Berachain Mainnet Launch Nears, Top Ecosystem Projects Overview
Original Article Title: "Berachain Mainnet Launch Imminent, Overview of Ecosystem Highlights and Star Projects"
Original Article Author: Pzai, Foresight News
On February 4th, Berachain officially announced that the mainnet will launch on February 6th, sparking widespread market attention and discussion. This article analyzes the ecosystem from the perspective of past events and future mainnet ecology, providing an overview of Bera's landscape.

Event Recap
As a liquidity chain, the accumulation of liquidity requires some preliminary preparation. Previously, Berachain launched the Boyco Mainnet Liquidity Pre-staking Event, collaborating with protocols such as Ethena, Etherfi, and Lombard to allow users to pre-stake liquidity on Ethereum to the Berachain DeFi protocol. The event attracted over $3.1 billion in assets, which will be transferred to the Boyco dApp after the mainnet launch.
In terms of airdrop allocation, 2% of BERA will be distributed to all liquidity pools, and users can earn APY rewards from the liquidity. Airdrops can also be expected in ecosystem projects.

In addition to the Boyco Mainnet Liquidity Pre-staking Event, Berachain attracted a large number of developers and users to participate in the testnet interaction through its EVM compatibility feature. Users accumulated on-chain interaction records by trading on DEX (such as BERA for STGUSDC), minting the stablecoin HONEY, participating in liquidity mining, and borrowing/lending protocols.
Since the launch of the second testnet v2 Bartio in June 2024, the number of Berachain addresses has surged from 6.4 million to 240 million, with a peak of 7 million daily active addresses, attracting over 270 ecosystem projects.
Based on the completion of NFT tasks on platforms like Galxe, testnet contributors are expected to receive 2%-5% of the total token supply, with early NFT holders (such as the Bong Bears series) potentially enjoying a higher weight.

Ecosystem Outlook
The core competitiveness of the Berachain mainnet lies in its Proof of Liquidity (PoL) consensus mechanism and three-token economic model (BERA, HONEY, BGT, etc.). BGT is the core token of the Berachain ecosystem, mainly used to incentivize liquidity providers and validators. Users earn BGT by providing liquidity in Berachain's native DeFi applications. BERA and HONEY respectively handle network transaction fees and stablecoin functions, ensuring ecosystem diversity and utility. The PoL mechanism tightly integrates liquidity provision and network validation, avoiding the issue of liquidity dispersion in traditional PoS networks. Validators have the right to vote on reward distribution for liquidity pools, further enhancing incentives for liquidity providers.
Within the ecosystem, liquidity providers can earn BGT token rewards by providing liquidity to protocols within the ecosystem. Validators participate in network validation by staking BGT tokens, earning block rewards and transaction fee shares. Applications built on the Berachain network can enhance their own liquidity pool rewards by incentivizing liquidity providers.
As the native DEX on Berachain, Kodiak supports not only Uniswap V3-style Concentrated Liquidity (CLAMM) but has also developed the "Island" feature, which optimizes returns by dynamically adjusting liquidity ranges and standardizing LP tokens to be compatible with other protocols (such as Infrared's liquidity staking). Users providing liquidity to a CLAMM pool can earn BGT rewards and can delegate BGT to validator nodes operated by Kodiak, creating a compound strategy for liquidity mining and governance rewards. The project has accumulated over 100,000 interactions in the testnet phase and will introduce the "Panda Factory," a no-code token issuance tool, to further lower the barrier to project initiation.

As a lending protocol on Berachain, Dolomite allows users to stake BGT as collateral, amplify liquidity mining rewards up to 5x, and enables users to hedge market volatility risk while amplifying returns, forming a sustainable leveraged mining ecosystem. The platform also distributes 20% of the DOLO token via airdrop to long-term borrowers and community contributors, enhancing governance participation through the veDOLO locking mechanism.

On Berachain, Infrared Finance is a liquidity staking protocol that allows users to convert BGT into tradable iBGT tokens. Users can stake them to earn node rewards or allocate them to other DeFi protocols (such as Kodiak's iBGT/BERA pool), achieving BGT liquidity unlocking and yield stacking. As the protocol with the highest BGT delegation volume in the testnet, Infrared repurchases and burns governance token IRED with node operation income, creating a deflationary model.

Berps (Berachain Perpetuals) is a native perpetual contract platform that utilizes the HONEY stablecoin as collateral. Leveraging BEX's deep liquidity under the PoL mechanism and dynamic price oracles to reduce trading friction, Berps supports leverage of up to 100x. The project also implements batch order processing (Batch-A2MM) and off-chain matching solutions to avoid sandwich attacks, enhancing the trading experience for retail users.
Honeypot Finance, as the core DeFi protocol of Berachain, provides full-cycle token services. The project consists of three sub-protocols:
Henlo DEX: an MEV-resistant DEX supporting limit orders and batch trades, reducing slippage through liquidity aggregation. Dreampad: a Launchpad using a Fair Token Offering (FTO) model, with project tokens sold 100% to the public, with no team reserves. Pot2Pump: a meme coin issuance platform resistant to bots, featuring a 24-hour refund mechanism to reduce fraud risks.
The project conducts HPOT token buybacks and burns through node operation revenues, while rewarding BGT stakers, forming a governance flywheel and value capture loop.

Conclusion
Berachain has reconstructed the validator, developer, and user alliance through Liquidity Proof, where its economic model directly ties on-chain activity to token value. After the mainnet launch, if core protocols like Boyco can continue to attract external capital, Berachain may become the first to achieve "liquidity equals security" in a public chain, injecting a new narrative into the Layer 1 race. However, challenges remain—balancing BGT governance centralization risks, maintaining HONEY stability will be key to the long-term health of the ecosystem.
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Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.
Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.
In 2025, DDC's core consumer food business maintained strong operational performance.
The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.
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In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.
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As of February 28, 2026: Holdings increased to 2,118 BTC
Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC
DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation
DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.
The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.