StakeStone opens a vault to deposit assets for Berachain
StakeStone launches Berachain Vault
StakeStone, a multi-chain liquid staking solution for ETH and BTC, has announced that it has added support for Berachain and opened a vault to deposit assets for two tokens, beraSTONE and beraSBTC. The project affirms that this is a way to participate early in Berachain, a layer-1 project that is being eagerly sought after by the crypto investment community.
The Berachain Vault on StakeStone allows users to explore the first products developed on Berachain, notably Boyco - a platform that provides early-stage liquidity support for projects on this layer-1; as well as experience the Proof of Liquidity (PoL) mechanism and start accumulating reward points.
When participating in this Vault, liquidity providers will receive: reward points from Berachain and Boyco; token airdrops, staking and reStaking rewards from StakeStone; and future profits from Proof of Liquidity.
Currently, the Vault only supports the beraSTONE token, with beraSBTC to be introduced in the near future. beraSTONE and beraSBTC will later be widely integrated into other DeFi solutions, allowing users to set up effective investment strategies on Berachain.
How to use the Berachain Vault
- Step 1: Connect your wallet to StakeStone here, then convert ETH, WETH or STONE on Ethereum to beraSTONE.
Users will receive an additional 10% Bera-Wave Points if they enter a referral code from someone else.
- Step 2: Deposit assets into the Berachain Vault to start accumulating Bera-Wave Points rewards. Please note that the Berachain Vault is on the ETH network.
Users can also use beraSTONE to provide liquidity on other DeFi protocols.
The Berachain Vault has been open since 12/25/2024 and has quickly attracted a large user community, reaching $100 million TVL in just 24 hours after launch. Currently, the value of assets deposited in the vault has reached over $275 million.
$100M+ TVL reached in the StakeStone @berachain Vault with 30k+ users locking in their trust.
— StakeStone (@Stake_Stone) December 26, 2024
The numbers don't lie - this is just the beginning. 👀 pic.twitter.com/6biZfqPNHI
StakeStone allows users to flexibly convert between beraSTONE/beraSBTC and other assets through DEX, while the Vault will operate from now until updates on the Berachain mainnet.
Rewards from the Berachain Vault
StakeStone will allocate a reward pool worth 8.25 million STO for users with Bera-Wave Points. Users will receive Bera-Wave Points for holding or trading the two tokens beraSTONE and beraSBTC, or using a referral code from someone else.
The reward points calculation formula is as follows:
- 1 Bera-Wave Point for 1 beraSTONE held per hour
- 25 Bera-Wave Points for 1 beraSBTC held per hour
From now until the launch of Boyco, holders of beraSTONE and beraSBTC will have their reward points doubled.
Additionally, users can receive up to 5-6 times the Bera-Wave Points if they provide liquidity for the 2 tokens on the DEX Uniswap, Pendle and Morpho in the future.
The referral reward is also applied to Bera-Wave Points, where the referrer will receive up to 20% of the total points of the referred user, and new users who enter a referral code from someone else will receive an additional 10% of the reward points.
StakeStone will also allocate more STO tokens to Boyco, and commit rewards from Boyco and other projects in the Berachain ecosystem to participants in the Berachain Vault.
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