In the general bullish atmosphere prevalent this year, Berachain Airdrop is set to make a difference with its innovative features and use cases.
It is a chance to earn the native BERA tokens at the first chance and take part in all the developmental activities of the platform.
In this article, you will read more about the Berachain platform and the ways to make yourself eligible to receive BERA tokens as airdrop.
More About Berachain
Berachain is a layer 1 blockchain network. It is built on the Cosmos SDK. It is secured with the Proof of Liquidity (PoL) consensus mechanism.
PoL rewards the liquidity providers on the platform. It is similar to EVM in terms of the execution layer.
The Berachain platform supports the following decentralized applications (dApps).
- BEX: BEX is Berachain’s native decentralized exchange.
- BEND: It is Berachain’s native lending and borrowing exchange.
- BERPS: BERPS is Berachain’s native perpetual protocol implementation.
- Honey Swap: Honey Swap is the place for swapping HONEY stablecoins.
- BGT Station: This dApp helps in managing the rewards paid in BGT tokens.
- Beratrail: It is Berachain’s native block explorer.
- Faucet: Berachain has a native faucet that rewards users with BERA tokens for completing various tasks.
The Native Tokens of Berachain
The Berachain has three native tokens: BERA, BGT, and HONEY. Each of these tokens is explained in detail here.
BERA Tokens
BERA is the gas token of the Berachain platform with which users can pay transaction fees. It is also used to stake validator nodes.
You can contribute to the appreciation of its value by staking. Such staked bERA tokens are seminal in beefing up the security of the platform.
BGT Tokens
BGT is the governance token of the Berachain platform. The tokens are not transferable but can be acquired only by the liquidity providers on BEX, Berachain’s native exchange. The various uses of BGT tokens are given below.
- Governance: BGT holders can vote for various governance proposals on the platform or delegate other users to make governance decisions.
- Earning Incentives: Each validator on the Berachain network can earn as many tokens in proportion to the delegations they receive on the platform.
- Burning for BERA: The BGT tokens can be burned to get BERA tokens. The tokens are valued at a 1:1 ratio.
HONEY Tokens
HONEY is a stablecoin on the Berachain platform that rescues its users from the general volatility of crypto tokens.
The stability of HONEY tokens is ensured by pegging it against the strength of the US dollar. There are a variety of collateral with which HONEY tokens can be supported, which contributes to its stability.
Honey tokens can be bought from BEX, the native exchange of Berachain.
Berachain Airdrop
The exact date of the Berachain airdrop is not yet announced, but crypto enthusiasts expect the venet to happen any time soon. Of the three tokens native to the Berachain platform, BERA tokens are airdropped to the eligible users.
The users should connect their crypto wallet to the QuickNodes faucet to gain eligibility for the airdrop.
Here are the steps to be followed to make yourself eligible for receiving the BERA airdrop tokens.
Visit the website of QuickNode faucet. Connect your wallets such as Coinbase or MetaMask to the faucet. You should have at least 0.001 ETH in your wallet to connect with the QuickNode faucet. On the platform, then claim the Berachain testnet tokens.
The next step is to interact with the BEX. You can do that by swapping the BERA tokens to get HONEY tokens, WBTC, WETH, etc.
The third step is to make yourself eligible for BERA airdrops to provide liquidity to the platform. You should select a pair of tokens as mentioned on the website, enter the number of tokens you wish to provide, and finalize the transactions.
Another way of interacting with the Berachain platform is by lending, buying, and depositing on the platform. For that connect your wallet and deposit WBTC or supply or borrow HONEY tokens.
On the Berachain ecosystem, complete the various quests that are updated during regular intervals.
Lastly, interact with the platform’s native perpetual protocol implementation platform called Berps. Connect your wallet and conduct trading.
The Bottom Line
The exact date of the Berachain airdrop has not yet been announced, but all users who wish to be on the receiving end of the Berachain airdrop should keep interacting with the platform and earn the favor of the developers so that they are considered for the airdrop event.
Given the various use cases of the Berachain platform, this airdrop is an event you simply cannot miss.
