Early this morning, Berachain officially announced the launch of its airdrop checker (airdrop query link: https://checker.berachain.com/) and the BERA token economic model. According to the official documentation, Berachain's official token, BERA, has an initial total supply of 500,000,000 tokens with no upper limit on the maximum supply (annual inflation rate of approximately 10%). The specific allocation ratio is as follows:

Initial Core Contributors: 84,000,000 BERA, accounting for 16.8% of the initial total supply, allocated to advisors and members of Big Bera Labs;
Investors: 171,500,000 BERA, accounting for 34.3% of the initial total supply, allocated to Berachain's seed round, Series A, and Series B investors;
Community: 244,500,000 BERA, accounting for 48.9% of the initial total supply, further divided into three parts: 1) Airdrop, accounting for 15.8% of the initial total supply, including testnet users, Berachain NFT holders, ecosystem NFT holders, social media supporters, ecosystem dApps, community builders, etc.; 2) Future Community Initiatives, accounting for 13.1% of the initial total supply, dedicated to applications, developers, and users through incentive programs, grants, and other methods, implemented via snapshots, etc.; 3) Ecosystem & Research and Development, accounting for 20% of the initial total supply, with 9.5% of BERA tokens unlocked at TGE for ecological growth, developer tools/infrastructure, liquidity allocation, etc.

"Naive" Bearchain's Airdrop: Not So Generous? Who Really Got the Tokens?

BERA Token Economic Model
To date, centralized exchanges such as Binance, OKX, Bybit, Bitget, as well as Korean exchanges Upbit and Bithumb, have announced that they will list BERA spot trading at 9 PM Beijing time today. Notably, Binance will provide BERA airdrop rewards to users who subscribed BNB to the SimpleEarn product between January 22nd and January 26th.

With its listing on Binance and Upbit from the outset, will Berachain become the next "blockbuster" project? Next, Odaily Planet Daily takes you to understand Berachain, which is defined by institutions as a new generation of super L1 public chain breaking the liquidity dilemma of public chains.

Project Overview: A Highly Funded L1 Public Chain

"Naive" Bearchain's Airdrop: Not So Generous? Who Really Got the Tokens?

Berachain is an EVM-compatible L1 public chain built on the Cosmos SDK, originating from the Bong Bears NFT series in 2021. The project was jointly initiated by several OG members active in top DeFi communities. Although the founding team has deep experience and a keen market insight in DeFi, developing a public chain requires substantial technical support. It was during this process that the Berachain team established contact with the Polaris team, which specializes in EVM compatibility development, and quickly reached a collaboration. The two teams worked together to promote the development of Berachain, ultimately forming today's public chain architecture.

Technologically, Berachain will adopt the technical solutions provided by the Polaris team to create a high-performance EVM-compatible public chain built on the Cosmos architecture. In terms of mechanism design, Berachain adopts a unique Proof of Liquidity (PoL) consensus mechanism to promote the prosperity and development of the DeFi ecosystem by incentivizing on-chain liquidity, aiming to create a more efficient and dynamic decentralized financial platform.

According to ROOTDATA, Berachain has completed two funding rounds totaling $142 million, with specific information as follows:

On April 20, 2023, Berachain announced the completion of a 42millionSeriesAfundingroundledbyPolychainCapital,withparticipationfromOKXVentures,HackVC,Dao5,TribeCapital,ShimaCapital,RobotVentures,GoldentreeAssetManagement,aformerDragonflyCapitalpartner,CelestiafounderMustafaAl−Bassam,Tendermintco−founderZakiManian,andother20DeFiprojectfounders;OnApril12,2024,Berachainannouncedthecompletionofa100 million Series B funding round co-led by Brevan Howard Digital's Abu Dhabi branch and Framework Ventures, with participation from institutions such as Polychain Capital, Hack VC, and Tribe Capital.

With its substantial funding background, news of the Berachain token inquiry immediately sparked heated discussions among various "freebie-hunting" communities. Users who previously participated in interactions rushed to check the number of tokens they received, but this was followed by widespread dissatisfaction spreading across social media...

