What can you do on Berachain? Understand the popular ecological projects in one document

Author: Berachain

Compiled by: Deep Tide TechFlow

It’s finally here.

After two years of waiting, Berachain’s Mainnet launch event was released last Thursday, and Beras has been cooking. There’s a lot going on, and it’s hard to get a full picture of what’s happening on any chain – but this article will give you a comprehensive look at pretty much everything you can do on Berachain right now.

Berachain itself needs no introduction, but its consensus mechanism - Proof-of-Liquidity (PoL) - is the core driving force behind Berachain’s economic innovation. Initially, when the idea of this new consensus mechanism was proposed, Berachain was just a community, not an L1. But now, the situation is very different. After attracting more than $3 billion in deposits through the Boyco plan, Berachain has officially launched, started producing blocks, and attracted a large number of dApps and users.

This blog usually focuses on the fundamentals of Berachain, discussing its future potential, but this time we will start from a practical perspective to explore the actual ecosystem on the chain. Let’s get started!

Explore Berachain’s DeFi ecosystem

First, we start with an overview of the DeFi ecosystem of Berachain. Most of the functions of this ecosystem rely on assets deposited through Boyco, and the dApp team is also working hard to launch new strategies and on-chain functions.

According to the data from DefiLlama, the total value locked (TVL) of Berachain is slightly higher than 19 billion US dollars, but this does not include all Boyco assets. Captain Jack Bearow has written an excellent summary of Boyco’s market operations and the flow of these assets. You can click here to read it.

Briefly explain the operation mode of Boyco, and then we will move on to the main network dynamics.

Boyco plans to select 12 applications and over 20 asset issuers. Boyco assets are divided into three categories: primary assets, third-party assets, and mixed assets. According to the asset category, different multiples and terms are applied, and each team has submitted application scripts, explaining where these assets will be used after they go online on the mainnet.

Looking at Berachain’s TVL data, not only is it evenly distributed among dApps, but it is also very healthy across pools, assets, and strategies. Next, we’ll list some of the on-chain activities and highlight some specific strategies and pools to demonstrate their possibilities.

Starting from BeraHub, we can take a look at how the PoL magic works.

After opening the website, you will see several different tabs, but let’s start with the liquidity pools. The top five liquidity pools in TVL allow you to deposit HONEY or WBERA, with paired assets including BYUSD, USDC.e, WETH, and WBTC, depending on your risk preference.

! [What can I play on Berachain?] Learn about popular ecological projects in one article](https://img.gateio.im/social/moments-937ce0af685e886ce519bbffd27d60c8)

These Liquidity Provision (LP) certificate tokens can be used to stake reward vaults, which is the primary way to earn BGT rewards on Berachain. There are currently five reward vaults – corresponding to these five liquidity pools – that have been whitelisted and open for deposits, each with a different BGT capture rate and annualized rate of return (APR).

! [What can I play on Berachain?] Learn about popular ecological projects in one article](https://img.gateio.im/social/moments-c03f2dc9ab6a8800242be40168ca1562)

As of the time of writing, Kodiak’s TVL has exceeded $690 million—so where does this funding come from? And how do LP users leverage Kodiak’s infrastructure?

If we look at the TVL top ten liquidity pools, we can see that Kodiak has significant liquidity in multiple trading pairs, which are distributed among the three types of assets mentioned earlier. In these trading pairs, WETH pairs account for three of the top five, with the remaining including STONE, WBTC, HONEY, and beraETH.

More than $375 million of WETH has been deposited in the Boyco program, most of which is now deployed on the Berachain mainnet.

In addition to offering rewards for depositing more standardized assets, Kodiak has also launched “sweetened islands,” products designed for BERA/HONEY, BERA/WETH, and YEET/BERA pairings, which currently have triple-digit annualized yields. Whatever your needs, Kodiak has grown to over $1.1 billion in assets and continues to roll out new features and farms, such as WBTC/BERA’s “Sweet Island”, integration with Zapper, and the ongoing launch of new tokens in the Berachain ecosystem.

