Berachain-based liquidity platform Boyco went dwell on Tuesday with over $2.2 billion in pre-deposits.
The pre-launch liquidity platform is in-built collaboration with Enso, Berachain and LayerZero.
It goals to resolve the the chilly begin downside for brand new decentralized purposes (dApps) by making certain they’ve ample liquidity from day one. This method theoretically helps dApps appeal to customers instantly upon launch, giving them a head begin within the aggressive DeFi house.
Royco is a protocol on Berachain that allows the creation of liquidity markets the place protocols can negotiate with liquidity suppliers (LPs) to safe liquidity. Boyco is a particular implementation of Royco tailor-made for Berachain’s mainnet launch.
By way of Boyco, purposes can create pre-launch liquidity markets the place customers can deposit property earlier than the mainnet goes dwell. Customers deposit property into vaults, that are then locked till Berachain’s mainnet launch. Depositors could also be rewarded with tokens or factors from Berachain or taking part dApps.
“Throughout Boyco, customers will see over 100 Berachain markets that enable them to deposit a single sided deposit or a two sided deposit,” the staff stated in a Tuesday X publish. “These Boyco markets will likely be rewarding depositors with varied quantities of BERA and app stage incentives.”
This system will likely be on the Ethereum mainnet till Feb. 3 earlier than the liquidity is finally bridged over to Berachain alongside current lockups, per the Boyco staff. Over 2.0% of all BERA — one among Berachain’s upcoming tokens — will likely be rewarded through Boyco participation.
If you happen to didn’t get within the first 24 hrs – it’s nonetheless early. Boyco runs till Feb 3 at 12 AM UTC.
dApps & purposes are providing Factors, token incentives, and BERA for person deposits, which will likely be bridged and deposited on Day 1 of Berachain.
2.0% of all BERA is being rewarded…
— Royco (@roycoprotocol) January 29, 2025
Berachain is an upcoming blockchain that makes use of a proof-of-liquidity consensus mechanism to reward liquidity provision. It has chalked up a cult following on X prior to now yr and enjoys an engaged neighborhood.
The blockchain is humorously set to launch in “Q5,” a non-existent quarter past This autumn, including to the anticipation for taking part in Berachain-related platforms forward of its mainnet launch.