Berachain, a promising Layer 1 blockchain, is making waves by attracting $1.6 billion in liquidity on the 'Boyco' platform before officially launching its mainnet. With this total value locked (TVL), #Berachain could rank 10th among the top blockchains currently.
Liquidity Surges on Pendle Pools
In just the past week, four Pendle pools of Berachain (initiated by Ethena and Etherfi) have reached a total TVL of $515 million, far surpassing the competitor #Spectra with a TVL of $225 million since December.
• Largest pool: liquidBeraBTC
• TVL: $271 million.
• Supported by 8 different protocols, 4 of which have not yet launched.
• Projected yield (APY): 1.575% in 3 months, based on estimates from @PendleIntern.
Attractive But Full of Risks
Participants currently cannot withdraw liquidity until 90 days after the mainnet officially goes live. However, this does not deter a wave of 'farmers' seeking opportunities from airdrops.
Pendle is becoming the 'new ICO' platform as projects leverage it to raise funds and increase liquidity before launching their tokens. However, high yields come with many risk assumptions related to fully diluted value (FDV), TVL, and airdrop allocation ratios.
Conclusion
Berachain is showing great potential in competing with leading blockchains. However, users should be cautious of attractive forecasts that come with considerable risks. Is this a turning point for DeFi, or just a short-term 'frenzy'?
Please monitor and prepare your investment plan carefully! #anhbacong