Airdrop Guide For Berachain ($BERA, $BGT) Token

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16 Jan 2024

Berachain ($BERA, $BGT) is a blockchain that offers high performance and is compatible with the Ethereum Virtual Machine (EVM). It utilizes the Proof-of-Liquidity consensus mechanism to align incentives within the network and to support decentralized applications.
Recently, there have been rumors circulating on Twitter about an upcoming token airdrop by Berachain. It's important to note that since Berachain is currently in the testnet phase, any tasks related to the airdrop will not require real funds.
Furthermore, as Berachain is part of the Celestia ecosystem, there is a possibility that they might conduct a 2-in-1 airdrop. For more details and instructions on how to participate, please refer to the following Berachain ($BERA, $BGT) token airdrop guide.

Brief Introduction

Berachain is a blockchain platform that offers high speed and robustness, allowing for the execution of smart contracts similar to Ethereum. It differentiates itself through the implementation of a novel consensus mechanism called Proof-of-Liquidity, which incentivizes participants for contributing funds to the network, enhancing its stability and security. Berachain's underlying technology is based on Polaris, a powerful framework for constructing Ethereum Virtual Machine (EVM) compatible chains, utilizing the CometBFT consensus engine for optimal performance.

($BERA, $BGT, $HONEY) token

Berachain will introduce two tokens, namely $BERA and $BGT. The $BERA token functions as the network token for conducting transactions on the blockchain, often referred to as the "gas token." This token is utilized to cover the costs associated with transaction gas. As of January 11th, 2024, the $BERA token has not been made available, and there are no existing methods to acquire it.
The $BGT token serves as the governance token for Berachain, a blockchain platform that operates on a Proof of Stake consensus mechanism and implements a Proof of Liquidity model. Here are some key features of the $BGT token:

The only method to acquire $BGT tokens is by depositing liquidity in the native BEX, and these tokens cannot be transferred to other accounts.
Engaging in approved decentralized applications (dApps) and participating in activities like supplying liquidity for LP pairs, which generate BGT rewards, enables you to amass BGT tokens.
One option available is to delegate your BGT tokens to a validator, which helps to safeguard the network and allows you to actively contribute to governance proposals.
You have the option to exchange BGT tokens for BERA tokens at a 1:1 ratio. It's important to note that this conversion is irreversible, meaning that BERA tokens cannot be converted back into BGT tokens.

Berachain will introduce its own stablecoin called $HONEY, which is intended to have a 1:1 value with USDC. Once the Berachain Mainnet is operational, users will have the ability to create $HONEY through the Honey dApp or purchase it on Berachain's decentralized exchange (DEX).

Main Features

Berachain: This is a high-speed and robust blockchain platform that supports smart contracts, much like Ethereum. However, it offers additional advantages that set it apart from its counterparts.
Polaris EVM: Berachain offers a software tool that assists developers in creating smart contracts specifically for their platform. This tool supports the same languages and tools as Ethereum, making it easier for developers to transition and work with Berachain.
CometBFT: Berachain provides a software tool that aids in achieving consensus within the blockchain network by swiftly and effectively determining the validity of transactions.
Proof-of-Liquidity: Berachain introduces a novel approach to blockchain operation, where participants are incentivized for contributing funds to the network. This incentivization mechanism enhances the stability and security of the blockchain platform.

Will Berachain token airdrop?

Berachain has not officially confirmed the occurrence of an airdrop, but there have been numerous rumors circulating on Twitter suggesting that it might happen. Given the success of other projects within the Cosmos ecosystem that have conducted airdrops, it is highly probable that Berachain will follow suit. Additionally, Berachain's public testnet, Artio, was recently launched on January 11th, 2024. This indicates that we are in the early stages of the airdrop, presenting a favorable opportunity to position oneself for potential benefits. Importantly, since it is a testnet, participating in the tasks does not require the use of real funds, making it a virtually risk-free endeavor.

How to get started

Here is how to position yourself for potential Berachain token airdrop.

Connect MetaMask to Berachain
To seamlessly link your MetaMask wallet with Berachain, follow these steps:

Visit the Berachain Docs website.
Look for the "Add testnet" option and click on it.
A transaction prompt will appear on your MetaMask wallet.
Confirm the transaction to approve the connection between MetaMask and Berachain.

