Berachain Hasn&#039, t Launched Yet But Has Already Attracted$ 1.7 Billion— Here&#039, s Why

Berachain has raked in more than$ 1.7 billion in deposit vaults as investors look for rewards for assisting with bootstrap protocol liquidity despite not having launched its mainnet. &nbsp,

The pre-launch loan cellars, which opened in partnership with Berachain, allow customers to deposit Wrapped Bitcoin, Ethereum, and other supported resources via methods like StakeStone or Lombard Finance in order to gain early access to Berachain—a hotly anticipated layer-1 bitcoin system.

Deposits are currently distributed across 12 different protocols, all of which give users access to Berachain before Boyco, its next big step, which is described as” a pre-launch liquidity platform designed to help Berachain’s application layer turn momentum into early growth.”

In other words, users will be able to deposit money to support procedures on the emerging bitcoin with early cash in order to improve their success from morning one. &nbsp,

People who use the pre-launch bunkers are getting a scalp start on Boyco and finally a head start on the Berachain ecosystem’s benefits. &nbsp,

” Apart from being just a great means of getting the group involved early, these vaults are a simpler method of stacking rewards due to Boyco’s start, with a one-click UX across a few different verticals”, wrote Berachain’s anonymous Berachain group associate, Knower Bera

The benefits vary depending on the cellars users are depositing into or the protocols they are using, despite what appears to be in need. For instance, those depositing with Lombard Finance are receiving stacked benefits from Berachain, Lombard, Babylon, Concrete, Kodiak, and Dolomite—projects that aim to play a major role in the Berachain habitat upon release. &nbsp,

Lenders in the StakeStone cellars, which are worth more than$ 450 million, can receive similarly stacked benefits, according to a Dune dashboard created by Berachain community The Honey Jar. &nbsp,

At the time of reading, EtherFi, which has almost$ 380 million in pre-launch loan vaults, has attracted more cash than StakeStone to date.

Berachain’s pre-launch vaults alone would make it the 10th largest blockchain by TVL, surpassing blockchains like Avalanche and Aptos in the process, with a total value of more than$ 1.7 billion currently locked. &nbsp,

Although more than 1 % of Berachain’s sign supply has been set aside for Boyco, its pre-launch cash platform, is still undetermined regarding benefits and tokenomics. &nbsp,

Although the launch of Berachain’s mainnet has not been officially announced, anonymous job lead Smokey the Bera stated that it would take place just weeks after the Boyco start. &nbsp, &nbsp,

Berachain is built around a novel consensus mechanism called proof-of-liquidity. The project just announced$ 100 million in funding to expand its blockchain’s Ethereum Virtual Machine support.