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Some FAQ about Berry Data

Who is Berry?

Berry Data is a transparent community-verified price oracle on BSC(Binance Smart Chain). Berry Data provides a trustless and decentralized alternative for off-chain data. Also, it provides the infrastructure for decentralized applications to query off-chain data by properly incentivizing miners to provide data.

How does Berry work?

Berry Data is an oracle system that parties can request the value of an off-chain data point and miners compete to add this value to an on-chain data-bank, accessible by all DApps on Binance Smart Chain. The inputs to this data-bank are secured by a staked miners network. Berry Data utilizes crypto-economic incentive mechanisms, rewarding honest data submissions by miners and punishing bad actors, through the issuance of Berry Data’s governance token, BRY, and a dispute mechanism.

Berry Governance Token (BRY)

BRY is Berry Data’s governance token. BRY is designed to empower the broader DeFi ecosystem to drive the creation of a fully transparent, community-owned, and open-source oracle platform on Binance Smart Chain.
The total BRY token circulation is 12,500,000. Token distribution is as follows:
55% - Mining: 40% of BRY will be mined out as block rewards to miners in the Berry oracle network; 15% of BRY will be provided through liquidity mining
23% - Ecosystem Fund: will be used for partners to build Berry Data project and its ecosystem as a vault. 7% will be used for the initial listing campaign and creating pools; 16% will be locked for 2 years and will be released every quarter
16% - IFO: will be sold on PancakeSwap IFO
6% - Team: will be locked for 2 years and will be released every quarter. Team vesting will start from the second quarter after the listin

Token Use Case

Berry’s Roadmap

Berry will dedicate to BSC ecosystem to improve its oracle product and expand partnership on BSC in the following few months. The detailed roadmap is as follows:
2021Q1
  • Berry Data Oracle mainnet will be launched
  • Miner tools will be released and miners can win BRY tokens rewards and services tips by providing data feeds in Berry oracle
  • Data feeds "plug-in" tools will be released that dApps on Binance Smart Chain can easily access and require on-chain price feeds by easily engaging with Berry oracle
  • Creating more strategic partners
2021Q2
  • The updated Berry Data smart chain will take into consideration of reputation and track records of miners and source of data as important components for data selection. Those well-behaved miners and high qualified sources can get extra bonus.
  • Disputes Center will be launched where every BRY token holder can monitor and dispute error data. Those who execute successful disputes will win huge rewards from the team.
  • More partners will be on board to access on-chain data feeds through Berry Data
2021Q3 - Q4
  • Building a bigger and stronger Berry Data ecosystem and keep polishing the oracle product.
2022
  • Add more data feeds, aggregate and connect real-world data and APIs to smart contracts
  • Launch V2 Berry Data oracle platform with improved feature and user experience
  • Multichain development
  • Expand into more countries and regions market
  • Onboard more strategic partners
  • Additional NFT extending
  • Explore oracle facilities to support NFT, gaming, and metaverse

About Team

Berry Data's team has 6 full-time team members, including 3 developers and 3 operations. Information of key team members are as follows:
John WU - Berry Data CTO
Former IRISnet Senior Technical Architecture for 2 years; ex community code contributor for Cosmos; ex- senior Developers for JD.com. Graduated from Peking University with a master's degree in computer science.
Mandy NG - Berry Data COO
Former Kucoin Exchange BD manager, experienced in coin listing in the APAC region, she has close connections with most of the mainstream exchanges and leading blockchain projects. Before Kucoin, she worked for IBM as a Sales Manager for 3 years. Graduated from University College London with a master's degree in marketing.
Dr. Tom HAO - Berry Data Leading Scientist
He received his Ph.D. degree from Jilin University(China) in Computer Science. Focus on cryptography and computer security. He will be Berry Data developing leader for product security.

Motivation and Dedication

Berry will dedicate to BSC ecosystem and it will work with Defi projects on BSC by providing customized oracle tools at a more reasonable fee scale. Specifically, Berry will provide free price feeds in the first few a month to its partners. Berry believes in the future of BSC, and we will make Berry the most widely used oracle on BSC.

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Last modified 22d ago