hihosilver

merry beramas gang Going to use this as a post to clear up as many questions for everyone from salty airdrop hunters to sophisticated LPs to protocols wondering about Boyco. Longpost incoming. 1. Is this Boyco? No, this isn't the Boyco program itself. That will start in the near future, and mainnet will follow within a couple weeks of Boyco. 2. Why did Berachain make these pre-launch vaults? We didn't actually. The teams at Concrete/ Lombard and Stakestone were working on these independently. Rather than having them launch the vaults in a disorganized fashion (or launch too early, and keep LPs waiting), we asked to work together to draw attention to the opportunity in a more coordinated manner as a fun conclusion to our Beramas event, and to show the community that we're very close to the real launch. In the interim, other teams have reached out asking about setting up similar vaults in the future - perhaps for one of your favorite decentralized stablecoins 👀 3. Where are my funds going? Deposits are flowing into vaults managed by @ConcreteXYZ and @Stake_Stone respectively. These vaults will in turn allocate the assets into Bera-native protocols like @KodiakFi and @Dolomite_io that are participating in Boyco, amongst others. These funds will end up on those protocols on Bera mainnet. Pre-deposit vaults -> Boyco -> Mainnet protocols 4. Why should I deposit in these vaults? What's the advantage? Community member @samoyedali summarizes it well here. https://t.co/KZto67Pr2Y - tl;dr is that you start stacking rewards prior to Boyco starting, including the very first opportunity to earn Concrete Bags, and have a one-click automanaged UX. But you trade off the optionality of depositing into your own Boyco vaults later. 5. Reeeee it's a whale game reeeeeee Incentives in BERA on Boyco will be proportional to liquidity deposited - so actually, whales do not have any additional advantage (beyond their already existing access to capital) In fact, Boyco is meant to break whale games and democratize access to competitive yields and sweetheart deals that are typically only accessible to people providing 8-9 figures of capital. By allowing applications to determine how much of their token supply (or points etc) they are willing to pay for liquidity, retail users can get the exact same terms as whales. 6. Reeeeeee there's gonna be no testnet airdrop reeee Wrong. The portion of BERA allocated for Boyco is separate from testnet allocations, and will be clearly outlined when tokenomics are released. They are mutually exclusive and not correlated. 7. Reeeee mainnet won't be till April cuz of the Lombard vault reeee Also wrong. We should have worked with the Lombard team to message this more clearly. The vault will last for a couple months post mainnet launch, as part of Boyco, meaning that the LBTC will be locked for some time. The exact date for that unlock (and mainnet) is not public as of yet. Q5 is much sooner. 8. What about other Boyco protocols? The list of protocols eligible for Boyco will be publicly released within the next 10 days. They were chosen based on a combination of interest from LPs, ability to attract TVL, demonstration of PMF in other ecosystems, Bera-nativeness of course, and incentives added to the campaign. They are more than welcome to launch these sorts of vaults as well, but I think it'll be smart to leave a lot of fun for the campaign itself. 9. Why is this different from Scroll / Blast etc? Boyco and our entire prelaunch is focused on transparency, and driving value into applications. When Boyco launches, you'll know the amount of BERA tokens being allocated to the campaign. You'll know the full set of dApps and eligible deposits, and the various incentives associated with them. You'll know how long your funds will be locked for, and you'll know that they are going into native BERA applications which are issuing a token on Berachain in the future. They aren't going into a bridge for the sake of TVL metrics, or into a farm to pump numbers for a future TGE. We are purposely using the chain's moment of high local exposure and mindshare (launch) to accelerate the application ecosystem as much as possible, in service of the builders and eventual users of those apps. Much of the RFB program the RFA application process was designed with the same endpoint in mind. Berachain is the first chain whose success is even more intricately tied to the success of its applayer. Apps winning and incentives flowing to BGT over time is what makes Proof of Liquidity win. As such, we're betting on our applications with everything we've got. And we'll continue to double down for the years to come. With ~$70m in deposits and counting from one Christmas morning and 2 vaults, I can't wait to see what happens with 100 other markets and 9 figures of incentives on the full Boyco rollout. Thanks for reading gang. Q5 is gonna be a movie.

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hihosilver @hihosilver25

over 1 year ago

@BlurCrypto the difference is tho this staking isnt a complete "lockup" you can unstake your stakestone eth at any time, staying hopeful for berachain cause i grinded tf outta the testnet lmao

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hihosilver

@hihosilver25

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