How to qualify for the Berachain Airdrop

Introduction

Berachain is a DeFi-focused Layer 1 blockchain that is EVM-compatible and built using the Cosmos SDK. It employs a novel consensus method called Proof-of-Liquidity, which requires staking tokens obtained by providing liquidity to various applications on the network. Berachain aims to better align validators and stakers with the applications built on its chain. It offers unique features such as a custom EVM called Polaris, embedded liquidity pools, and three native tokens: BGT (Bera Governance Token), BERA (the gas token), and HONEY (a stablecoin).

Berachain has raised a total of $211 million across multiple funding rounds. The most recent and largest funding round was a Series B round held on March 15, 2024, where they raised $100 million. The Series B round resulted in a post-money valuation of $1.5 billion. Previous funding rounds include a Series A round on April 21, 2023, for an undisclosed amount, and another Series A round on December 1, 2022, which raised $42 million.

Once Berachain's mainnet is launched, an airdrop is expected to target early users of its testnet. Although the airdrop has not been officially announced, there is speculation that it will reward users who have interacted with the Berachain ecosystem during the testnet phase. In this article, we will cover how you can qualify for this airdrop.

Testnet

To participate in the Berachain airdrop, you need to actively engage with the Berachain testnet network. Here’s a step-by-step guide to get you started:

1. Add Berachain to Your Wallet:
   1. Add the Berachain network to your wallet.
   2. Acquire some $BERA gas fee tokens through a Berachain faucet or any other suggested faucet.
2. Engage with the Berachain Network:
   1. Once you have testnet $BERA tokens, you can interact with the Berachain network for example by swapping to the $HONEY Stablecoin:
      1. On Berachain, you can earn $HONEY testnet stablecoins by swapping $BERA for STGUSDC on the Berachain DEX.
      2. Exchange those STGUSDC for $HONEY on the Honey website.
      3. $HONEY can be used in various DeFi protocols on Berachain, including:
      4. BEX: Provide $HONEY and exchange it for $BERA, WETH, WBTC, and STGUSDC, or provide $HONEY into LPs paired with any of these tokens.
      5. Berps: Trade multiple pairs using the $HONEY stablecoin on this native perpetual exchange.
      6. Bend: Lend or borrow $HONEY or other tokens, similar to other decentralized lending protocols.
3. Get and Delegate $BGT Tokens:
   1. Provide liquidity on BEX to receive Berachain testnet governance tokens, $BGT.
   2. On the BGT station, delegate these tokens to validators and start earning $HONEY from the node runners to whom you delegated your $BGT.
4. Mint NFTs:
   1. Mint NFTs on “The Honey Jar” and other platforms like Metaverse HQ by completing social tasks.

Galaxe quests

Galaxe quests offer a fresh approach for ecosystems to attract users by creating comprehensive campaigns that encourage interaction with the blockchain. Berachain has embraced this method by setting up its own Galaxe quests. These quests provide users with specific tasks, helping them become familiar with the chain's features and functionality. It's important to note that rewards from Galaxe quests are typically allocated differently than those from the testnet. Therefore, participating in both the Galaxe quests and the testnet activities can provide a multiplier effect, maximizing the potential rewards for users. This dual approach incentivizes deeper engagement, broadens the user base, and strengthens the ecosystem.

Let's Get That Berachain Airdrop

Participating in the Berachain airdrop is an excellent opportunity for early adopters to engage with a promising DeFi-focused Layer 1 blockchain. By actively interacting with the Berachain testnet and completing tasks on Galaxe quests, users can maximize their potential rewards and become integral members of the Berachain ecosystem. This dual engagement strategy not only enhances individual rewards but also contributes to the overall growth and strength of the network. Stay proactive, complete the tasks, and get ready to benefit from Berachain's innovative approach to decentralized finance.