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Berachain

20 May 2023 - 14 May 2025
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Berachain is pioneering an EVM-compatible L1 network designed to incentivize liquidity and cooperation between node runners and dApps, by implementing the Proof of Liquidity consensus mechanism. The platform is powered by the three native tokens: $BGT - governance token of the platform, $BERA - native fees token and stablecoin $HONEY. 

With its unique approach to the blockchain economy, the project has garnered significant attention not only from the crypto community but also from top-tier funds and investors. Since the second half of 2023, the project has raised over $142M from investors such as Polychain, Hashkey Capital, and others.link

CoinLaunch Score: Very High
Last update: 07 Nov 2023

Berachain - WAITLIST Overview

Ticker: (BERA)
Start Date: 20 May 2023
End Date: 20 May 2023
Country: +1
Whitelist: No
KYC: No
Bounty: Yes
MVP: Yes
Security Audit: No
Raise Fund: $142,000,000

Berachain - Review

Berachain is an EVM-compatible L1 blockchain network designed to solve the liquidity and security dilemmas of PoS networks. It is powered by the Proof of Liquidity consensus mechanism, which enables Berachain network to increase the its liquidity without compromising its security capacities.

In general, the Berachain proof of liquidity consensus process works like this:

  • Users provide liquidity to the Bera chain DEX (BEX) and earn Berachain governance token - $BGT, which are used for delegating in Proof of Liquidity.
  • Users delegate those tokens to validators.
  • Validators produce blocks and earn rewards. They also have the ability to vote on future $BGT inflation across different LPs.
  • Validators distribute bribes (rewards) to their delegators.

For more information about its PoL mechanism, visit the Berachain docs.

🤑 Berachain token: The protocol has three different native tokens: $BGT, $BERA, and the stablecoin $HONEY. 

  • The first token, $BGT, is used for powering PoL mechanisms and voting. The $BGT token is a non-transferable asset that can be earned solely by contributing funds to the Berachain DEX (BEX).
  • The second token, $BERA, can be purchased or earned outside the BEX and is primarily used for paying gas fees within the network. 
  • Finally, $HONEY is a native stablecoin designed to reward node runners and delegators for contributing to the network’s governance and security.

By implementing this unique token economy model into its blockchain infrastructure, the Berachain crypto network incentivizes DeFi protocols and the network to cooperate, ensuring that all liquidity remains on-chain without compromising the network's security.

Considering the approaching launch of the Berachain mainnet and airdrop, the CoinLaunch team decided to conduct a comprehensive research on the Berachain protocol to find the major pros and cons of the project. Here’s what we found:

 

✅ Berachain pros:

  • Great, unique concept and design of the network;
  • Large user base of over 750K monthly users;
  • Over $142M raised since the April 2023; 
  • Strong PR, SEO, and growth marketing performance;
  • Presence of top-tier backers invested in the project;
  • Diverse network of top-tier partners supporting the protocol;
  • One of the project’s founders has worked at Apple, indicating a high level of experience and skills within the leadership team.

📛 Berachain cons: 

  • Lack of security assessment from the to[p tier auditors;
  • No clear roadmap;
  • No tokenomics released by the team yet;
  • Average Influencer marketing and Social media performance;
  • Weak marketing infrastructure.

Berachain - Team

RoadMap