Berachain’s Boyco App Goes Live, Attracts $2.3 Billion in Pre-Deposits

Upcoming layer-1 blockchain Berachain’s pre-launch liquidity platform Boyco has officially gone live. The platform has already attracted an impressive $2.3 billion in “pre-deposits.”

Through Boyco, applications can now negotiate directly with liquidity providers.

Boyco App Kicks Off Berachain’s Mainnet Launch

Royco Protocol announced the launch of Boyco on X on January 28. Royco is a platform on Berachain that facilitates the creation of liquidity markets, allowing protocols to negotiate directly with liquidity providers to secure liquidity.

Boyco is a tailored implementation of Royco, specifically designed to support the mainnet launch of Berachain. After Boyco went live, several users complained about not being able to access the website.

“Boyco frontend lagging as hell, the FOMO is real,” wrote one user on X.

It appears that the high traffic brought the sites down.

“Yesterday evening, Boyco went live. We maxed out our servers, but even that wasn’t enough to sustain the sheer volume of traffic. Both sites became very, very slow. Since then, we’ve completely overhauled our backend, to be able to match the scale of demand,” Royco explained in a tweet. 

Moreover, the Boyco website showed that the Total Value Locked in Boyco alone is over $113 million. Once the predeposits are included, the figure rises to as high as $2.3 billion.

The supply of BERA, Berachain’s native token, on Boyco will represent 2% of the total supply.

“The community was quite surprised when the project allocated 2% of the total BERA supply to Boyco instead of the previously announced 1.5%,” said one user on X.

Boyco is designed to bridge the gap between the development of decentralized applications (DApps) and the eventual launch of their mainnet. Typically, users and investors have to wait until a blockchain’s mainnet goes live to begin interacting with its ecosystem.

However, with Boyco, applications can create liquidity markets ahead of time, providing early-stage users with an opportunity to deposit assets and generate interest. Nevertheless, another user complained that the network fee to predeposit on Boyco is ‘ridiculosly high.’

Separately, there is also much anticipation around the launch of the Berachain mainnet. Berachain is an EVM-identical layer-1 blockchain that uses a novel “proof-of-liquidity” consensus mechanism.

Rollup co-founder Andy posted on X that it could launch as early as next week.

“Berachain is launching imminently. I’ve heard early next week,” he wrote.

Berachain, with its $2.3 billion in TVL, ranks as the eighth largest chain by TVL. According to data from Dune Analytics, it has already surpassed chains like Sui, Avalanche, and Hyperliquid.