gBERA Introduction

The new, revolutionary LST on Berachain by Smilee Finance

Long Story Short

The success of protocols like Lido on Ethereum clearly showed the user demand for Liquid Staking Tokens (LSTs). LSTs enable users to contribute to network security while engaging with DeFi at the same time, from borrowing to swapping to margin trading.

Berachain, focusing on capital optimisation and LP incentives, needed its own LST too, but it had to be better than what’s out there.

That is why we are introducing gBera: a decentralized liquid staking token for $BERA.

With extra perks!

Find the Github Repository here: https://github.com/smilee-finance/gbera-contracts

How gBERA works

By staking your $BERA into the gBera smart contract, you receive $gBERA, a rebasing ERC20 token that automatically increases in your wallet as it accrues rewards from Berachain validators. Being a valid ERC20 token, gBERA works seamlessly with any protocol on Berachain, allowing you to deploy it across the entire ecosystem of Bera-dapps.

Extra Rewards

Berachain features a novel Proof-of-Liquidity (PoL) consensus mechanism, using a triple token model:

• BERA: The native gas token used to pay for transactions.

• BGT (Berachain Governance Token): A non-transferable token earned through providing liquidity or staking specific protocols’ LP tokens. BGT can be delegated to validators to boost their reward rate or it can also be converted at a 1:1 ratio to $BERA. Validators on Berachain receive rewards in both BERA and BGT.

• HONEY: The native stablecoin used within the ecosystem.

By staking BERA through gBERA, you indirectly benefit from this system, as gBERA accrues value from the rewards earned by the underlying staked BERA, auto-boosts its validators with BGTs until reaching max boost, and the extra rewards are swapped back into BERA to increase the gBERA amounts in every holder’s wallet.

Magic, isn’t it?

About Withdrawals

Withdrawals aren't enabled currently on Berachain, until then unstaking from gBera won't be possible! You can cash out using the gBera-Bera dex pool, although there is no guarantee on the gBera price.