CoinGecko experts have suggested that an airdrop by the L1 blockchain project Berachain is likely and have provided guidance on how to prepare for the potential distribution.
Berachain (@berachain) is an upcoming Layer 1 blockchain that is built on the Proof-of-Liquidity consensus mechanism.
Learn about the testnet interactions available and how you can earn Berachain points on Galxe.https://t.co/yWqJoi79ae
— CoinGecko (@coingecko) March 6, 2024
The team of journalist Colin Wu agrees with the possibility of token distribution. In February, they included Berachain in their list of anticipated airdrops for 2024, alongside zkSync, LayerZero, Magic Eden, EigenLayer, and others.
The WuBlockchain team has counted larger-scale projects that may have airdrops in 2024, including: zkSync, LayerZero, Magic Eden, EigenLayer, Berachain, Taiko, Blast, Aevo, Puffer Finance, EtherFi, Backpack and Friendtech. Among them, there are many L2 and related LRT and… pic.twitter.com/Yuaeji4GwS
— Wu Blockchain (@WuBlockchain) February 20, 2024
Berachain is an EVM-compatible blockchain built on the Cosmos SDK. It employs the Proof-of-Liquidity consensus mechanism. This variant of “delegated” PoS allows users to stake tokens while simultaneously providing liquidity for network projects.
In April 2023, the team raised $42 million in a funding round led by Polychain Capital.
In January, developers launched the public test network Artio. Users gained the ability to swap BERA tokens, issue HONEY stablecoins, provide loans in assets, and supply liquidity in pools. The ecosystem also uses the governance token BGT.
CoinGecko specialists noted that many projects have historically rewarded users for interacting with testnets. They suggest that now is the “perfect time” to explore the Berachain network and earn additional points on the Web3 platform Galxe.
Experts cautioned that the project team has not announced an airdrop, and any actions do not guarantee participation in a potential token distribution.
The first step is to register on Galxe. This can be done using social media accounts or by connecting a wallet like MetaMask.
After this, users can set up their account and access the Berachain Honey Dapp application, part of the March of the Beras Daily program, where they can earn 5 points daily.
The second section, March of the Beras Part One: Onboarding, consists of a series of tasks that can be completed once, offering significantly higher rewards.
The next step involves joining the project on the X platform via the Follow @berachain on Twitter button. The link obtained upon request should be copied and pasted into the lower field for account verification. This allows users to follow project developments and retweet messages.
Next is the task of visiting the Berachain website. Here, users must request a code via email and enter it to complete the verification process. Opening the main page will already earn reward points.
Then, users need to join the project’s Discord server. Specialists recommend opening the application before proceeding to this task, where GalxeBot will allow account authorization upon request.
After completing the Discord verification process, users can interact with the community and gain the Bera Cub status through activity. However, the team warned against deliberately acting to obtain this role.
Next, by clicking Visit the Berachain Docs, users should access the official Berachain documentation. Studying it will enable them to answer corresponding tasks on Galxe. There are five in total. Answers: Proof of Liquidity, Providing Liquidity on DAO, BTC, Polaris EVM, and Faucet.
By clicking Drip $BERA, users can proceed to obtain tokens. Coins can be drawn from the “faucet” every eight hours.
To continue, users need to select the Berachain Artio network and enter an address.
Additional bonuses can be obtained by having an account on the infrastructure platform QuickNode and retweeting a project post, confirmed by a link.
The next task involves exchanging BERA on the BEX exchange. If using a wallet like MetaMask, users will need to manually add the network.
On the trading platform, users should select the swap of BERA for STGUSDC and enter the amount.
Before final confirmation, the exchange will preview the transaction results.
The last task on Galxe is the issuance and storage of HONEY. After connecting a wallet, users simply need to specify the amount of STGUSDC for which stablecoins will be issued.
Experts noted that there are additional actions users can take in the Berachain testnet. While these do not earn points, such extra activity is typically considered during airdrops.
In the case of Berachain, users can:
- provide liquidity for pools in STGUSDC and HONEY (rewarded with BGT tokens);
- trade perpetual contracts;
- lend HONEY;
- mint NFTs as part of the Ooga Booga Ticket initiative.
“Considering that testnet assets do not require real money, this is a great opportunity to interact with the ecosystem and learn more about Berachain,” concluded CoinGecko specialists.
Earlier, they provided recommendations on how to increase points for participation in the 550 million MODE token airdrop planned for April by the Mode project.