Berachain is preparing to launch its mainnet, gaining widespread attention for its innovative mechanism & meme culture. This unique approach has attracted significant market interest, and has secured $140M in funding from top-tier venture capitals.
Adding to the excitement, Berachain co-founder “Smokey the Bera” hinted on X that the testnet will be incentivized. This suggests that testnet participants may lead to potential berachain airdrops opportunities. In this guide, we’ll show you how to engage with Berachain’s ecosystem and boost your chances of securing future airdrops.
Related: What is Berachain? Get to Know Everything You Need in 5 Minutes!
Berachain Airdrop Step-by-Step Guide
Here’s a list of tasks you can do to increase your chances to get Berachain Airdrop:
- Set up a Crypto Wallet and Add Berachain Network
- Getting BERA from the Faucet
- Swap tokens and provide liquidity in BEX
- Redeeming HONEY for Stablecoins
- Providing $HONEY in Berps to Earn $bHONEY
- Lending Liquidity on Bend
- Managing $BGT at BGT Station
For more information, scroll down to “The Complete Berachain Airdrop Guide” section and follow the interactive tutorial.
What is Berachain?
Berachain is a high-performance, EVM-compatible blockchain built on the Cosmos SDK, featuring a unique Proof of Liquidity (PoL) consensus mechanism that boosts liquidity and supports DeFi development.
Notably, Berachain raised $42 million in Series A funding led by Polychain Capital in April 2023, followed by an additional $100 million in Series B funding led by Framework Ventures and Brevan Howard Digital, totaling $142 million in investments.
Source: CryptoRank
With Berachain’s innovative mechanism and significant backing from top VCs, it’s easy to see its massive potential. Currently, Berachain is still in its testnet phase, giving users a great chance to get involved and potentially set themselves up for airdrop opportunities.
The Complete Berachain Airdrop Guide
However, it’s important to note that there has been no official disclosure on how the airdrop will be distributed. Based on past experiences, increasing interactions with the ecosystem’s projects may improve your chances.
Therefore, the following guide will focus on interacting with Berachain’s native projects to potentially increase airdrop eligibility. Additionally, keeping an eye on the latest official updates from Berachain is highly recommended to optimize your chances.
1. Set up a Crypto Wallet and Add Berachain Network
- Go to the Berachain Core Docs and click “Add Testnet”.
2. Getting BERA from the Faucet
The Berachain Testnet Faucet allows developers and users to obtain free Testnet BERA tokens. To prevent abuse, you’ll need at least 0.001 ETH on the Ethereum mainnet. Here’s how 👇
- Go to the Berachain Faucet website.
- Make sure your wallet has at least 0.001 ETH on the Ethereum mainnet.
- The faucet allows one drip every 8 hours.
- Enter your wallet address and click “Drip Tokens”.
- Then, you will receive 1 free testnet $BERA token
3. Swap tokens and provide liquidity in BEX
BEX, Berachain’s native DEX (decentralized exchange), lets you trade any crypto asset pairs by swapping or providing liquidity. In addition, specific pools in BEX are rewarded with governance token $BGT when users provide liquidity. How to participate 👇
- Go to BEX’s swap page and connect your wallet.
- Choose the tokens you want to swap, click “Preview”, then “Swap”.
- You can swap $BERA for $HONEY or $WETH.
After receiving $HONEY and $WETH, we can add liquidity to the HONEY-WETH Pool (also support $Honey-USDC/WBTC/WBERA & more).
- Go to the menu and click “View Pools”.
- Enter the amount you want to add, then click “Preview” and “Add Liquidity”.
- To view your LP tokens, return to the main BEX page and click “My Pools”.
4. Redeeming $HONEY for Stablecoins on Honey
$HONEY is Berachain’s native stablecoin, backed by or mintable from various crypto assets. Let’s walk through the steps to redeem HONEY for stablecoins:
- Go to the HONEY website on Berachain and connect your wallet.
- Click “Redeem”, approve the $HONEY amount, and click “Redeem”.
- After the swap, your stablecoins will appear in your wallet.
5. Providing $HONEY in Berps to Earn $bHONEY
Berps is a decentralized leveraged trading platform for perpetual futures contracts, using stablecoin $HONEY as collateral. You can earn by depositing $HONEY into the bHONEY vault, where you receive trading fees and act as the counterparty to traders. The vault also offers governance token $BGT as reward. How to participate 👇
- Visit Berps website and connect your wallet.
- Go to the menu and click “Vault”, then scroll to the “Deposit Honey” section.
- Enter the amount, click “Approve HONEY” and “Deposit Honey”
6. Lending Liquidity on Bend
Bend is Berachain’s lending protocol. Lenders deposit stablecoins to earn fees when others borrow, while borrowers can use crypto collateral (wBTC, wETH) to borrow Berachain’s native stablecoin $HONEY. In addition, Borrowers can earn $BGT rewards. Here’s how 👇
- Go to the Bend website and connect your wallet.
- Click “Borrow Honey” and go to the “wETH Deposit” section.
- Deposit $wETH as collateral to qualify for borrowing $HONEY.
- Click “Borrow”, enter the amount of $Honey you want to borrow.
- After borrowing, you can check how many $BGT rewards you are earning.
7. Managing $BGT at BGT Station
BGT Station is where you manage everything related to $BGT, including: reviewing reward vaults and validators, delegating or unbonding $BGT, redeeming $BGT for $BERA and claiming $BGT rewards. How to participate 👇
- Go to the BGT Station website and connect your wallet.
- Scroll down, click “BHONEY”, then deposit $bHONEY tokens that you have.
- After depositing, you can check how many $BGT rewards you are earning.
