Hello everyone, it's Ayano here💜
Today, I'll be focusing on BeraChain, which has successfully raised a significant amount of funding!
Please stay with me until the end of this week's update.
BeraChain
The Layer1 chain "BeraChain" has raised $42 million in funding.
Built on the Cosmos-SDK, BeraChain is an EVM-compatible smart contract and cross-chain interoperability platform.
It features a unique "Tri-Token system" and "Proof of Liquidity" mechanism.
Tri-Token System
The Tri-Token system consists of the following three tokens:
BERA: Gas token
BGT: Governance token
HONEY: Native collateralized stablecoin
This system aims to achieve the three main functions of a decentralized economy:
A medium for unit and price in executing smart contracts
A consensus means for decision-making on the network's future
A medium for transactions in a common, stable unit of value
Regarding points 1 and 2, it is not a good idea to use Gas tokens for governance since they decrease with each transaction. BeraChain seems to welcome users who generate many transactions.
Proof of Liquidity
Users and validators can deposit assets into a "Consensus Vault" and receive tokenized shares.
The deposited assets provide liquidity to the native DEX and Lending platforms and maintain the peg of HONEY in a model similar to a delegated Proof of Stake system (dPOS).
In the case of Ethereum, users stake ETH and receive stETH, but with BeraChain, it seems that providing liquidity results in receiving the HONEY stablecoin instead.
Why BeraChain
BeraChain is a DeFi native L1, aiming to balance incentives among investors, developers, and users.
Through the Proof of Liquidity consensus, all stakeholders play a role as liquidity providers.
In this way, user adoption and BeraChain's liquidity grow in tandem, promoting sustainable growth.
The mainnet has not been launched yet, but it is scheduled to go live sometime this year.
I'm curious to see how things develop moving forward.
https://medium.com/@itsdevbear/introducing-berachain-4f7dc3032c17
https://twitter.com/TheBlock__/status/1649035269125947392?s=20
Flashbots releases "MEV-Share" to distribute MEV profits to users
Flashbots has introduced a beta version of the MEV-Share protocol, aimed at distributing a portion of MEV profits to Ethereum users.
MEV, or Miner Extractable Value, is a technique for manipulating transaction order to profit from arbitrage opportunities.
Traditionally, MEV profits have been exclusively reserved for validators.
However, with MEV-Share, users can receive a redistribution of MEV while maintaining basic privacy.
Flashbots plans to release the MEV-Share code as open-source in the future.
As Flashbots has long been considered a pioneer in the MEV space, it's worth keeping an eye on the new MEV-Share development.
Bancor announces a new protocol
The veteran DEX protocol "Bancor" has launched a new protocol that enables easy automated trading.
This new tool, called Carbon, allows users to execute automated trading strategies through custom on-chain limit and range orders.
Moreover, Carbon is MEV-resistant, meaning it is not susceptible to sandwich attacks and similar issues.
Bancor's Carbon vs UniswapV3
With Carbon, you can set a trading range for buying and selling above and below a specified price according to anticipated prices.
In other words, it allows you to automatically perform swing trading.
According to Bancor, backtesting has shown that Carbon achieves 2 to 3.4 times greater profits compared to UniswapV3's concentrated liquidity provision.
By the way, Bancor currently ranks 6th in TVL (Total Value Locked) on Ethereum (Bancor is only on the Ethereum mainnet).
Will Bancor become the UniswapV3 killer? I'm curious to find out.
That's all for this week. Thank you for staying with me until the end!
Next time, it's scheduled to be Mirai-chan👯♀️
Please follow Lenster as well.
https://lenster.xyz/u/346137