D2 Finance currently provides some unique strategies for Berachain, such as Hyperbera.usdc, Hyperbera.Weeth, Kodiak ++, Dgnberaland, and Hyperbera. At the time of writing, the TVL of the protocol has exceeded $10 million and has been striving to provide differentiated products that utilize the broader Berachain ecosystem.

! [What can I play on Berachain?] Learn about popular ecological projects in one article](https://img.gateio.im/social/moments-5b09d956a6629b3021d315b6c79cfdd2)

D2 recently wrote about their ideas surrounding Berachain and Pol, but the team wants to put tokenized derivative strategies on Berachain, which not only offer attractive returns but also benefit from Pol’s reflexivity and incentive structure. If you want to passively farm BGT rewards through a series of actively managed strategies, D2 might be your ideal destination.

Ooga Booga is a native liquidity aggregator that has completed nearly $200 million in trading volume since its launch. This trading volume comes from a variety of tokens, primarily including BERA, HONEY, and USDC.e.

In addition to trading volume, Ooga Booga is constantly listing new tokens and allowing users to trade assets on multiple DEXs, providing a clean user experience while continuing to roll out new partnerships and integrations.

In addition to trading volume, Ooga Booga continues to list new tokens and allows users to trade assets on multiple DEXs, providing a simple user experience while continually launching new partnerships and integrations.

The Dolomite protocol has attracted nearly $1 billion in assets to the platform, of which more than $32 million has been lent out. Dolomite is building a money market and margin trading protocol that serves Berachain and those looking to get the most out of their assets.

! [What can I play on Berachain?] Learn about popular ecological projects in one article](https://img.gateio.im/social/moments-e7819aa237eda762a441f7f6da58885e)

For users who want to stake BGT or BERA, Infrared is crucial.

The platform is a user-friendly liquid staking solution focused on PoL. Infrared has attracted more than 180 million BERA, through which users can stake BERA and earn iBERA, a liquidity token (ERC-20) backed by BERA 1:1. Deposited BERA tokens are staked through Infrared’s validator network, and users can earn staking rewards without any action.

One of the major advantages of liquidity staking tokens is not only the easy-to-obtain staking rewards, but also its additional capital efficiency. In the Berachain ecosystem, you can use iBERA to provide liquidity, borrow, or use it as collateral without giving up staking rewards. Infrared will also launch iBGT, which is a liquidity variant of its BGT, for users who want to maximize PoL rewards. More information can be found here.

If you want to maximize your exposure to the Berachain ecosystem, you can deposit it into Yeet’s liquidity Trifecta Vault (detailed here).

One overly long introduction is that Yeet has partnered with Beradrome and Kodiak to release a very friendly auto-yield product that allows depositors to earn mining rewards and add them back to Yeet/Bera LP positions.

! [What can I play on Berachain?] Learn about popular ecological projects in one article](https://img.gateio.im/social/moments-0cd3139ff81fdaacfde181be3e7b9032)

Instead of manually providing liquidity, staking credential tokens to Beradrome and routing through Kodiak’s YEET/BERA “sweet island”, users can now do all of this directly through Yeet without having to go through tedious steps. If you wish, you can even withdraw LP certificate tokens from the liquidity trifecta vault for other purposes, the choice is yours.

Beradrome officially went live on February 9 with the goal of becoming the preferred liquid marketplace for any yield asset on Berachain. While the structure is quite complex (you can read more about it in their documentation), it doesn’t stop community users from depositing assets and enabling the “flywheels” effect.

Beradrome’s architecture was inspired by the observation of the Solidly model and an attempt to optimize it. With the underlying operation of PoL, Beradrome is able to build deeper liquidity through reward vaults and yield tokens. If this dApp continues to grow, users will be more motivated to engage with BERO, hiBERO, and oBERO to take advantage of both Beradrome and PoL.

Last but not least, Smilee Finance has launched gBERA, a unique liquid staking token designed to automatically rebenchmark and accrue rewards through Berachain validators. Unlike other liquid staking tokens such as iBERA, gBERA is unique in that it automates the reward claim process and rerolls rewards into BERA without additional action on the part of the user. The team plans to roll out more integrations in the coming weeks, allowing users to wrap gBERA and use it in a variety of applications across the ecosystem.

