● The grouping effect is obvious, and the founders of projects in the ecosystem actively participate as angel investors in other projects
- For example, Brandon, the co-founder of Shogun, which raised $6.9 million in seed round, invested in Ooga Booga;
- Reffo, the founder of Puffpaw, which raised $6 million in seed round, invested in IVX;
- The two most active angel investors Beartic and janitooor are both building in the ecosystem

● From the perspective of categories, there are up to 10 projects belonging to the DeFi financial category, which is also in line with the positioning of the Berachain PoL narrative, namely LSD protocol Infrared, DeFi Infra project Kodiak Finance, DEX aggregator Ooga Booga, intention to execute DeFi protocol Shogun, derivatives protocol Marginal, options protocol IVX, DeFi Hub project Honeypot, DeFi Infra project Goldilocks, comprehensive DeFi protocol Gummi and Web3 payment project Holyheld.