A "Freebie-Hunting Studio": Over 1 Million Addresses Participated in Testnet Interactions and Only Received Over 1,000 BERA Tokens

In response to complaints from various communities about participating in Berachain testnet interactions but not receiving BERA token airdrops, Odaily Planet Daily communicated with multiple "freebie-hunting studios." It is understood that one studio complained: They interacted with over 1 million testnet addresses but ultimately only received over 1,000 BERA tokens via airdrop. According to Whales Markets data, the pre-market price of BERA tokens is approximately 8.8,meaningtheirearningsamountedtoonlyaround10,000, far below expectations.

"Naive" Bearchain's Airdrop: Not So Generous? Who Really Got the Tokens?

BERA Pre-Market Price on Whales Markets

According to this respondent, many "freebie-hunting studios" experienced "annihilation" in Berachain testnet interactions, participating in numerous interactions but ultimately receiving fewer tokens than those allocated to BNB holders. Therefore, one can see many "freebie-hunting whales" posting on platform X mocking themselves for "making a fortune" to express their dissatisfaction with the project's airdrop rules.

"Naive" Bearchain's Airdrop: Not So Generous? Who Really Got the Tokens?

Not Only No Airdrop, But Also Mandatory Lock-Up for 3 Months

Not only did the "freebie-hunters" who participated in testnet interactions suffer, but users who participated in Berachain's pre-deposit were also affected, experiencing a "backfire." Many users reported depositing funds on the first day the pre-deposit channel opened, despite high Gas fees, only to find out today that they received no tokens when they checked.

Even more frustratingly, officials announced that the withdrawal channel for pre-deposits will only open after the mainnet goes live (i.e., three months from today), leaving many users extremely disappointed, feeling like they "lost everything."

If users accept the loss, they can retrieve the ETH previously deposited. According to community feedback, if users do not want to wait for the official redemption channel three months after Berachain's mainnet launch to retrieve the ETH previously deposited, they can exchange beraSOTNE for ETH through unofficial pools at present. Currently, approximately 1 beraSTONE can be exchanged for 0.98 WETH, resulting in a net loss of about 2% after excluding transaction fees when converting back to ETH.

Early this morning, Berachain officially announced the launch of its airdrop checker (airdrop query link: https://checker.berachain.com/) and the BERA token economic model. According to the official documentation, Berachain's official token, BERA, has an initial total supply of 500,000,000 tokens with no upper limit on the maximum supply (annual inflation rate of approximately 10%). The specific allocation ratio is as follows:

Initial Core Contributors: 84,000,000 BERA, accounting for 16.8% of the initial total supply, allocated to advisors and members of Big Bera Labs;
Investors: 171,500,000 BERA, accounting for 34.3% of the initial total supply, allocated to Berachain's seed round, Series A, and Series B investors;
Community: 244,500,000 BERA, accounting for 48.9% of the initial total supply, further divided into three parts: 1) Airdrop, accounting for 15.8% of the initial total supply, including testnet users, Berachain NFT holders, ecosystem NFT holders, social media supporters, ecosystem dApps, community builders, etc.; 2) Future Community Initiatives, accounting for 13.1% of the initial total supply, dedicated to applications, developers, and users through incentive programs, grants, and other methods, implemented via snapshots, etc.; 3) Ecosystem & Research and Development, accounting for 20% of the initial total supply, with 9.5% of BERA tokens unlocked at TGE for ecological growth, developer tools/infrastructure, liquidity allocation, etc.

"Naive" Bearchain's Airdrop: Not So Generous? Who Really Got the Tokens?

BERA Token Economic Model
To date, centralized exchanges such as Binance, OKX, Bybit, Bitget, as well as Korean exchanges Upbit and Bithumb, have announced that they will list BERA spot trading at 9 PM Beijing time today. Notably, Binance will provide BERA airdrop rewards to users who subscribed BNB to the SimpleEarn product between January 22nd and January 26th.

With its listing on Binance and Upbit from the outset, will Berachain become the next "blockbuster" project? Next, Odaily Planet Daily takes you to understand Berachain, which is defined by institutions as a new generation of super L1 public chain breaking the liquidity dilemma of public chains.

