StakeStone’s Berachain Vault TVL Surpasses $130 Million in 24 Hours

StakeStone, an omnichain liquidity protocol, launched an incentivized Berachain vault built with Royco on Dec 25, and over $130 million has poured in since.

The vault is one of two incentivized pre-deposit vaults launched as a part of Berachain’s “69 hours of Beramas” initiative. Depositors are set to earn rewards such as airdrops and staking incentives from StakeStone and Berachain, plus Berachain ecosystem project rewards from Boyco, which is Royco’s Berachain implementation, KodiakFi and Dolomite.

In addition to the StakeStone vault, Beramas also includes a vault through Lombard and its Bitcoin-specific vault. The StakeStone vault has attracted more than double the deposits of Lombard’s, which holds $62 million.

Users can deposit ETH, WETH, or STONE into the Boyco-StakeStone vault and LBTC or WBTC into the Lombard vault, and both vaults combined account for nearly $200 million. The quick burst of demand indicates market participants’ desire to position themselves for an airdrop of Berachain’s native token, BERA.

The vaults are currently deposit-only, meaning any funds contributed can not be withdrawn. The Boyco vault has its withdrawal feature labelled as “coming soon” and the Lombard deposits are locked until April 14, 2025.

Berachain is an Ethereum virtual machine (EVM) blockchain that introduces the concept of proof-of-liquidity. The design looks to introduce new forms of value generation for validators, applications, and users.

“In PoS, validators receive commissions for building blocks. On Berachain, validators receive commissions for building blocks that scale with the amount of BGT delegated to them” the team said in a X post in August.

Berachain’s proof-of-liquidity model touts a three token system, made up of HONEY, BGT, and BERA. BGT is the governance token, HONEY is the ecosystem stablecoin, and BERA is the native token.

The Berachain ecosystem also has multiple NFT collections that trade on Ethereum, such as the Bong Bears, Band Bears, Bond Bears, Boo Bears, and Bit Bears.

Berachain NFT volume has picked up as well, with the Band Bears doing over 300 ETH of volume in the last week, compared to just 93 ETH the week before.

The Bong Bears and Bond Bears are the most expensive and have the smallest supply. The last Bong Bear traded on Dec. 14 for 99 ETH, or $330,000, and the last Bond Bear traded on Dec. 15 for 55 ETH, or $182,000.