Berachain’s liquid staking scene just got a little more interesting. Infrared Finance, the protocol currently leading the Berachain ecosystem in Total Value Locked (TVL) with over $1.5 billion, launched a points program today. It’s retroactive, meaning anyone who’s been staking or providing liquidity on the platform since February is already racking up rewards. Think of it as a frequent flyer program, but for your crypto. And, honestly, who doesn’t like free stuff?
- Infrared Finance, the leading protocol in the Berachain ecosystem, has launched a retroactive points program for users who stake or provide liquidity. This program rewards early adopters and encourages continued engagement with the platform.
- Points are earned by staking iBGT and iBERA or providing liquidity on decentralized exchanges like Kodiak and BEX, with longer holding periods resulting in more points. The program aims to incentivize platform usage and reward user loyalty.
- The points will eventually be convertible into Infrared’s native token, expected to launch in the third quarter of this year. While the exact conversion ratio is yet to be announced, the promise of a token payout serves as a significant incentive for users.
The program isn’t handing out points like candy, though. Infrared’s pseudonymous CEO, Raito Bear, explained that points are dynamically allocated based on what you do. Staking iBGT and iBERA – Infrared’s liquid staking tokens for BGT and BERA – earns you points. Providing liquidity on decentralized exchanges like Kodiak and BEX does too. The longer you hold, the more points accumulate. It’s a simple enough concept: loyalty gets rewarded. But it’s also a bit of a game, encouraging users to really *use* the platform.
Points Mean Prizes (Eventually)
So, what are these points good for? Eventually, they’ll be convertible into Infrared’s native token, slated for launch in the third quarter of this year. The exact conversion ratio is still under wraps, Raito says, but the team plans to announce it closer to the Token Generation Event (TGE). No ticker symbol or total supply details yet, either. It’s all a bit hazy, which is standard for projects still finalizing their tokenomics. But the promise of a token payout is a powerful incentive.
Infrared isn’t just letting you track your points in a dashboard, either. They’re collaborating with partners like Pendle to integrate points into other platforms. It’s a smart move, expanding the reach of the program and offering more ways to earn. They’re also the first project in the Berachain ecosystem to launch a points program, which, let’s be honest, is a bit of a flex. Being first often means attracting the most attention – and the most users.
The protocol itself was incubated by the Berachain Foundation’s Build-a-Bera program, a sort of crypto startup accelerator. And it’s clearly been successful. $18.75 million in funding, backed by YZi Labs (formerly Binance Labs), Framework Ventures, and NGC Ventures, doesn’t hurt either. It’s a solid foundation for a project aiming to become a cornerstone of the Berachain ecosystem. But, as always, remember that past performance isn’t indicative of future results. This is crypto, after all.
Raito added that the points program is expected to run for around three months. So, if you’re looking to get involved, now’s the time. It’s a relatively low-risk way to potentially earn rewards from a promising project. Just remember to do your own research and understand the risks involved before diving in. Because, let’s face it, nobody wants to end up with a bag full of points that aren’t worth much.
