one of the biggest defi TGEs is coming up on a chain set out for revenge: @InfraredFinance
They act as the core proof of liquidity engine on berachain and peaked at over 2B TVL
Here's the rundown on their upcoming TGE 🧵
Infrared allows liquidity providers to earn iBGT instead of BGT, which is an unlocked version of their governance token. This is the core foundation of Infrared that has grown it to control 35% of all BGT emissions
They cover 85% of all active PoL vaults
The protocol raised 18M from notable VCs such as Framework Ventures and YZI Labs. Veteran team with broad defi experience, and have proven to be the most sophisticated and knowledgeable builders on berachain
Notable partnerships include PayPal, BitGo, Dolomite, Pendle, Euler
Berachain has been through an immense amount of FUD but leadership simply hasn't given up. One of the few earnest builders in the space remaining IMO.
They've pivoted to "Real World Businesses", a very strong narrative. See a recent example from Smokey:
The Liquid Royalty guys are now live, and heavily slept on imo.
They're tradfi guys by background, so there's lots of work to be done in terms of distro to a crypto-native audience, and lots of noise to cut through in the Bera eco. Working to help them find some good comms folks to help drive the effort.
I find the product quite interesting because it actually solves a real problem for a set of high-growth real world businesses (leading Chinese e-commerce shops) and connects them with a group of people looking for unique, de-correlated yields on chain.
You can see (every?) sale and transaction from their first store go through the platform on which is probably the coolest part imo, and was one of the things that I asked the team to be most cognizant about.
Esp with the recent stablecoin explosions, people are understandably more concerned about offchain / non-obvious yield than ever. My understanding is that in the near future (and to some extent, already), you'll be able to see how a portion of every sale from these irl bizs goes into on-chain LPs and tokenholders pockets.
The pipeline from off-chain to on-chain is gonna be one of the coolest things to observe imo.
RWBs incoming.
Defi is crypto's biggest use case bar none, and Infrared sits at the center of it.
They generate over $53 million in annualized product revenue and approximately $4 million in annualized infrastructure revenue, tying in perfectly with Berachain's recent focus on revenue meta
On the horizon, they're exploring cross chain mechanisms to tap into other chain-native yield mechanisms. Berachain is their core infra but not the end game, which is chain agnostic defi domination across both degen and institutional users
Very hyped for their incoming TGE!
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