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"Berachain's Boyco App Launches, Attracts $2.3 Billion in Pre-Deposits"

Coin WorldWednesday, Jan 29, 2025 1:00 pm ET

1min read

Berachain's Boyco App Launches, Attracts $2.3 Billion in Pre-Deposits

Berachain, a layer-1 blockchain project, has launched its Boyco app, a pre-launch liquidity platform that has already attracted over $2.3 billion in pre-deposits. The platform allows applications to negotiate directly with liquidity providers, streamlining the process of securing liquidity.

Boyco is a tailored implementation of Royco, a platform on Berachain that facilitates the creation of liquidity markets. The launch of Boyco coincides with the upcoming mainnet launch of Berachain, which is expected to occur as early as next week. Berachain's mainnet launch is highly anticipated, as it could potentially rank among the top chains by total value locked (TVL).

Upon its launch, Boyco experienced high traffic, causing the website to lag and become slow. The team behind Boyco quickly addressed the issue by overhauling the backend to match the scale of demand. The platform's total value locked (TVL) has since surged, reaching over $113 million, with the inclusion of pre-deposits pushing the figure to $2.3 billion.

The supply of BERA, Berachain's native token, on Boyco represents 2% of the total supply. This allocation was increased from the previously announced 1.5%, surprising the community. Boyco is designed to bridge the gap between the development of decentralized applications (DApps) and their eventual launch on the mainnet, allowing users and investors to interact with the ecosystem ahead of time.

Boyco's launch has generated significant interest, with users eager to deposit assets and generate interest. However, some users have expressed concerns about the high network fees required for pre-depositing on the platform. As Berachain's mainnet launch approaches, the crypto community eagerly awaits the project's progress and potential impact on the blockchain landscape.

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