For reference, both the Kaia chain and Berachain currently have completely empty leaderboards.
Since there are no rewards, it seems that no one is paying attention and yapping, so the Mindshare itself appears to be very low.
I wrote a post about @LairFinance in the morning, and as of the 7th, Berachain ranked 69th, while Kaia even ranked 20th on the 7th and 33rd on the 30th, making quite a splash(?).
After buying Bera, the price has already dropped, so I will quickly put it into restaking to receive APY.
I know that the Bera chain has the Bera token and the BGT token, but I was unsure how to acquire and bring BGT, so I was contemplating what to do. Fortunately, Lair Finance allows not only BGT but also BERA and wBERA to be restaked directly.
I am staking a total of 100 BERA and receiving 94.4 lrBGT. Currently, I am not sure if it is due to the price difference between BGT and Bera or if lrBGT is increasing in value based on APY.
One peculiar thing is that it felt like they were giving tokens at the same time as restaking. The screen above was what I saw just as I was about to approve in the Rabbit wallet.
So... are they giving WBera, Lair, a bit of iBGT, and fully giving LrBGT?
I was curious if that was true, and indeed WBERA came in, so I restaked it again. And, oh? When I restaked, they gave me LAIR tokens again? This time it seems they are not giving WBERA.
Looking at this, it seems they are giving out tokens completely to encourage restaking since the TVL is low right now. The APY is in the 200% range, and if you put it in, it gives a crazy efficiency of 3.4% back in tokens, haha.
Anyway, after restaking, I easily became a LAIR holder.
Later, they said they would also give KAIA and INJ as restaking rewards, so this DeFi that is quietly active is giving out a lot to revive the dApp ecosystem, haha. I'm at a moment of contemplating whether to buy more Bera and leverage short it.
I usually have a personality that feels the need to try out a protocol directly once I start yapping about it.
Earlier, I wrote about @LairFinance, and in the case of Kaia, I have been using it frequently since the Klaytn days, so I'm familiar with it. However, I have been avoiding Bera Chain for a while.
But this time, with LairFinance, if I include Bera and restake it as lrBGT, it actually promises considerable rewards.
So, for the first time in my life, I thought about buying $BERA tokens. However, I had only heard that the ecosystem of BERA has been quite damaged, and I didn't know what the current price was, so I naturally inquired again with @Surf_Copilot to ask if the current price is at the bottom.
They quickly checked the chart and told me that the current price of $2 is not the bottom, and that the current bottom for Bera is forming around $1.6-$1.7. In other words, there is about a 20% downside risk.
The response strategy for this is to either hold a 3x or 10x short position, or if the APY remains the same, it can be calculated that it will be around 34% minted. However, since the APY is very likely to drop (the more funds come in, the lower it goes), it is better to respond with a short position.
This time, the amount I am participating with is not large, so I will not short but will just buy Bera tokens from the exchange, send them to the chain, and attempt to restake.
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