Infrared Finance, a liquid staking protocol operating on the Berachain network, has announced the launch of a points program.
Infrared Finance, a liquid staking protocol operating on the Berachain network, has announced the launch of a points program designed to incentivize user engagement ahead of its upcoming token launch. The program, which went live this week, aims to reward early users retroactively for their participation since the protocol's inception in February.
Co-founder Raito Bear revealed that the points will be dynamically allocated based on eligible activities, with no fixed supply.
Users can earn points by contributing to Infrared's proof-of-liquidity vaults, providing liquidity for trading pairs on decentralized exchanges such as Kodiak and BEX, and staking Infrared's liquid staking tokens, iBGT and iBERA. The longer users stake or provide liquidity, the more points they can accumulate.
The points earned will ultimately be convertible into Infrared's native token, expected to launch in the third quarter of this year, pending market conditions. Raito Bear indicated that details regarding the conversion ratio and the token's ticker symbol will be disclosed closer to the Token Generation Event (TGE).
Infrared Finance leads the Berachain ecosystem in total value locked (TVL), with over $1.5 billion in assets, according to DeFiLlama. The protocol has secured $18.75 million in funding through simple agreements for future tokens (SAFTs), with investments from entities such as YZi Labs, Framework Ventures, and NGC Ventures.
The points program is anticipated to run for approximately three months. Users can monitor their points in real time via Infrared's dashboard, and the protocol is collaborating with partners, including Pendle, to enhance the points-based rewards system.
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