Although its mainnet has not been launched, Pershin It has raised more than $1.7 billion from deposit vaults as investors seek rewards to help provide liquidity for the protocol.

Pre-launch deposit lockers, which were opened in cooperation With Berachain, users are allowed to deposit a roll Bitcoin, Ethereumand other assets backed via protocols like StakeStone or Lombard Finance for early access to Berachin – a highly anticipated layer-one blockchain network.

Deposits are currently split across 12 different protocols, all of which provide users with access to Berachain before its next big move. Boyko- It is described as a “pre-launch liquidity platform designed to help Berachain’s application layer turn momentum into early growth.”

In other words, users will be able to deposit funds to help protocols on the emerging blockchain with early liquidity, with the goal of making them more successful from day one.

Users participating in available pre-launch vaults get a head start on Boyco, and eventually a head start on rewards in the Berachain ecosystem.

“Apart from just being a good way to engage the community early, these vaults are a simpler way to stack rewards before Boyco launches, with a one-click user experience across a few different verticals.” books Berachain team member by pseudonym, The knowledgeable person

All of this seems to be in demand, and the rewards vary based on the vaults users deposit into or the protocols they interact with. For example, those who deposit with Lombard Finance receive stacked rewards from Berachain, Lombard, Babylon, Concrete, Kodiak, and Dolomite – projects that aim to play an important role in the Berachain ecosystem when they launch.

Likewise, stacked bonuses are available to depositors in StakeStone vaults, which contain more than 450 million dollars According to the Dune dashboard created by the Berachain community The Honey Jar.

Only EtherFi has attracted more funds than StakeStone to date, holding approximately $480 million in deposit vaults prior to launch at the time of writing.

With a cumulative total value of over $1.7 billion currently, Berachain's pre-launch vaults alone would make it the 10th largest blockchain by TVL according to data from Devillamasurpassing blockchains such as Avalanche and Apartments In this process.

The exact details about the rewards and tokens are still unknown, but Perachin has put it aside more than 1% From its token offering to Boyco, its pre-launch liquidity platform.

Although the launch timeline for the Berachain mainnet has not been officially revealed, the pseudonymous project leader is Smokey the Bera. Shown It will come just weeks after the launch of Boyco.

Berachain is built around a new consensus mechanism called Proof of liquidity. The project recently announced $100 million in funding to continue building the Ethereum virtual machine-compatible blockchain.

Modified by Andrew Hayward