Previously mentioned, although I TP'd my $BERA position between 4.1-4.4, I still kept my iBGT exposure. Firstly, the yield from iBGT is very appealing; although the price has dropped somewhat, the earnings mined earlier have already covered the losses in price. Secondly, holding iBGT also allows me to earn some Infrared points, participate in airdrops, and it is expected to be available in the Binance Wallet IDO and go on contract (invested by Binance). Currently, my Infrared Points Rank is within 400.

If you want to mine Infrared points, storing LP is also an option, or you can store LP according to the set point multiplier. If you have a high-risk preference, you can store WBERA-iBGT LP, which has a point multiplier of 1.75x. If you prefer lower risk, you can store stablecoins, which have a point multiplier of 1x.

Moreover, I still have some expectations for Berachain, which is why I left a position on-chain. From the PoL v1.1 proposal, the team has now realized the issues and hopes to solve them by weakening the value capture capability of $BGT and enhancing that of $BERA. I have written about this before.

Now Infrared has released some interesting updates, and I would like to share my own perspective.

1. Infrared's Layout

Infrared has added a Swap function to its products through EnsoBuild—users can complete token exchanges without leaving the Infrared page.

The key point here is not just about a simple Swap function, but to see that Infrared aims to expand its product influence to all levels of the ecosystem.

This model is very similar to the DeFi protocols on Solana, which, after achieving large-scale adoption of their own products, leverage their user base to create new products for growth, ultimately forming a comprehensive product ecosystem. Infrared is no different.

By doing this, it enhances the fundamentals of its own products and raises market expectations for its points (currently not very obvious, like boiling a frog in warm water).

2. Infrared x Pendle

Infrared collaborates with Pendle to offer iBGT point bonuses. Previously, @0xYond discussed this, so I won’t elaborate further here.

If it were me, wanting to farm iBGT APY with minimal risk (what else do you need for the current iBGT price?), a very good choice would be ⬇️

Buy iBGT through OogaBooga (DEX aggregator, best liquidity), then store iBGT PT in Pendle. Currently, the probability of losing money at 400% APY in U value is quite low. If hedging $BERA, the exchange rate fluctuations can be a bit large.

iBGT YT's involvement premise is: bullish on iBGT’s staking yield and point subsidies. The core logic is to predict the trend reversal of the Berachain ecosystem faster than others. For example, if you observe that liquidity starts to flow back to Berachain, or a blockbuster emerges in the Berachain ecosystem and needs to bribe BGT nodes to increase emissions, we can foresee the potential income growth of iBGT, thus making the decision to purchase YT.

Or before the Infrared TGE, if you believe the current price is undervalued, you can buy YT.

In simple terms, the cooperation with Pendle essentially aims to refine the point system to attract more participants. The higher the liquidity, the more fully the market prices it, and Infrared can better formulate its TGE opening strategy.