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. A total of 2% of the $BERA supply is now locked, representing a staggering TVL of $3.1 billion. Of this, 1.1% (55% of BERA on Boyco) has been distributed across third-party markets with a TVL of $2.5 billion, while 0.9% (45% of the supply) is allocated within major markets, securing $508 million in TVL. This positioning suggests substantial gains for major market depositors.
Source: Bera Daily
While some speculated this was part of the Boyco program, Berachain clarified that the Boyco initiative is set to commence soon, with the mainnet launch expected within weeks after Boyco goes live.
Pre-launch vaults, created independently by Concrete/Lombard and Stakestone, were introduced to streamline liquidity provision and reduce long LP waiting periods. Berachain coordinated with these teams to ensure a seamless transition, leveraging the Beramas event to signal the ecosystem’s readiness. Interest from other teams in establishing similar vaults continues to grow.
Funds from these deposits are held securely in vaults managed by @ConcreteXYZ and @Stake_Stone, with allocations directed towards Bera-native protocols such as @KodiakFi and @Dolomite_io. These assets will play a vital role within Berachain’s mainnet ecosystem.
Early participants benefit from pre-Boyco rewards and gain early access to Concrete Bags with an automated, user-friendly experience. However, this comes at the cost of flexibility in future Boyco vault deposits.
Berachain emphasizes that whales hold no unfair advantages beyond their capital. The Boyco program is specifically designed to democratize access to competitive yields, with liquidity incentives distributed equally among all participants, ensuring fairness across the board.
Source: Berachain
Upcoming Airdrop Program
Berachain sets itself apart through transparency and a commitment to value-driven applications. Boyco’s launch will clearly outline $BERA allocations, participating dApps, eligible deposits, and incentive structures. Unlike platforms focused on inflating TVL, Berachain prioritizes genuine ecosystem growth through native applications.
Berachain’s success is intrinsically tied to its ecosystem. Its Proof of Liquidity (POL) model ensures sustainable incentives flow towards BGT over time, fostering long-term application success and ecosystem resilience.
Berachain reiterates that airdrops are designed to reward loyal supporters rather than attract new users. This distinction helps maintain the integrity of the community and the 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.
Berachain NFT Ecosystem
