Berachain presents a unique Proof-of-Liquidity (PoL) consensus mechanism that allows all PoL participants (users, protocols, validators) to cooperate in order to enhance ecosystem liquidity. If you’re looking to get rewards and actively participate in shaping the future of Berachain, BGT farming and delegation is the way to go.
This guide will take you through the step-by-step process of easily farming and delegating your BGT tokens.
What is Berachain?
Berachain is an innovative EVM-Identical Layer-1 (L1) blockchain, which means it can run the same applications as Ethereum. Whenever EVM receives an update — such as the Dencun upgrade — Berachain can seamlessly integrate it without any additional effort. This ensures full compatibility with all RPC namespaces and endpoints and benefits Berachain.
Berachain is special because it uses a unique consensus mechanism called Proof-of-Liquidity (PoL). PoL creates a system that rewards those who provide liquidity to the ecosystem, which supports efficient trading, secures the blockchain, and helps the network grow.
Simply put, Berachain is not only about processing transactions but also about involving participants in maintaining liquidity and governance of the network using BGT tokens. If you want to know more about Berachain, read our overview article.
What is BGT, and why you should delegate it?
BGT (Bera Governance Token) is your ticket to participate in the governance of Berachain. Holding BGT allows you to vote on important proposals and shape the future of the network. However, the advantage of this token is not only in governance – BGT delegation also allows you to support validators, receive rewards, and increase your influence in the Berachain.
Ready to get started? Follow these simple steps to delegate your BGT.
How to delegate BGT?
This process involves several key steps, including swapping tokens, providing liquidity, and finally delegating your BGT. It may take a few token transactions, but following this guide will allow you to delegate your BGT and start getting rewards.
Now, let’s move on to the detailed step-by-step instructions.
Step 1: Fund your testnet wallet with BERA tokens
- Access the Berachain Faucet and enter your MetaMask wallet address (with at least 0.001 ETH on Ethereum Mainnet). Find the instructions on how to add Berachain’s network to your wallet here.
- Click Drip Tokens. You’ll receive testnet tokens shortly.
Please note: The faucet dispenses BERA testnet tokens every 8 hours, so you’ll have to wait 8 hours before requesting again.
Step 2: Swap BERA via BEX
- Go to BEX (Berachain’s DEX) and connect your wallet.
- Click Swap Tokens.
In this tutorial, we will show you how to provide liquidity into the HONEY-USDC pool, so in order to do it, we need HONEY and USDC tokens.
- Swap half of your BERA for HONEY (leave a small amount of BERA for fees).
- Swap the remaining BERA for USDC.
Step 3: Provide Liquidity into the HONEY/USDC Pool
- Click on Pool in the upper left corner.
- Find the HONEY-USDC pool and click Add.
- Set the amount and hit Preview.
- And then click Add liquidity.
- Confirm the transaction in your MetaMask wallet. All set!
Step 4: Deposit Your HONEY/USDC LP Tokens
- Click Deposit on the window that appears after adding liquidity.
- Set the amount (click MAX if you want to deposit all) and then click Deposit.
- Confirm the transaction via MetaMask. Now, you’ll start earning BGT rewards!
Step 5: Claim Your BGT Rewards
- Go to the Rewards section and click View Breakdown.
- In the My BGT Rewards section, click Claim BGT.
Step 6: Delegate Your BGT
- Go to the Delegate section on the BGT station.
- Choose a validator to delegate to.
- Set the amount of BGT to delegate and click Queue Boost.
- Done! You’ve now delegated your BGT to a validator, optimizing your rewards.
Last words
By delegating BGT, you don’t just get rewarded — you get a chance to participate in the future of the network. This process allows you to make key decisions and contribute to the liquidity of the ecosystem.
Stay tuned with Everstake for the latest updates and guides on Berachain. We’re always here to help you navigate and get the most out of your tokens!
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