【🐻Berachain V2 Update: What you need to know at a glance】

🔸Main contents include:

⎖Technical update

⎖Guages ​​update

⎖Interactive content update

🧵👇

🔸Technical update

⎖More user-friendly: There is no risk of slashing when delegating BGT.

⎖Requirements for validators: Validators need 69,420 Bera as collateral to activate the validator. Once misbehavior occurs, Bera tokens will be slashed.

⎖Give more validators opportunities: The number of validators is expanded to 128, and each validator will get a more equal opportunity to generate blocks.

⎖Fully compatible with EVM: Berachain V2 switches from Polaris architecture to BeaconKit, which not only improves performance, but is also "fully compatible with Ethereum"

🔸Major update: Gauges

⎖Gauges is a smart contract where users can stake assets to get BGT rewards.

⎖Gauges is a BGT mining function with a low threshold to facilitate ordinary users to enter the PoL ecosystem.

🔻Take the Berachain Foundation as an example, assuming that it wants to incentivize the $bHONEY indicator.

⎖They set up an incentive proposal to provide 1 wBTC and 1 wETH as a reward for each BGT emitted to the $bHONEY Guage.

⎖If the validator emits 0.5BGT to this Gauge, they will receive 0.5wBTC and 0.5wETH as a reward.

🔻The conceptual flywheel is as shown above:

⎖Users deposit assets into a Gauge.

⎖The protocol provides incentives to this Gauge.

⎖The validator discharges the output BGT into the Guage and obtains the incentive of the protocol.

⎖The user provides LP to the Gauge, so he gets the BGT reward discharged in return.

⎖As a result, the TVL of the protocol Gauge increases, users receive BGT rewards, and validators receive protocol incentives.

🔸Update of interactive content

All data of the V1 version is cleared, including interaction records and test coins, so it is necessary to start over.

The V2 testnet has a new update, let us briefly introduce it.

1️⃣Facuet: https://bartio.faucet.berachain.com/#dapps

⎖Currently 1BERA can be obtained every 8 hours, but the requirement is a 0.01ETH balance on the main network.

2️⃣BEX: https://bartio.bex.berachain.com/pools

⎖Among all the pools, only the HONEY-WBERA pool is currently eligible for BGT emission.

⎖However, Bex's LP pool will not be the most efficient place to obtain BGT, because the TVL is too high and the BGT allocated to users will be diluted.

3️⃣HONEY: https://bartio.honey.berachain.com

Currently, in the V2 version, the Mint function of HONEY is decorative. Only after the mainnet is launched, users will mint cross-chain USDC into HONEY.

4️⃣BEND https://bartio.bend.berachain.com/dashboard

⎖Bend was not fully enabled in V1. In V2, users can get BGT returns from here.

⎖Lender: Deposit WETH or WBTC as collateral and borrow HONEY to get BGT.

⎖Borrower: Deposit Honey to get loan interest, but it cannot be used as collateral or to get BGT.

5️⃣BERPS: https://bartio.berps.berachain.com/berpetuals

⎖Bearchain's perpetual contract uses HONEY as collateral, at least 10. The current transaction and execution speed has been greatly improved compared to V1.

6️⃣BERPS Vault: https://bartio.berps.berachain.com/vault

⎖Provide a vault with extra HONEY for leveraged users of perpetual contracts.

⎖The TVL here is usually lower than that of the BEX Pool, so the BGT allocated will be more (generally speaking).

⎖It should be noted here that after depositing HONEY, users will receive bHONEY LP tokens.

⎖Users need to deposit this LP token into Guage to obtain BGT.

👉bHONEY Gauge: https://bartio.station.berachain.com/gauge/0xc5cb3459723b828b3974f7e58899249c2be3b33d

7️⃣BGT Gauge: https://bartio.station.berachain.com/gauge

⎖Here you can view the smart contract pool that can obtain BGT returns.

⎖There are only three at the moment. BEX/BEND/BERPS

⎖For the protocol, you can set their Gauge and incentives here, so that users can deposit money into the Gauge and validators can emit BGT into it.

8️⃣ Delegate BGT: https://bartio.station.berachain.com/delegate

⎖After obtaining BGT from the above protocols, the way to maximize the benefits is to delegate.

⎖In this way, when the user's delegated validator generates a block and obtains BGT rewards, they will share part of the rewards with the BGT delegator.

9️⃣Go to the reward interface: https://bartio.station.berachain.com/rewards

⎖The reward interface can clearly view the rewards and collect BGT with one click, making it convenient for users to manage assets.