Author: defioasis
Editor: Colin Wu
Recently, Berachain, a prominent public chain, has been making frequent moves. First, it held an NFT event in collaboration with the Binance Web 3 wallet, and then it collected 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 as liquidity exits with yield farmers, but Berachain's new consensus mechanism, Proof of Liquidity, aims to address this dilemma. Since its inception, this concept has garnered significant attention from the community and has subsequently attracted capital, securing $140 million in funding from multiple institutions.
With the Berachain mainnet launch imminent, its ecological projects are also gearing up. This article will briefly review some noteworthy native projects within its ecosystem.
Before exploring Berachain, it's 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 soulbound 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, among others.
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, featuring a customized AMM around its governance token, LOCKS, which is composed 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, round, and strategic financing, raising a total of $1.3 million.
The platform mainly consists of DreamPad and HenloDEX. DreamPad is Honeypot Finance's launchpad, utilizing a Fair Token Offering (FTO) model, where no tokens are reserved for the project team, 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 a 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 approximately 0.1E.
Kodiak
Kodiak is Berachain's native liquidity hub, with its testnet already live, featuring Swap, LP, and staking for Token KDK. The platform has completed 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 environment on Kodiak, setting their own liquidity provision ranges. Once users deposit funds into the pool, Kodiak dynamically adjusts to maintain the optimal price range. Additionally, Kodiak will soon launch the Panda Factory feature, 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 simplifies the token approval process using zap solutions to reduce trading friction for users. Ooga Booga charges trading fees only when both Bex and Kodiak's quotes are lower by at least 0.15%. The Ooga Booga testnet currently features Swap and the protocol's token OOGA Stake functionality.
Gummi
Gummi is a leveraged trading platform for currency markets, claiming to be the first modular currency market on Berachain, aiming to become a leading lending and leverage protocol on the chain. Gummi supports various asset formats, including ERC-20, ERC-721, and LP tokens. Lenders can create isolated lending pools using assets like Infrared's iBGT and Kodiak's island without permission, isolating risk. Lenders can customize their risk management, allowing users to borrow assets with a maximum LTV of 99%. Additionally, Gummi allows users to hold up to 100x leveraged positions. Gummi has previously completed a $2 million seed round, and current users wishing to participate in the Gummi testnet need to apply for a waitlist.
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 various DeFi farming activities across other Berachain ecosystem projects, such as lending and DEX, to earn additional yields.
IVX
IVX is a native liquidity options protocol built on Berachain, having secured $1.2 million in funding during its seed round led by Animoca. The current testnet supports trading of four assets: BTC, ETH, SOL, and Doge. In addition to standard options trading, IVX allows users to trade contracts with expirations 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 holders of previous generation NFTs receive airdrops of the next generation NFTs. The first Rebase airdropped the Bond Bears series to Bong Bears holders. After several Rebase events, 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 yield airdrop returns, with the current floor price reaching 112 E. The floor price for 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 engaged in incubating ecological projects, educating the community, and various other activities. Honeycomb is a welfare aggregator for the Berachain ecological community created by The Honey Jar, simplifying the process for the community to access benefits. Holding a Honey Comb NFT is one way to receive benefits, including airdrops, whitelists, and purchase discounts from The Honey Jar's partners.
The total number of Honey Comb NFTs is 16,420, 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. It is currently in a closed testing phase. The project team has proposed the concept of Liquid-Backed NFTs, which combine NFTs and DeFi. These NFTs are supported by the Beramarket treasury to maintain market liquidity. Through this liquidity solution, NFTs can receive collateral protection during extreme market conditions, reducing extreme fluctuations in NFT floor prices.
GameFi
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 adds 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 farm life activities such as farming and fishing with bears as the main characters. 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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