Big reminder that, i'm a bera worker first and last, only reason i mention anything is purely because i notice a problem that needs to be fixed
we're the least project to extract value from berachain, IVX team could've at any point in time deployed value extractive fork and generated 100ks of fees in private (not saying that we would not, IVX is the priority at the end), but my focus was always on trying new things, always, i'd leave the secondary games for other people to build, i'd rather have a "value_provided / value_ taken" ratio to be as close to 1 as possible, and everything im deploying next is +EV berachain (some are even for $BERA token, some are not)
beras will win
The flow in Berachain $BERA token design is that the optimization to benefit from the chain upside is being done completely on a soft pegged $BERA, but with 0 hard correlation to $BERA token
- if bribes up > you need to buy LSTs ( $iBGT , $LBGT ..) which reflect in 0 buying power on $BERA
- BEX fees up > you need to buy LSTs, same issue
- Chain fees are peanuts so we will not account for
Only edge for $BERA is to be staked in the validators for 5% yield and a tiny share of the bribes (you have less than 50 validators, where you need 1 or 2 of them to be active and competing, max is 10m $BERA)
Pseudo-rebase tokens worked because it requires people to lock the token for multi years ( $veCRV $veVELO $veAERO ), where here, buying power on $BERA doesn't exist
- someone would argue that price follow attention?
well yes, but that's not what you should optimize for, and the market clearly not going in this direction
- someone would argue that $BERA could be locked to be LPed with eco token?
with time, im thinking that LPing with $BERA is the wrong approach and should rather LP with $BGT LST (that what we had planned with $IVX early on) or LP with $HONEY
- someone would argue that "the base floor case for BERA is to be a simple POS chain, and rest is upside no"?
i'd argue that Berachain is an ETH hard fork, so you don't have an upside offering another POS chain, and no one cares, Berachain power is in its economic design, where i'd see Berachain as Defi super app rather than a chain, which is mostly the case
- someone would argue that "the point is to have $BGT unclaimed and by that inflation is low right"?
Well, that's not how rational investors think, and not everyone can claim BGT without financial activity, and with the rate of inflation, all value will be locked mostly in $iBGT rather than in $BERA or even $BGT (because you can take an financial upside by buying $iBGT rather than financially contributing to the chain), by that, also unvalid point
This is not a fud post, i'm just curious of a public discussion of what the end goal is, and why exactly you should buy $BERA
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