Project Overview: A Highly Funded L1 Public Chain

"Naive" Bearchain's Airdrop: Not So Generous? Who Really Got the Tokens?

Berachain is an EVM-compatible L1 public chain built on the Cosmos SDK, originating from the Bong Bears NFT series in 2021. The project was jointly initiated by several OG members active in top DeFi communities. Although the founding team has deep experience and a keen market insight in DeFi, developing a public chain requires substantial technical support. It was during this process that the Berachain team established contact with the Polaris team, which specializes in EVM compatibility development, and quickly reached a collaboration. The two teams worked together to promote the development of Berachain, ultimately forming today's public chain architecture.

Technologically, Berachain will adopt the technical solutions provided by the Polaris team to create a high-performance EVM-compatible public chain built on the Cosmos architecture. In terms of mechanism design, Berachain adopts a unique Proof of Liquidity (PoL) consensus mechanism to promote the prosperity and development of the DeFi ecosystem by incentivizing on-chain liquidity, aiming to create a more efficient and dynamic decentralized financial platform.

According to ROOTDATA, Berachain has completed two funding rounds totaling $142 million, with specific information as follows:

On April 20, 2023, Berachain announced the completion of a 42millionSeriesAfundingroundledbyPolychainCapital,withparticipationfromOKXVentures,HackVC,Dao5,TribeCapital,ShimaCapital,RobotVentures,GoldentreeAssetManagement,aformerDragonflyCapitalpartner,CelestiafounderMustafaAl−Bassam,Tendermintco−founderZakiManian,andother20DeFiprojectfounders;OnApril12,2024,Berachainannouncedthecompletionofa100 million Series B funding round co-led by Brevan Howard Digital's Abu Dhabi branch and Framework Ventures, with participation from institutions such as Polychain Capital, Hack VC, and Tribe Capital.

With its substantial funding background, news of the Berachain token inquiry immediately sparked heated discussions among various "freebie-hunting" communities. Users who previously participated in interactions rushed to check the number of tokens they received, but this was followed by widespread dissatisfaction spreading across social media...

A "Freebie-Hunting Studio": Over 1 Million Addresses Participated in Testnet Interactions and Only Received Over 1,000 BERA Tokens

In response to complaints from various communities about participating in Berachain testnet interactions but not receiving BERA token airdrops, Odaily Planet Daily communicated with multiple "freebie-hunting studios." It is understood that one studio complained: They interacted with over 1 million testnet addresses but ultimately only received over 1,000 BERA tokens via airdrop. According to Whales Markets data, the pre-market price of BERA tokens is approximately 8.8,meaningtheirearningsamountedtoonlyaround10,000, far below expectations.

"Naive" Bearchain's Airdrop: Not So Generous? Who Really Got the Tokens?

BERA Pre-Market Price on Whales Markets

According to this respondent, many "freebie-hunting studios" experienced "annihilation" in Berachain testnet interactions, participating in numerous interactions but ultimately receiving fewer tokens than those allocated to BNB holders. Therefore, one can see many "freebie-hunting whales" posting on platform X mocking themselves for "making a fortune" to express their dissatisfaction with the project's airdrop rules.

"Naive" Bearchain's Airdrop: Not So Generous? Who Really Got the Tokens?

Not Only No Airdrop, But Also Mandatory Lock-Up for 3 Months

Not only did the "freebie-hunters" who participated in testnet interactions suffer, but users who participated in Berachain's pre-deposit were also affected, experiencing a "backfire." Many users reported depositing funds on the first day the pre-deposit channel opened, despite high Gas fees, only to find out today that they received no tokens when they checked.

Even more frustratingly, officials announced that the withdrawal channel for pre-deposits will only open after the mainnet goes live (i.e., three months from today), leaving many users extremely disappointed, feeling like they "lost everything."

If users accept the loss, they can retrieve the ETH previously deposited. According to community feedback, if users do not want to wait for the official redemption channel three months after Berachain's mainnet launch to retrieve the ETH previously deposited, they can exchange beraSOTNE for ETH through unofficial pools at present. Currently, approximately 1 beraSTONE can be exchanged for 0.98 WETH, resulting in a net loss of about 2% after excluding transaction fees when converting back to ETH.