Follow Berachain on social media
To connect with Berachain on social media platforms, navigate to their website at https://www.berachain.com/ and click on the social media icons located at the top of the page.

Actively participate in the Berachain Discord community
You have the opportunity to participate in the Berachain Discord community by asking or assisting with answering questions. Engaging in this community not only benefits others but can also be advantageous for potential airdrops. By actively participating and contributing to the Discord community, you have the chance to earn exclusive roles and increase your ranking. This increased participation and ranking may potentially make you eligible for airdrops and potentially even grant you whitelist access, as we have observed in previous airdrops.

Obtain BERA Testnet Tokens
To access the faucet and receive tokens, visit the website at https://artio.faucet.berachain.com/#dapps. Scroll up on the page, input your wallet address, and click on the "Drip tokens" button. It's important to note that due to network congestion, this method may not always work as stated by the Berachain team. However, it could be beneficial to periodically attempt this process as the network conditions may improve at a later time.

Swap Tokens
To exchange your testnet BERA tokens for $STGUSDC on the Berachain DEX, navigate to the swap section of the platform. There, you can initiate the swap transaction and trade your BERA tokens for $STGUSDC tokens.

Mint Token
To convert STGUSDC to HONEY tokens, go to Honey and mint the STGUSDC to the HONEY token.

Supply and Borrow
BEND is Berachain's version of Aave, a protocol for borrowing and lending. To use BEND, connect your wallet to https://artio.bend.berachain.com/. On the website, find the "Available to supply" section and supply HONEY tokens, making sure to enable HONEY as collateral. Next, navigate to the "Available Borrows" section and borrow HONEY tokens. By participating in the supply and borrowing activities with HONEY, you will earn rewards in $BGT tokens.

Interact with BERPS
BERPS is Berachain's platform for trading perpetuals, which offers the opportunity to engage in high leverage trading of up to 100x leverage for various token pairs. To get started, connect your wallet to https://artio.berps.berachain.com/. Once connected, you can choose any trading pair to either go long or short. It's important to note that since you're using testnet tokens, you don't need to be concerned about the risk of liquidation.
To deposit HONEY into the Vaults, follow these steps:

Go to the "Vaults" tab on the platform.
Select the amount of HONEY you want to deposit.
Click on the "Approve HONEY" button.
By depositing HONEY into the Vaults, you will earn rewards in the form of bHONEY.

Stake and vote on BGT Station
The BGT station serves as the central hub for BGT governance. To access its features, you need to connect your wallet to https://artio.station.berachain.com/. Once connected, you will have the ability to delegate and vote using BGT tokens, as soon as these features become available and there are governance proposals to participate in.

Complete Galxe quests
To participate in the Berachain Galxe quest, follow these steps:

Visit the Berachain Galxe quest page.
Connect your wallet, ensuring that you are on the Ethereum network.
Complete the assigned tasks to earn points.
Aim to obtain the Bera Cub role, as it may grant you access to additional whitelist opportunities and benefits.

Here are answers to the intro to Berachain quiz on Galxe:

The answer to the first question is option C.
The answer to the second question is option D.
The answer to the third question is option D.
The answer to the fourth question is option D.
The answer to the fifth question is option A.

Berachain ($BERA, $BGT) airdrop summary

When evaluating an airdrop, there are various aspects to take into account. Firstly, one should assess the likelihood of the project conducting an airdrop. Next, it is important to consider the quantity of tokens allocated by the project for airdrop campaigns, as well as the level of difficulty associated with participating in the airdrop. Additionally, the utility of the token should be examined to ensure that participating in the airdrop serves a practical purpose. Lastly, it is crucial to determine if the airdropped tokens are subject to any lockup period.

The likelihood of an airdrop from Berachain, a component of the Celestia ecosystem, appears to be high due to the growing trend of airdrops among other projects within the same ecosystem.
The specific allocation of the airdropped tokens for Berachain is currently undisclosed.
The airdrop process for Berachain is currently in its testnet phase, which means that you can participate in the airdrop tasks without the risk of losing any real funds.
Berachain will introduce three tokens, namely $BERA, $BGT, and $HONEY, each serving a distinct purpose and offering unique functionalities.
Currently, there is no available information regarding the token lockup for both $BERA and $BGT tokens.