Despite not having launched its mainnet, Berachain has raked in more than $1.7 billion in deposit vaults as investors seek rewards for helping bootstrap protocol liquidity. 

The pre-launch deposit vaults, which opened in collaboration with Berachain, allow users to deposit Wrapped Bitcoin, Ethereum, and other supported assets via protocols like StakeStone or Lombard Finance in order to gain early access to Berachain—a hotly anticipated layer-1 blockchain network.

Deposits are currently split across 12 different protocols, all of which are offering users access to Berachain before its next big step, Boyco—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 nascent blockchain with early liquidity, aiming to make them more successful from day one. 

Go to Source to See Full Article
Author: Logan Hitchcock