Boyco Launches on Berachain with $2.2 Billion in Pre-Deposits
On Tuesday, the innovative liquidity platform Boyco officially launched on the Berachain blockchain, boasting an impressive $2.2 billion in pre-deposits. This pre-launch liquidity platform is the result of a collaborative effort between Enso, Berachain, and LayerZero. Designed to address the cold start problem that often hampers new decentralized applications (dApps), Boyco ensures that these applications have sufficient liquidity from the very beginning. This strategic approach aims to help dApps attract users instantly upon their debut, providing them with a competitive edge in the rapidly evolving DeFi landscape.
At the heart of this initiative is Royco, a protocol on Berachain that facilitates the creation of liquidity markets where various protocols can negotiate terms with liquidity providers (LPs) for securing necessary liquidity. Specifically, Boyco serves as a tailored implementation of Royco, optimized for the mainnet launch of Berachain.
Through the Boyco platform, applications can establish pre-launch liquidity markets, allowing users to deposit their assets prior to the official mainnet activation. When users deposit their assets into designated vaults, these funds remain locked until Berachain’s mainnet goes live. In return for their participation, depositors may receive rewards in the form of tokens or points from both Berachain and participating dApps.
According to a recent update from the team via a post on X, “During Boyco, users will have access to over 100 Berachain markets that offer options for either single-sided or two-sided deposits. These Boyco markets will be providing depositors with various amounts of BERA and app-level incentives.”
The Boyco program will operate on the Ethereum mainnet until February 3, after which the accumulated liquidity will be transitioned over to Berachain, coinciding with existing lockup provisions, as outlined by the Boyco team. Notably, over 2.0% of all BERA — one of the highly anticipated tokens associated with Berachain — is set to be distributed as rewards for participants in the Boyco initiative.
For more information, you can follow the updates from Royco on their Twitter page.
Berachain is an upcoming blockchain that employs a unique proof-of-liquidity consensus mechanism to incentivize liquidity provision. Over the past year, it has garnered a dedicated following on X, cultivating an enthusiastic community eager for its launch. Adding to the excitement, the blockchain is humorously set to debut in “Q5,” a playful reference to a non-existent quarter beyond Q4, further fueling anticipation for participation in Berachain-related platforms ahead of its official mainnet launch.
