• General

  • Request for Comment: BeraChain - OIP

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

      curious about the thought process behind having a separate governance token and fee token.
      (On a related note… instead of offering OHM 500k in fee token, just make OHM the fee token, I know that sounds a bit too much, but still would love to hear why not. EDIT: I see the answer to that now . thanks smokey!)

      Had the honor of reading the Berachain whitepaper, and it was a blast to see POL being including within the consensus mechanism itself.

      I think this would be a interesting venture to see how Olympus performs in a isolated environment where liquid rails haven't been established yet (e.g in Ethereum, ohm is better off making an thick OHM-ETH and OHM-USD pool, rather than making smaller more connecting rails to many assets). With the synapse integration, adding Berachain to proteus looks like an easy add.

      The biggest elephant in the room is whether there is demand for yet another chain, but I think a 500k investment is worth the risk (especially if we're getting 2% for the price of 1%)

      Bera chain fixes this

      Asfi

      If we yield to "perception" and it is a big concern for "Do central banks X"

      ciao Marketing
      ciao Grants
      ciao etc
      Econohmy Pillars Outline --> Trash it

      Totally understand what you mean though…

      my 0.02

      btw killer AMA by the BeraChain team today encourage everyone to check it out🙏

        berachain fixes this

        Hi,

        Could you elaborate the valuation of this Berachain. For a startup and new venture in crypto I find the valuation quite high. Thank you.