公测开启，详解L1链Berachain测试网交互流程

Original - Odaily

Author - Nan Zhi

Yesterday, Layer 1 public chain Berachain announced the launch of the Artio public test network. Berachain introduces the concept of “Proof of Liquidity” consensus, aiming to align incentives between security and liquidity. Berachain said: “About 50 teams deployed contracts on the previous private testnet within a month, and more than 100 teams from other networks planned to deploy on the testnet and mainnet, including Pendle, Redacted, Sudoswap, Abracadabra and other agreements. Thousands of users have purchased Berachain’s official NFT.”

According to officials, Berachain’s official website will be launched in the second quarter of this year.

Introduction to Berachain

Berachain is a Layer 1 blockchain built on the Cosmos SDK, compatible with EVM, and protected by the Proof of Liquidity (PoL) consensus mechanism. The Berachain token economy introduces the Bera network of a three-token system, with the network gas token BERA, the ecological stable currency HONEY and the non-transferable Bera governance token BGT.

Financing situation

According to official news, Layer 1 public chain BerachainCompleted $42 million in financing, led by Polychain Capital, OKX Ventures, Hack VC, Dao 5, Tribe Capital, Shima Capital, Robot Ventures, Goldentree Asset Management, former partner of Dragonfly Capital, Celestia founder Mustafa Al-Bassam, Tendermint co-founder Zaki Manian and others 20 DeFi project founders participated in the investment.

Proof of Liquidity

Proof of Stake (PoS) is a consensus mechanism used in blockchain technology that aims to balance security, speed, and decentralization. But there are certain problems:

• Improving the security of the chain leads to a reduction in liquidity on the chain, affecting operations such as trading, LP, etc.

• Since newly minted tokens always go to the same network participants, staking becomes more centralized.

• The protocol has limited opportunities to improve security on the chain it is built on.

• Validators receive limited rewards from the protocol running the infrastructure.

Proof of Liquidity is based on PoS improvements and aims to solve these problems. Its operation process is as follows:

• By providing liquidity to the liquidity pool, users can obtain the governance token BGT;

• Users delegate BGT to the verifier;

• The validator generates blocks according to the proportional weight of the delegated BGT, and the delegator and the validator then receive rewards from the chain;

• Validators vote on BGT inflation settings for different liquidity pools;

• Validators receive vote bribes from the liquidity pool and distribute them to delegators;

Based on the above network operation process, PoL solves the first problem of proof of equity through two mechanisms:

• The governance token BGT is separated from the gas token BERA;

• The only way to obtain new BGT is by providing liquidity to BEX.

(Odaily note: BEX is the official DEX)

This means that the tokens used for staking are no longer the tokens required to perform on-chain operations. Additionally, liquidity is further incentivized by providing liquidity as the only mechanism to obtain new governance tokens. Staking rewards no longer go directly into the hands of pledgers, but are distributed to different market participants, solving the problem of staking concentration. The PoL incentive protocol cooperates with the verifier, and the verifier incentivizes the LP pool of the protocol through BGT. The protocol helps the verifier accumulate BGT equity through bribery, solving the third and fourth pain points of PoS.

Stablecoin HONEY

According to officials, as of January 11, 2024, there is no way to obtain HONEY tokens. DApp purchases or BEX purchases will be open only when the mainnet starts running.

This token is the basis for adding liquidity, and as mentioned earlier, obtaining the governance token BGT requires providing liquidity to the liquidity pool. BGT delegators will receive PoL incentives in the form of HONEY.

Currently, testnet HONEY can be obtained by receiving testnet tokens and redeeming them through a series of processes, see the next section for details.

Testnet Artio interaction process

• Users first needOfficial FaucetTo receive the test network gas token BERA, enter the wallet address to receive it. You can receive 0.25 BERA every eight hours.

• Then on the official decentralized exchangeBEXConvert BERA to STGUSDC.

• On the official HONEY platform, STGUSDC can be used to mint HONEY and can also be redeemed in reverse.

In addition, Berachain also opensGalxe tasksIn addition to following various official accounts and participating in official groups, it also includes processes such as obtaining BERA and casting HONEY. Readers can choose to complete the above daily interactive content together.

BerachainsDEX liquidity、Perp DEX、loanAll have been opened, and users can choose to conduct further in-depth interactions. This time, various operations are mainly completed based on HONEY. According to the above website banner, the acquisition of BGT will be opened in Artio Epoch 2, making the network operation logic described by Berachain complete. run.