iBERA liquid staking

Abstract

The Infrared protocol deploys the iBERA liquid staking system for Berachain’s native BERA token. The protocol enables users to stake their BERA tokens and receive iBERA in return, while participating in Berachain’s consensus mechanism through Infrared’s managed validators.

Key features

1. Non-custodial staking

   • The iBERA smart contract system manages BERA deposits and withdrawals in a secure, noncustodial, manner
   • Users maintain control over their staked assets through the iBERA token
   • All operations are fully transparent and verifiable on-chain

2. Automated rewards

   • Staking rewards (including priority fees & MEV) are automatically distributed
   • Rewards are autocompounded by default, increasing the value of iBERA tokens
   • Protocol fees are distributed between treasury and stakers

3. Queue-based operations

   • Deposits and withdrawals are managed through an efficient queue system
   • Ensures fair and orderly processing of user requests
   • Optimizes validator operations and stake distribution

User benefits

1. Liquidity

   • Receive iBERA tokens representing staked BERA position
   • iBERA tokens can be transferred, traded, or used in DeFi protocols
   • Maintain exposure to BERA while gaining additional utility

2. Simplified staking

   • No need to run validator infrastructure
   • No minimum 32 BERA requirement
   • Professional validator management and monitoring

3. Enhanced returns

   • Optimized validator performance
   • MEV capture and redistribution
   • Autocompounding of rewards

Direct token operations

1. Transfer iBERA

   cast send [iBERA-Address] "transfer(address,uint256)" [Receiver-Address] [Amount] --rpc-url [RPC-URL]

2. Approve iBERA spending

   cast send [iBERA-Address] "approve(address,uint256)" [Spender-Address] [Amount] --rpc-url [RPC-URL]

3. Check iBERA balance

   cast call [iBERA-Address] "balanceOf(address)" [Address] --rpc-url [RPC-URL]

Full staking guide

Staking BERA

1. Deposit BERA

   cast send [iBERA-Address] "mint(address)" [Receiver-Address] --value [Amount] --rpc-url [RPC-URL]

   This will:

   • Accept your BERA deposit
   • Queue it for staking with validators
   • Mint iBERA tokens representing your stake

2. View your position

   cast call [iBERA-Address] "balanceOf(address)" [Your-Address] --rpc-url [RPC-URL]

Unstaking BERA

1. Initiate withdrawal

   cast send [iBERA-Address] "burn(address,uint256)" [Receiver-Address] [Shares-Amount] --value [Fee-Amount] --rpc-url [RPC-URL]

   This will:

   • Burn your iBERA tokens
   • Queue withdrawal request
   • Process unstaking from validators

2. Claim withdrawn BERA

   Once your withdrawal request has been processed you can claim like this:

   cast send [iBERA-Claimor-Address] "sweep(address)" [Your-Address] --rpc-url [RPC-URL]

Protocol components

Core contracts

1. IBERA.sol

   • Manages liquid staking token minting/burning
   • Coordinates deposits and withdrawals
   • Handles reward distribution and autocompounding

2. IBERADepositor.sol

   • Processes BERA deposits to validators
   • Manages deposit queue
   • Handles validator stake distribution

3. IBERAWithdrawor.sol

   • Processes BERA withdrawals from validators
   • Manages withdrawal queue
   • Coordinates unstaking operations

4. IBERAClaimor.sol

   • Enables secure claiming of withdrawn BERA
   • Tracks user claims
   • Processes withdrawal completion

5. IBERAFeeReceivor.sol

   • Collects validator rewards (priority fees & MEV)
   • Manages fee distribution
   • Handles autocompounding operations

Key parameters

1. Minimum amounts

   • Minimum Deposit: 0.1 BERA
   • Minimum Deposit Fee: 0.01 BERA
   • Minimum Withdrawal Fee: 0.01 BERA

2. Timeframes

   • Forced Minimum Delay: 7 days
   • Initial Validator Deposit: 32 BERA

Fee structure

Protocol fees

• Priority Fees & MEV as well as POL bribes: Split between stakers, validators and treasury
• Deposit Fees: Cover operational costs and gas
• Withdrawal Fees: Cover operational costs and gas

Distribution

• Treasury: Protocol sustainability and development
• Stakers: Automatically reinvested through autocompounding
• Validators: Operational costs and maintenance

Security features

Smart contract security

• Non-custodial design
• Queue-based operations for orderly processing
• Secure withdrawal mechanism
• Fee escrow system

Validator security

• Professional validator management
• Distributed validator set
• Regular performance monitoring
• MEV-boost integration

Monitoring your position

Key metrics

1. Check iBERA balance

   cast call [iBERA-Address] "balanceOf(address)" [Your-Address] --rpc-url [RPC-URL]

2. Preview mint amount

   cast call [iBERA-Address] "previewMint(uint256)" [BERA-Amount] --rpc-url [RPC-URL]

3. Preview burn amount

   cast call [iBERA-Address] "previewBurn(uint256)" [Shares-Amount] --rpc-url [RPC-URL]

4. Check total deposits

   cast call [iBERA-Address] "deposits()" --rpc-url [RPC-URL]

Important notes

• Always verify contract addresses before interacting
• Keep withdrawal fees in account for burns
• Monitor reward rates through total supply changes
• Check withdrawal queue status before burning

By providing these comprehensive features and security measures, iBERA offers a secure and efficient way to participate in Berachain staking while maintaining liquidity through the iBERA token.