VeraChain ($BERA, $BGT) Token Airdrop Information
Berachain ($BERA, $BGT) is a high-performance EVM-compatible blockchain that uses proof-of-liquidity consensus to align network incentives and support decentralized applications. There are rumors going around on Twitter that VeraChain will hold a token airdrop. Since Berachain is in the testnet phase, all airdrop operations do not require real funds. Additionally, since Berachain is in the Celestia ecosystem, there is a high possibility that Berachain will have a 2 in 1 airdrop! The following is a Berachain ($BERA, $BGT) token airdrop guide.
Check out the Berachain testnet airdrop video guide!
What is VeraChain?
Berachain is a fast and powerful blockchain that can run smart contracts like Ethereum. It uses a new method of running blockchain called Proof-of-Liquidity. This makes the network more stable and secure by rewarding those who contribute money to the network. Berachain’s technology is built on Polaris, a high-performance blockchain framework for building EVM-compatible chains on top of the CometBFT consensus engine.
Below is a summary of what Berachain is and its main features.
- Vera Chain: A fast and powerful blockchain that can run smart contracts like Ethereum, but offers some additional benefits.
- proof of liquidity: A new blockchain operation method that makes the network more stable and secure by providing rewards to those who contribute money to the network.
- Polaris EVM: A software tool that helps developers create smart contracts for Berachain using the same language and tools as Ethereum.
- Comet BFT: A software tool that helps blockchains reach consensus on which transactions are valid using a fast and efficient method.
Bearachain is a highly anticipated project for 2024, backed by renowned VCs such as Polychain Capital and Hack VC!
Is there a Berachain token airdrop?
Berachain has not confirmed that they will be conducting an airdrop, but there are a lot of rumors on Twitter that they will. Considering how well other Cosmos ecosystem projects are doing with airdrops these days, it is highly likely that VeraChain will also do its own airdrop. Additionally, Berachain’s public testnet, known as Artio, has just launched on January 11, 2024. This means we are now very early in this airdrop and there is a great opportunity to position yourself for it. Most importantly, because it’s a testnet, you don’t have to spend real money to do the work, so performing a potential airdrop is virtually risk-free!
What are VeraChain ($BERA, $BGT, $HONEY) tokens?
Berchain has two tokens: $BERA and $BGT. BERA tokens are also called “gas tokens” as they are network tokens used to send transactions on the blockchain. This is what pays the gas cost of the transaction. BERA tokens have not been released yet, and there is no way to obtain them as of January 11, 2024.
Meanwhile, the $BGT token is the governance token of Berachain, a proof-of-stake blockchain that uses a proof-of-liquidity model. BGT tokens have the following features:
- Depositing liquidity into native BEX is the only way to earn BGT and is non-transferable.
- You can accumulate BGT by performing certain actions on approved dApps, such as providing liquidity to LP pairs that emit BGT.
- BGT can be delegated to validators to secure the network and participate in governance proposals.
- You can burn BGT 1:1 for BERA, the main network token. However, you cannot convert BERA to BGT because this is a one-way function.
Hope this helps!
Berachain will also have its own stablecoin called $HONEY, which aims to be 1:1 with USDC. Honey once the Berachain mainnet is activated. You can issue using Honey dApps purchased on Berachain’s DEX.
How to get a potential Berachain ($BERA, $BGT, $HONEY) token airdrop?
Berachain is in the Cosmos ecosystem, so there’s a good chance you’ll receive a Cosmos airdrop in preparation for a potential Berachain airdrop! This means you can get a 2 in 1 airdrop with Berachain and Celestia!
Here’s how to get your hands on a potential Berachain token airdrop:
- Connect MetaMask to Berachain
Go to Berachain Docs and click “Add Testnet” to automatically connect your MetaMask wallet to Berachain. Approve the transaction in MetaMask.
- Follow Berachain on social media
Go to https://www.berachain.com/ and follow our social media pages by clicking the buttons at the top of the page.
- Join the Berachain Discord Community
You can ask questions or help answer them in the Berachain Discord community. Aside from doing good for the community, it can also help you with potential airdrops as you can rank and earn exclusive roles based on your Discord activity. As we’ve seen with many past airdrops, this could potentially qualify you for an airdrop or even whitelist access.
- Get testnet BERA tokens
Go to https://artio.faucet.berachain.com/#dapps, scroll up, enter your wallet address and click “Drip tokens.” However, this may not work as the Berachain team said they are experiencing a lot of network congestion. However, it may be helpful to try it occasionally as network conditions may be better later.
- Token Exchange on Berachain DEX
Go to the swap function of Berachain DEX. Exchange testnet BERA tokens for $STGUSDC.
- Mint HONEY Token
Go to Honey and mint STGUSDC as HONEY tokens.
- HONEY supply and borrowing
BEND is equivalent to Aave, Berachain’s lending and lending protocol. To interact with BEND, connect your wallet to https://artio.bend.berachain.com/. Scroll down to the “Available for Supply” section to supply your HONEY. Don’t forget to activate HONEY as collateral. Then go to the “Available for Loan” section to borrow your HONEY. Supply and borrow HONEY and be rewarded with $BGT tokens.
- Interacting with BERPS
BERPS is Berachain’s perpetual market that allows high leverage trading of up to 100x leverage for your preferred token pair. Connect your wallet to https://artio.berps.berachain.com/ and select a long or short trading pair. Since we only use testnet tokens, you don’t have to worry about liquidation risk.
Then go to the “Vaults” tab, select the amount of HONEY you want to deposit and click “Approve HONEY” to deposit HONEY into the Vault. If you do this, you will be rewarded with bHONEY.
- Stake and Vote on BGT Station
BGT Station is the hub of BGT governance. Connect your wallet to https://artio.station.berachain.com/. Once a feature is available and there is a governance proposal, BGT can be used to delegate and vote.
- Complete the Galkse quest
Go to the Berachain Galxe quest page and link your wallet. Make sure you are on the Ethereum network. Complete tasks and earn points. The most important thing is to earn the Bera Cub role as it can open the door to other whitelist opportunities and perks.
The answers to Galxe’s Intro to Berachain quiz are: C, D, D, D, A
Verachain ($BERA, $BGT) airdrop review
There are several factors to consider when reviewing airdrops. First, there is a possibility that the project will conduct an airdrop in the first place. We will then look at how many tokens the project will allocate to the airdrop campaign and the difficulty of participating in the airdrop. It is also important to look at the utility of the token to ensure there is a real use and purpose for participating in the airdrop in the first place. Lastly, a factor to consider when reviewing an airdrop is whether a lock-up period applies to the airdropped tokens.
Airdrop possibilities: There are a lot of rumors surrounding a potential VeraChain airdrop. Berachain is part of the Celestia ecosystem and other projects in the ecosystem are currently gaining significant exposure through airdrops. Therefore, we think there is a possibility for Berachain to do a token airdrop.
Airdropped token allocation: Berachain airdrop allocation is unknown.
Airdrop Difficulty: Berachain is currently in the testnet phase. Therefore, there is no risk of losing your real funds by performing an airdrop operation.
Token Utility: Berachain has $BERA, $BGT, and $HONEY tokens. Each of these tokens has its own unique set of utilities.
Token Lockup: There is no information yet on $BERA and $BGT token lockups.
