The Problem:
Before Royco, participating in a new chain launch was hard. Retail LPs would rush into the new chain and farm a seemingly endless points program that would inevitably disappoint them. The chain, the applications, and most importantly, the users weren’t happy.
Then, Royco launched the CCDM and changed everything.
What is the CCDM?
The Cross-Chain Deposit Module (CCDM) is a Royco-built system that enables protocols to incentivize users to commit assets on a source chain towards agreed-upon actions (supplying, LPing, swapping, etc.) on a destination chain. As a user, you’ll know exactly what you’re being rewarded for depositing on a source chain.
Boyco: The First CCDM Implementation
Berachain, an EVM-identical L1, is the first to use Royco’s CCDM through their implementation called Boyco. Developed in collaboration with Royco, Enso Finance, and LayerZero, Boyco has already attracted over $2.2 billion in pre-deposits.
Royco enables Berachain to incentivize liquidity and enables users to deposit and negotiate for more incentives onchain.
Enso scripts automate the execution of liquidity deposits, simplifying Royco recipe markets into a single transaction
LayerZero and Stargate are safely bridging the liquidity in Royco markets from Ethereum mainnet to the destination chain, Berachain.
During Boyco, users will see over 100 Berachain markets that allow them to deposit a single sided deposit or a two sided deposit. The single sided deposits will go into applications like a money market pool, and two sided deposits (stable and volatile pairs) will go into concentrated liquidity positions.
These Boyco markets will be rewarding depositors with various amounts of BERA and app level incentives. For information on what these markets are, refer to this link.
The program will run for a few days on Ethereum mainnet before the liquidity is bridged over to Berachain and the lockups are enforced there. We’re excited to see the program go live and to usher in a new era of bootstrapping blockchain ecosystems.
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