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  • Request for Comment: BeraChain - OIP

Bera Chain fixes this

B E R A C H A I N F I X E S T H I S

DevBear BeraChain is real! I think it’s a terrific project. My only concern is perception. People will wonder “do central banks make early stage investments?”

Beyond narrative worries, I’m in support of this. I think BeraChain could open really cool use cases for $OHM. Payments even.

Good luck BeraDevs. You’ve got my vote. Onwards.

      Bera chain fixes this.

      Terrific partnership and much needed infra to extend into the cosmos ecosystem🙏

      Hold the crocswap team high regard very interesting to see them involved in development

      Beautiful vanity address (3,3) x (🐻,🐻)

      Berachain fixes this

      BeraChain fixes this!

      Although we've all heard that BeraChain is coming for some time now, I would like to see more information if Olympus will invest such a large allocation in it. For example, who is the team behind BeraChain, how far along are they to a working product, other partners until now, a whitepaper or documentation to get more information. Or am I crazy to ask for such things?

      Without these then it seems like a risky seed investment to be made by a reserve currency imo. Ohmies that are not in the bera community should be able to find out what this is all about if they see $500k of treasury assets being put towards it.

      It would be nice to see discussion on these posts instead of repeated posts saying 'Berachain fixes this'…

        In the Tri-Token model, it would be nice to see alignment with OHM (given the size of possible allocation). The fee token seems like a great opportunity to not create a new asset, but instead bootstrap and leverage the OHM token instead.

        There's even good opportunity to use infrastructure like our yield redirector to allow users to fund a Berachain wallet with gOHM but redirect yield to cover gas or fees.

          I second people asking for more info, it seems there isn't even a twitter account for the project, where did you learn about it? (apart from people in the DAO who could be directly in touch with the team)

          Don_G_Lover

          Hey Don - we intend to be as closely aligned with Ohm as possible.

          However, when building an L1, we have to consider network security and effectively monetary policy quite seriously. We're looking at integrating a number of different ways to benefit from holding Ohm on Bera, which is one of the reasons this OIP has been assembled and we've worked closely with the DAO teams to discuss potential synergistic crossovers (perhaps as a source of collateral to mint the stablecoin, a default pool for dripped liquidity as the chain starts producing blocks, etc). However, it would be naive for us to tie our network's security to an asset whose parameters we have little to no control over with an already unevenly distributed supply. This point goes holds even more weight in the early days of the chain when network security is paramount, especially considering the inflating supply of Ohm.

          I do appreciate ideas like the yield director etc or payments as @Asfi mentioned and would love to work with our team to evaluate technical feasibility and the expected ecosystem impact of such initiatives. Cheers.

            AlJan

            Hey Aljan - your ask is understandable, so I've answered a couple of your questions, and passed along my thoughts on some others.

            First and foremost, the team behind Berachan consists of myself, Papa Bear and Dev Bear as core members, and is supplemented by a growing team of software engineers with experience from leading firms (FAANGs, hyper growth startups etc). We've built and sold companies, worked on the VC/PE side of the table, degen'd in crypto since 2017, and perhaps most importantly, have built teams that know how to ship scalable software and the infrastructure to build on it to millions of people. We're a couple of months away from a public launch and have a host of partners, some of which are still confidential at the moment. A couple that I'll highlight are the Synapse Protocol which is building custom bridges to all major EVM compat changes and the Cosmos eco for us from day 1 because of how excited they are about the project, and CrocSwap, a next generation single contract dex using ambient and concentrated liquidity to enable some of the largest advancements we've seen in the DEX space for a long time (just in time liquidity, mev-proofing, and much more).

            The $500k investment from Olympus is part of a larger 10 million USD round being led by some of the best known investors (and anons) in the space, so I'd like to emphasize the fact that Olympus is in good company, and isn't taking the majority of the risk in this round by any means. We're cognizant of the number of groups that often take the opportunity to frontrun new and exciting things being built, and as such, will be releasing our whitepaper to the public leading up to the public sale. The teams from the DAO have read and discussed the whitepaper internally at length, and worked with us to craft the OIP, so I can assure you that the same teams who evaluated JonesDAO etc as investment opps are not flying blind. Our intention is to be as transparent and informative as possible in the meantime during events like the AMA, without giving away anything too proprietary.

            I hope this provides some of the color that you're looking for, and I'd like to leave some stuff for people to ask in the AMA. A number of groups adjacent to the Ohmie community are also working alongside or supporting BeraChain, which is why you see people saying "Berachain fixes this" - so maybe consider that as a feature, not a bug. We've tried to build a brand, a community and a vision that people can appreciate, and I love seeing them show up on posts like this. Thanks guys!

              Bera Chain fixes this