Berachain is a blockchain that is built on the Cosmos SDK and it has quickly become a topic of interest in the crypto world due to its unique “proof-of-liquidity” model. It originally started as an NFT project called Bit Bears, but later transformed into a comprehensive ecosystem and so far has raised more than $100 million. The novel blockchain is EVM-identical and uses an innovative consensus mechanism that allow users to provide liquidity by using the native BERA tokens against earning Bera Governance Tokens (BGT). BGT is further used by validators to produce blocks and vote on token distribution and rewards which are referred as “bribes.”
One way to prepare for Berachain is through pre-deposit vaults which were introduced in collaboration with DeFi protocols like StakeStone and EtherFi. The vaults allow users to deposit assets such as Bitcoin and Ethereum before the mainnet launch. More than $2.1 billion deposited has been witnessed including over $627 million from EtherFi alone.
Another key initiative is Boyco, which is the pre-launch liquidity program of Berachain. Boyco is designed to encourage long-term participation as it allows users to deposit assets into various markets such as single-sided, stableswap or volatile ones. Participants earn BERA tokens and multipliers based on the type of assets and markets they contribute to.
The Berachain community is also actively strengthening growth through innovative projects. Community-driven initiatives including NFT projects like Steady Teddys and Beratodds have gained recognition under the “Request for Broposal” program. The projects are set to launch alongside the mainnet.
BERA is the native token and to play a crucial role in the network like powering validator nodes and transactions. Strong indications suggest that active participants in programs like Boyco and other ecosystem initiatives might receive token rewards even though there has been no official announcement of an airdrop. Speculation within the crypto community about a Q1 airdrop is already high equipped with an 81% likelihood.
An exact timeline for the mainnet launch has not been revealed as it is widely expected to follow soon after the conclusion of the Boyco initiative.