Introduction

In this guide, we will take a look at some BERA faucets, as well as BeraCana, a platform built on BeraChain.


What is BeraCana?

BeraCana enables undercollateralized lending, allowing users to deposit assets and borrow up to 5 times their initial value. The borrowed assets are then used in liquidity farming strategies to maximize BGT yields across different decentralized apps (dApps) in the ecosystem.

The protocol relies on BEND’s infrastructure to borrow HONEY, its native stablecoin, which is deployed in these farming strategies. By integrating with multiple dApps like BERPS and BEX, users can farm BGT through multiple channels at once.

Step 1

First, we need to claim some test BERA from one of the faucets: app.beraland.xyz/dl/Faucets





Step 2

Now let's swap some of our BERA for HONEY.

To do this, head over to: bartio.bex.berachain.com/swap





Step 3

Now head over to BeraCana: app.beracana.com/lend & connect your wallet.



Now we just need to insert any amount of HONEY and hit "Approve".

Once approved, you can go ahead & hit "Deposit".




Step 4

If you want to withdraw your profits after some time, you can select the Withdraw tab and insert any amount of canaHONEY and hit "Withdraw".

Outro

That's all for this guide! If you found this tutorial helpful and informative, consider sharing it on social media. You can also stay updated on the latest content and discussions by following us on X (formely Twitter): @BitBlogxyz

Disclaimer: This guide is provided strictly for educational purposes and should not be considered financial advice. The content is designed to offer insights into various web3 topics & projects.

We do not recommend putting real money into random projects without conducting plenty of your own research first. It is crucial to make informed decisions based on your own understanding and risk tolerance.