Berachain gets flooded with $1.6B in pre-launch liquidity

Berachain’s TVL levels would technically make it the 10th largest chain

article-image

Berachain and Adobe stock modified by Blockworks

share


This is a segment from the 0xResearch newsletter. To read full editions, subscribe.


As the hyped Berachain L1 gears up for a mainnet launch, an astounding $1.6 billion of liquidity has been deposited into “Boyco,” Berachain’s pre-launch liquidity platform on Ethereum. This flood of liquidity from airdrop farmers would technically make Berachain the 10th largest blockchain by TVL today.

In the past week, four Berachain Pendle pools (by Ethena and Etherfi) have already amassed a collective $515 million in TVL. This dwarves the entire TVL of its main competitor Spectra, which has shot up to $225 million since December.

Source: DefiLlama

The largest Berachain Pendle market “liquidBeraBTC” (TVL of $271 million) is accumulating points across eight (yes, you read that correctly) different protocols, and four of them aren’t even live yet. Withdrawals are also locked for 90 days on mainnet launch, but that isn’t stopping airdrop farmers. This rabid pre-launch speculation makes Pendle akin to an ICO platform used by projects to bootstrap their tokens.

Source: Pendle

The YT for liquidBeraBTC is projected to return a 1,575% APY over three months, based on @PendleIntern’s estimates, but beware the host of assumptions around projected FDV, TVL and airdrop allocations.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research

article-image

For just $54, you, too, could send a memecoin 500% higher

article-image

Memecoins, tech, and inflation have dominated the first half of the year

article-image

As the Trump administration continues to test Fed independence, markets are beginning to react

article-image

An Aave interest rate shock prompted over 475,000 validators to exit and pushed stETH into a prolonged depeg

article-image

While Roman Storm’s team is set to present its case, it’s not yet clear if the Tornado Cash founder will testify

article-image

A wireless network inspired by lost drones is now helping telco carriers reach your phone indoors