Berachain May 6 Boyco Unlock Countdown 20hrs $BERA 🐻
Will $BERA 🐻 meet its end or rise from the ashes?
It is well known that $BERA has dropped significantly this month (-40%), mainly due to the anticipated selling pressure from the upcoming Boyco unlock.
💡 Boyco assets will be unlocked tomorrow evening at 20:30
💡 On this day, 2% of the $BERA tokens (10M) will be unlocked at once
💡 The outflow of funds from Berachain has already slowed down last week.
First type of person: I want to quit and withdraw, what should I do?
1️⃣ Some agreements require you to specifically go to the official website for redemption, such as @ConcreteXYZ and @Stake_Stone. It is important to note that withdrawals from these firms will enter a 24-72 hour withdrawal queue.
- @origami_fi: There are two steps: Retrieve your LP token from the Boyco page, then go to the Origami page to withdraw USDC.
https://t.co/3manmznwmG
2️⃣ If you are a player directly participating in Boyco, you can redeem directly on Royco. The website is here: https://t.co/8FQOWbfhH7
The official team has also prepared documents to enable more players to transfer funds in one click to continue earning.
⚠️ If your funds are deposited in the pre-pre deposit vault, your rewards will not be displayed in the checker.
⚠️ When withdrawing assets, if you need to swap, you will definitely face price difference risks, like HONEY < > USDC, or the costs of crossing Layer0 may suddenly spike; please be cautious during cross-chain transactions.
Second type of person: I want to continue being a bear farmer 🐻 👨🌾 What other mines can I play with the funds withdrawn?
Currently, several teams have already proposed measures to transfer the funds released from the Boyco unlock, meaning they are ready to accept these funds so everyone can continue farming.
This is quite reasonable because it's also an opportunity for every protocol to capture more TVL. Let me mention a few protocols as examples:
- @beraborrow: Will launch the Beraborrow Managed Leverage Vault tomorrow. Funds from users participating in Boyco will be automatically transferred in without extra steps.
- @Lombard_Finance: Supports participating users to upgrade to the most anticipated new DeFi strategy library on Lombard with one click.
Here, I also found that @BerachainCN had already provided a very comprehensive guide for this part of the players earlier.
Whether it's $BTC, $ETH, stablecoins, or $BERA, there are opportunities for all!
In addition, there are detailed steps for asset withdrawal, which can be referenced here:
https://t.co/MyYkx2UF7c
Third type of person: I am not sure if I want to continue playing Berachain, what information should I pay attention to?
I fully agree with what @jimcurrywang mentioned in his tweet today; $BGT is undoubtedly the most important asset in the ecosystem. A lack of buying power means that large holders also have no confidence.
https://t.co/E4zYzo01yn
So when $BERA drops to a point where it makes everyone lose confidence, the first thing I bought was BGT related assets (iBGT, LBGT, etc.). My observation is that iBGT/BERA did not drop significantly 👀
For further information, refer to credits to @0x_ultra.
https://t.co/0sFOQ2W6qg
Back to the point regarding everyone's confidence in Berachain moving forward, you can also refer to a few key pieces of information:
1️⃣ Outflow of funds. As mentioned earlier, due to Coin Research's DeFi weekly report, we record the top 3 inflows and outflows weekly, which helps us grasp the inflow and outflow of funds for each chain.
The outflow of funds from Berachain started to slow down last week, so I believe the Boyco unlock is less likely to be as disastrous as everyone expects. Of course, we still need to continue observing on-chain data.
2️⃣ Whether the official team has made any preparations in advance regarding the potential impact of Boyco on the ecosystem. Seeing the document they released, honestly, I think it shows some sincerity, but for those players whose returns may fall short of expectations, are there other favorable aspects to look forward to? This also needs continuous attention.
After all, Bera has been running in DeFi for a while, while other types of protocols are just starting to launch. It would be a pity if it were to die in its infancy. Frankly, I do not believe that the FDV of $BERA will fall to the level of $MOVE. I hope for a short-term rebound to boost morale.
