Berachain is a high-performance EVM-compatible blockchain built on Proof-of-Liquidity consensus. Proof-of-Liquidity is a novel consensus mechanism designed to align network incentives and create strong synergies between Berachain validators and the project ecosystem. Berachain's technology is built on Polaris, a high-performance blockchain framework for building EVM-compatible chains on top of the CometBFT consensus engine.
Dev Bear is the co-founder and CTO of Berachain.
Smokey is the co-founder and Chief Smoking Control Officer of Berachain.
Camila Ramos is the Head of Developer Relations at Berachain, and was previously the Head of Developer Relations at Fuel Labs and a software engineer at PayPal.
Jack Melnick is the Head of DeFi at Berachain. He was previously the Head of DeFi at Polygon, VP of Research at The Tie, and previously worked at UBS.
Knower is a crypto researcher who currently writes technical articles about the core chain mechanism at Berachain and provides deeper insights into how Berachain works.
Leslie Song is the BD of Berachain Asia Pacific and co-founder of Crypto J. Previously, he served as the Head of Business Growth for AAVE Asia and the Community Manager of Origin Protocol, specializing in marketing operations, FA, and business development.
In April 2023, Berachain completed a $42 million financing round led by Polychain Capital, with participation from OKX Ventures, Hack VC, Dao5, Tribe Capital, Shima Capital, Robot Ventures, Goldentree Asset Management, former Dragonfly Capital partner and Celestia founder Mustafa Al-Bassam, Tendermint co-founder Zaki Manian, and 20 other DeFi project founders.
In April 2024, Berachain announced that its Series B funding round had grown to $100 million, about 45% higher than previously reported. The round was co-led by Brevan Howard Digital’s Abu Dhabi branch and Framework Ventures, with participation from Polychain Capital, Hack VC, and Tribe Capital. Investors backed Berachain through a “SAFT,” or simple agreement for future tokens. In March 2024, Berachain raised $69 million in funding, with a post-money valuation of $1.5 billion. The funds will be used for international expansion and further development.
Liquidity and pricing issues: Through a mechanism that does not require staking, Bera improves the liquidity of tokens and avoids the problem of insufficient pricing caused by excessive staking rates.
Capital efficiency issues: Bera provides a new market miner mechanism, so that capital is no longer locked for a single purpose, but can participate in the chain mechanism, improving the efficiency of capital utilization.
DEX token consumption scenario issues: Bera consumes the distributed incentives through the GasFee of the entire chain, allowing liquidity providers to obtain real money subsidies, increasing the consumption scenarios of tokens.
Decentralization issues: Bera provides a more decentralized ecology. Through the construction of nodes and reward mechanisms, it attracts more project parties and users to participate in the governance and ecological construction of the chain, improving the overall level of decentralization.
Berachain's token model is also different from other public chains. Berachain's token economy consists of three different tokens: governance token BGT, Gas token BERA, and stablecoin HONEY.
The positioning of BGT is similar to the governance token in the PoS network, except that BGT is set to be non-transferable.
The positioning of BERA is similar to the native tokens in other public chains, mainly used to pay gas fees and block rewards.
HOENY is positioned as the native stablecoin of Berachain, providing a stable transaction medium for applications on Berachain.
Ponzi Culture
Berachain was first jointly initiated by several old OGs who were involved in major DeFi projects. The founding team of Berachain does not reject or even enjoy the Ponzi culture. Therefore, in the Berachain community, people do not shy away from Ponzi, and even start with Ponzi. Berachain is also considered by the current market to be the next Luna with a Ponzi model. Although this metaphor is not reasonable, it also reflects the cultural core of the Berachain community and the outside world's perception of the Berachain community culture.
Meme Culture
In addition to Ponzi, Berachain is also born with Meme culture. After all, the origin of Berachain comes from the Bong Bears NFT, a smoking bear with a very Meme image. And Bong Bears was originally a joke between several founders from idea to implementation, and unexpectedly received a lot of attention and support from the community. In addition to Bong Bears, the name Bera itself is one of the Meme cultures.
NFT Culture
Since Berachain was born from NFT Collection, NFT has naturally become one of the most representative cultures of public chains. When we talk about other public chains, we rarely think of symbolic NFTs of other public chains except Ethereum. But when talking about Berachain, the topic that cannot be avoided is Bong Bear NFT based on the Rebase mechanism. In addition to the NFT issued by the founder, ecological projects on Berachain are also issuing their own NFT Collections, and the NFT Collections of different projects will be linked to the theme of Bear.
Berachain's vision goes far beyond the initial airdrop and token distribution. The team is committed to building a strong and scalable ecosystem that empowers users to take control of their financial lives. Some key areas of focus include:
Interoperability: Berachain aims to seamlessly integrate with other blockchain networks to enable cross-chain communication and asset transfers, further expanding the reach and utility of the platform.
Decentralized governance: The Berachain community will have a strong voice in shaping the future direction of the platform through a decentralized governance mechanism, ensuring that decisions are in the best interest of all stakeholders.
Innovative DApps: The Berachain team is committed to creating an environment conducive to the development of cutting-edge DApps that solve real problems and revolutionize various industries such as finance, supply chain management, and more.
