Request for Broposal
Royco is a protocol that enables you to create liquidity markets. These markets enable you to negotiate with LPs to provide liquidity for an incentive (ie. pre-deposit for points or tokens). This has a few big upgrades for chain pre-deposits:Royco Unlocks
Issues Royco solves that has plagued premines
Lack of TransparencyUsers lack clarity on how long their assets will be locked, and their nominal return profile. Applications lack clarity on how they will be able to acquire bridged assets, and what it will cost them.
CentralizationUsers are often forced to trust a single counterparty, sending money into a multisig, rather than using smart contracts to enforce custody, vesting, and rewards.
Weak AccessibilityRather than limit users to deposits across a limited subset of chains, depositors into the Berachain pre-mine will be able to provide liquidity across 20+ connected chains via LayerZero/Stargate, and other third party bridges.
Inefficient SpendHistorically, chains have offered incentives to onboard liquidity onto the chain, which then forces more spend to actually get assets into individual platforms. By bringing the consumer directly to the application, Berachain eliminates the need for a middleman.
Application PvPInstead of applications competing against each other to fight for share of assets bridged to a chain, with Berachain x Royco they're instead able to work together (even stacking yield) to offer competitive cross-chain rates and raise the ecosystem floor.
Boyco
As part of Berachain's push into Mainnet, we've collaborated with Royco to build a pre-mine that will allow applications to bootstrap liquidity directly on their launch.
Royco is a protocol that enables you to create liquidity markets. These markets enable you to negotiate with LPs to provide liquidity for an incentive (ie. pre-deposit for points or tokens). This has a few big upgrades for chain pre-deposits:Royco UnlocksNegotiate with LPs for guaranteed Day 1 LiquidityVia the market, applications can negotiate with LPs to provide liquidity for tokens, points, future tokens, etc. Any LP can place intents “ie. I will provide $10M Day 1 Liquidity, for 1000 $XYZ tokens”, which an application can see on the market and accept/negotiate. Liquidity Depositors have funds locked for a predetermined period of time, and can be rewarded in vanilla tokens, points, vested assets, or any combination.
No need to double incentivizePreviously, chains incentivized locked pre-deposits onto a bridge contract or multisig, and subsequently incentivized those assets to get deposited into applications. With Royco, LPs only need to be incentivized once, sending liquidity directly into its end destination: application smart contracts.
No PvP for the same liquidityRather than compete for some share of the liquidity to the chain, LPs are incentivized directly from other chains. This means applications working together with applications and assets in the ecosystem, rather than against them.
Lack of TransparencyUsers lack clarity on how long their assets will be locked, and their nominal return profile. Applications lack clarity on how they will be able to acquire bridged assets, and what it will cost them.CentralizationUsers are often forced to trust a single counterparty, sending money into a multisig, rather than using smart contracts to enforce custody, vesting, and rewards.Weak AccessibilityRather than limit users to deposits across a limited subset of chains, depositors into the Berachain pre-mine will be able to provide liquidity across 20+ connected chains via LayerZero/Stargate, and other third party bridges.Inefficient SpendHistorically, chains have offered incentives to onboard liquidity onto the chain, which then forces more spend to actually get assets into individual platforms. By bringing the consumer directly to the application, Berachain eliminates the need for a middleman.Application PvPInstead of applications competing against each other to fight for share of assets bridged to a chain, with Berachain x Royco they're instead able to work together (even stacking yield) to offer competitive cross-chain rates and raise the ecosystem floor.Approval ProcessBerachain will review RFRs on a rolling basis. Feedback may be given at Berachain's sole discretion. All RFRs must be approved, and can be denied for any reason or no reason at the sole discretion of Berachain.Disclosure: All Allocation eligibility will be at Berachain's sole discretion and subject to legal or geographic requirements.
Submitting Protocols will be able to accept pre-deposits and those assets will automatically be bridged and deposited on Day 1 of your app deployment on Mainnet.
Applications that qualify for the RFB process may also be eligible to utilize a portion of their mainnet rewards to bootstrap liquidity via Boyco. If you are interested in learning more / participating, please opt into the Boyco program via the submission form.