‘Proof-of-liquidity’ network, Berachain, is all set to roll out its layer-1 [L1] mainnet today.
Background
- The network uses an attack resistance mechanism
- It synchronizes staking dynamics to foster both security and liquidity
- The network rewards liquidity provision
- Built on the Cosmos SDK, Berachain is Ethereum Virtual Machine [EVM] compatible
- The team rolled out its public testnet last year and thereafter slated the mainnet launch for "Q5”
Why should you pay attention?
- The token generation event [TGE] will occur at the same time as mainnet launch
- 500 million BERA tokens are set to be issued at Genesis
- Among that, 48.9% has been allocated to the community [the split up: 15.8% for the airdrop, 13.1% for additional community initiatives, and 20% for ecosystem research and development]
- 34.3% has been earmarked for Berachain’s investors — seed, Series A, and Series B
- The remaining 16.8% has been allocated to core contributors
- All parties will follow the same vesting schedule
- 1/6th of the tokens will unlock after a one-year cliff
- The remaining unlock will take place linearly over the subsequent 24 months
- BERA will have an inflation schedule of around 10% per annum
Who said what?
- The team announced,
“Tokens can be claimed on February 6, 2025, using a variety of EVM wallets including Metamask, OKX Wallet, and more”
- Eligible participants include testnet users, depositors to Berachain’s pre-launch liquidity initiative — Boyco — social media contributors, and holders of NFT collections like Bong Bears
- Smokey the Bera asserted,
“The chain came from the Bears, and now the Chain Has A Bear On It. As a wise man once said, Ooga Booga Bonga Bera”
Zooming out
- On the heels of the launch, Berachain will be supported by bridging protocols, custodians, data availability [DA] ecosystems, and cross-chain messaging projects
- The project is spearheaded by a bunch of pseudonymous co-founders — Homme Bera, Dev Bear, Papa Bear, and Smokey the Bera
- BERA is the native gas and staking token of Berachain
- Meanwhile, another token — BGT — will cater to governance and economic incentives
- BGT will be non-transferable
- It can only be acquired by taking part in activities within the Berachain ecosystem
Other related reads/listens
- What is Berachain?
- Berachain's V2 Upgrade Goes Live
- What Is Yeet? A Biblical Berachain Bonzi
- What Are The Top Projects In The Berachain Ecosystem?
- Berachain-based Vaping Project Puffpaw Raises $6 Million
- Berachain DeFi Head Gives Insight on NEW Liquidity Incentives on the Network
- Berachain Deep Dive - The Ecosystem Explained
