Berachain Nears Mainnet Launch with Boyco Program and Token Generation Event (TGE)

Berachain has announced the closure of Boyco deposits, marking a significant milestone as the platform approaches its mainnet launch.

Web3 platform Berachain has announced the closure of Boyco deposits, paving the way for the platform's highly anticipated mainnet launch.

As of March 23, 2023, a total of 2% of the $BERA supply has been locked in preparation for the launch. This staggering amount equates to an incredible TVL of $3.1 billion.

Delving deeper into the TVL distribution, we observe that 1.1% (55%) of BERA on Boyco has been allocated across third-party markets, amassing a substantial TVL of $2.5 billion. Meanwhile, 0.9% (45%) of the supply is earmarked within major markets, securing an impressive TVL of $508 million. This strategic positioning bodes well for depositors in the major markets, hinting at substantial gains upon launch.

While speculation arose regarding the commencement of the Boyco program, Berachain has clarified that the initiative will begin soon, followed by the mainnet launch within weeks of Boyco's launch.

In preparation for the mainnet launch, several teams have independently created pre-launch vaults to streamline liquidity provision and minimize lengthy LP waiting periods. These vaults will play a crucial role in facilitating a smooth transition during the launch.

Berachain has worked closely with Concrete/Lombard and Stakestone to establish these pre-launch vaults, which will be signaled by the Beramas event, indicating the ecosystem's readiness.

Meanwhile, interest from other teams in creating similar vaults continues to grow rapidly.

Funds from these deposits are safely stored in vaults managed by @ConcreteXYZ and @Stake_Stone, with allocations directed towards Bera-native protocols like @KodiakFi and @Dolomite_io. These assets will be integrated within Berachain's mainnet ecosystem.

Notably, early participants will be eligible for pre-Boyco rewards and gain early access to Concrete Bags, offering an automated and user-friendly experience. However, they will face limitations in future flexibility for Boyco vault deposits.

Berachain emphasizes that whales hold no unfair advantages beyond their capital. The Boyco program is meticulously designed to democratize access to competitive yields, ensuring that liquidity incentives are equally distributed among all participants, fostering fairness across the board.

As we eagerly await the launch of Boyco, Berachain remains committed to transparency and value-driven applications. The launch will clearly outline $BERA allocations, participating dApps, eligible deposits, and incentive structures.

Unlike other platforms that prioritize inflating TVL, Berachain values genuine ecosystem growth through native applications. Berachain's success is intrinsically linked to its ecosystem, and its Proof of Liquidity (POL) model ensures sustainable incentives flow towards BGT over time, fostering long-term application success and ecosystem resilience.

Finally, airdrops are designed to reward loyal supporters rather than attract new users, maintaining the integrity of the community and ecosystem.

According to Berachain CEO, Smokey Beras, Testnet users will still have a great chance to receive an Airdrop.

About Berachain: A Glimpse Into the Future

Berachain, an innovative blockchain platform built on the Cosmos SDK, has been making waves in the crypto ecosystem with its unique Proof-of-Liquidity (PoL) consensus mechanism. Designed to address the inefficiencies of traditional Proof-of-Stake (PoS) and Proof-of-Work (PoW) models, Berachain’s PoL incentivizes liquidity provision while maintaining robust network security. This novel approach has positioned Berachain as a standout player in the decentralized finance (DeFi) space.

Berachain boasts six official NFT collections, starting with the OG Bong Bears. Each collection undergoes a “rebase” process, granting holders new NFTs with each release. The final rebase will coincide with the mainnet launch. Since being founded by NFT collections, Berachain NFT Ecosystem is worth keeping an eye on.

Berachain has focused on building a strong community around its NFT collections. By creating an ecosystem where owning one NFT can lead to benefits in other collections or within the broader Berachain platform, they encourage community interaction and long-term engagement.