocmatesdotcom
@archipelabro
@apolynya
@SalomonCrypto
@shivsakhuja
@mimiLFG
@ManoppoMarco
@Dynamo_Patrick
@rektdiomedes
@MeetWawa
@CryptoDragonite
@BarryFried1
@VirtualKenji
@defi_mochi
@byChadManDan
@NickDrakon
@ReveloIntel
@blocmatesdotcom
@archipelabro
@apolynya
@SalomonCrypto
@shivsakhuja
@mimiLFG
@ManoppoMarco
@Dynamo_Patrick
@rektdiomedes
@MeetWawa
@CryptoDragonite
@BarryFried1
@VirtualKenji
@defi_mochi
@byChadManDan @NickDrakon @ReveloIntel @blocmatesdotcom @archipelabro @apolynya @SalomonCrypto @shivsakhuja @mimiLFG @ManoppoMarco @Dynamo_Patrick @rektdiomedes @MeetWawa @CryptoDragonite @BarryFried1 @VirtualKenji @defi_mochi 14/ If you love our thread please like, retweet and turn on the notifications. Thank you and see you in the next #visualguide!
15/ Trivia Time - We use 'Triskelion' an ancient Celtic's symbol for $BGT, $HONEY and $BERA as it represents cyclical nature of universe and the most important thing usually comes in three. This is to even the @Tendermint_Core symbol that called Triquetra.
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