This can be a section from the 0xResearch e-newsletter. To learn full editions, subscribe.
Because the hyped Berachain L1 gears up for a mainnet launch, an astounding $1.6 billion of liquidity has been deposited into “Boyco,” Berachain’s pre-launch liquidity platform on Ethereum. This flood of liquidity from airdrop farmers would technically make Berachain the tenth largest blockchain by TVL at the moment.
Previously week, 4 Berachain Pendle swimming pools (by Ethena and Etherfi) have already amassed a collective $515 million in TVL. This dwarves the whole TVL of its important competitor Spectra, which has shot as much as $225 million since December.
Supply: DefiLlama
The biggest Berachain Pendle market “liquidBeraBTC” (TVL of $271 million) is accumulating factors throughout eight (sure, you learn that accurately) totally different protocols, and 4 of them aren’t even stay but. Withdrawals are additionally locked for 90 days on mainnet launch, however that isn’t stopping airdrop farmers. This rabid pre-launch hypothesis makes Pendle akin to an ICO platform utilized by tasks to bootstrap their tokens.
Supply: Pendle
The YT for liquidBeraBTC is projected to return a 1,575% APY over three months, based mostly on @PendleIntern’s estimates, however beware the host of assumptions round projected FDV, TVL and airdrop allocations.