GameFi, SocialFi, and MemeFi on Berachain

If DeFi is not your cup of tea, that’s okay too.

Berachain is not just another DeFi chain, its ecosystem has shown considerable diversity even just one week after the mainnet went live.

Maybe you just want to bridge to Berachain and take a break to avoid dApps for a while while you plan your next move. If so, take a look at bera.tv. The team described it as “the first cross-dimensional AI-generated TV show” that aired exclusively on Berachain. If you enjoy watching two AI Bear news anchors talk about a variety of topics, then you’ve come to the right place.

! [What can I play on Berachain?] Learn about popular ecological projects in one article](https://img.gateio.im/social/moments-90565f481872cf4a530b43ebd7277342)

If you want to place a bet but not interested in sports? Over/Under is live on mainnet, allowing you to bet on the outcome of live video games in real-time, as well as setting up parlays. Streaming has become one of the most popular ways to acquire viewers, and the numbers don’t lie — more than 7 million unique streamers used Twitch last year, with an average of 2 million concurrent viewers.

! [What can I play on Berachain?] Learn about popular ecological projects in one article](https://img.gateio.im/social/moments-2b878cb94c27e37c952d7cb67a006d7e)

If cryptocurrencies are looking to break out of their circle and start attracting more users, catering to their interests is an important avenue for potential success. Over/Under wants to be the go-to hub for streamers and speculators, and it’s limited to Berachain.

Memeswap aims to create a top destination for memecoin traders, offering an experience similar to pump dot fun, but designed specifically for the Berachain community. If you want to take advantage of the increasingly active activity on the chain, but don’t want to buy tokens outright, you can earn yield by staking your BERA through Memeswap to provide rental liquidity for new token issuances.

For users who wish to actually trade tokens, they can use Memeswap to track the deployment of new tokens, recent bonds, and other details to stay up-to-date. Memeswap has completed over 370,000 BERA in trading volume and integrates with Infrared, Ooga Booga, and other teams to provide a seamless experience for all types of traders.

Shogun is building a platform to make it easier for users to go on-chain through gun.fun. With just one click, users can transfer assets from any chain to Berachain. The team launched on February 11th, and even though Berachain is an EVM equivalent chain, Shogun allows anyone to send assets from non-EVM chains to Berachain.

Honey Chat is a native Berachain social networking app that aims to redefine social dynamics through on-chain mechanisms. Once a user signs up and connects their existing X account, they gain access to a network where social reputation really matters, and that network is governed by tokens.

Advancing Proof of Liquidity (PoL)

Speaking of which, we can talk about PoL, although it’s not officially live yet.

Rather than waiting for PoL to activate, think proactively about how PoL integrates with existing on-chain liquidity and how you can leverage it. Whether you’re switching between different dApps based on a rewards program or choosing to stay true to one or two dApps, there’s a lot of value in thinking about these questions in advance.

As mentioned earlier, there are currently only five whitelist reward vaults – what will happen once more protocols begin the application process? The capture rate distribution for BGT is still relatively evenly distributed, but it is likely that this will not last long. For more information on how the Reward Treasury actually works, you can check out the documentation.

Berachain’s tokenomics are designed to promote a healthy balance between on-chain behavior, separating gas tokens and governance tokens for good reasons. Instead of releasing 10% of the BERA supply every year, users and dApps can earn BGT with completely different unit dynamics and game theory.

Just a simple mention, there are currently some opportunities on the chain, such as Infrared’s iBGT, which currently offers a decent annualized return (even stablecoin yield).

When PoL is activated and officially goes live, those who work hard early will be rewarded for their patience and diligence, while others will need to catch up and understand why Berachain is so different from PoS chains.

Currently, this article should have provided you with enough thinking and direction for action, but there is still much content that has not been covered. If you want to keep up with the latest developments of Berachain at any time, you can start with the Foundation’s X account and ecosystem page, which will be continuously updated as more teams go online on the mainnet.

Thank you for reading, Beras.