NFTs have been losing traction recently, with limited use cases amidst a decline in DAU (daily active users) on primitive crypto gaming platforms. Reason? These games needed an incentive mechanism to attract long-term engagement. Also, NFTs solely acted as an entry pass to unlock new levels or avatars. Innovators realized that the utility of NFTs has to be tied to long-term incentives for the resurrection of the ailing sector.

That’s exactly what Honeypot Finance intends to do with BeraFarm. Already making waves in the Berachain ecosystem because of its anti-rug pull launch mechanism, Honeypot Finance has joined hands with Animus Labs, a leading Web3 game builder, to redefine strategic on-chain gameplay.

BeraFarm is designed to balance the risk-reward ratio for NFT staking through exciting rewards. Whether one is a seasoned DeFi enthusiast, an NFT collector, or part of the Berachain core community, BeraFarm offers something truly special for all the participants.

A New Staking Paradigm: Honeypots vs. Bera Bears

HoneyGenesis NFT is at the heart of BeraFarm, transforming into one of the two: Honeypots 🍯 or Bera Bears 🐻. Once a user stakes their HoneyGenesis NFT, they are randomly assigned one of the two forms, setting the stage for a dynamic and unpredictable gameplay experience, where the stakes are high, and the rewards can be significant.

Both Honeypots and Bera Bears serve different yet significant purposes. Honeyposts are suited for participants who prefer stability with noticeable returns. Thus, the longer they stake, the higher is their potential share of the rewards from Honeypot’s integrated Dreampad reward allocations. However, if the Honeypot owner decides to unstake before a certain period (six months currently, subject to change), their NFT would be ‘stolen’ and sent to the Bera Bears’ territory reserve.

On the flip side, Bera Bears are designed for those with a higher risk appetite. While staking a Bera Bear might offer less stability, the potential payoff is significant. If timed right, unstaking a Bera Bear not only allows players to collect their share from the Bera Bear pool but could also result in walking away with a coveted HoneyGenesis NFT — if one remains in reserve.

Meeting At The Intersection of DeFi and GameFi

The secret sauce of BeraFarm’s compelling gameplay is the ease with which it blends GameFi with Honeypot Finance’s core DeFi product. Besides incentivizing the staking of the NFTs, it is designed to navigate the flow of rewards generated from Dreampad. The core idea is to connect BeraFarm rewards to the bonus pools, giving every participant an opportunity to reap rewards tied directly to real DeFi activitiesy, thereby boosting DeFi interaction on Dreampad.

With highly strategic gameplay at its core, Berafarm is actually an ecosystem having real, tangible outcomes for every action, including staking, unstaking, or watching the clock.

It’s All About Strategic Staking

BeraFarm is all about deploying a killer strategy. The only strategy Honeypot holders need is patience and long-term commitment. For users looking to grow their investment steadily, Honeypot is an option worth exploring diligently. However, it comes with its own set of risks. The biggest risk is losing the HoneyGenesis NFT to Bera Bears, a possibility that becomes a reality in case a participant unstakes before the deadline.

For the degen Bera Bears, the strategy revolves around timing and risk management. While rewards may be less predictable, the potential for high returns — and the chance to snag an extra HoneyGenesis NFT — adds a thrilling element that’s hard to resist.

The Road Ahead

With BeraFarm primed to launch on the Berachain mainnet, exciting opportunities await for NFT maxis and degens seeking to reap rewards with strategic gameplay and long-term DeFi participation.

Honeypot Finance aims to redefine NFT usage on-chain, while putting DeFi interaction at the center, focusing on attracting long-term commitment from the users. The platform is also focused on enabling other Berachain-native NFT projects and protocols to use BeraFarm to generate their own in-game dual-party staking and allocate their future rewards to the users. In the long run, this is destined to unite Bera communities.

Final Word

BeraFarm marks the intersection of DeFi and GameFi, providing the Berachain community with exciting opportunities to engage, strategize, and earn. Be it degens or gamers with a long-term reward generation goal, it has something for all. Whether participants are committed to long-term rewards with Honeypots or eager to embrace the thrill of risk with Bera Bears, BeraFarm is poised to transform staking and rewards in the NFT ecosystem while bringing the Berachain community closer together.

This article is published under HackerNoon Business Blogging program. Do your own research before making any financial decisions.