The Berachain main network will be officially launched on February 6! Adopt 3 token BGT, BERA, and HONEY models

Berachain Foundation announced that its Layer 1 public chain Berachain main network will be officially launched on February 6, and the token generation event (TGE) will be launched simultaneously. The news was released on Tuesday, and it also previewed that the token economic model and airdrop query tool (Checker) will be announced the next day.

Berachain: EVM-compatible public chain of the Cosmos ecosystem

Berachain is a Layer 1 blockchain compatible with Ethereum Virtual Machine (EVM), built on the Cosmos SDK and adopts a unique "Proof of Liquidity (PoL)" consensus mechanism. The PoL mechanism not only enhances network security, but also ensures liquidity supply, improves network stability and attack resistance.

Berachain launched the public test network Artio in January 2024, and was originally planned to launch the main network in the second quarter of 2024. After the main network is online, it will receive support from custodians, cross-chain protocols, bridging protocols and data availability solutions, and its ecological development potential is worth looking forward to.

The project was created by an anonymous team, including Homme Bera, Dev Bear, Papa Bear and Smokey the Bera, and has been developed since 2021. The team has previously launched the NFT project Bong Bears and related series, and Berachain marks their official entry into the blockchain infrastructure field.

Berachain completed a US$100 million Series B financing in April 2024, led by Framework Ventures and Brevan Howard Digital (Abu Dhabi Division); in April 2023, it also received US$42 million in private equity financing led by Polychain Capital, showing strong financial strength.

Three token model: the perfect balance between security and liquidity

Berachain cleverly resolves the contradiction between security and profitability in traditional PoS blockchains. Its PoL mechanism integrates the two: users must provide liquidity through the DeFi protocol to participate in network security maintenance, thereby improving capital efficiency.

Berachain adopts three token design:

• Berachain Governance Token (Berachain Governance Token): Liquidity providers can receive BGT rewards, but they are not traded or transferred and can only be used to earn more liquidity rewards. BGT can be used for network governance and delegated to validators.
• Native token BERA: is used to pay transaction fees (Gas fees) and block rewards. Users can obtain BERA by destroying BGT 1:1.
• Ecost Stable Coin HONEY: Stablecoin pegged to the US dollar provides a stable trading medium.

Verifiers reinvest the pledge rewards into the Berachain ecosystem to maintain high liquidity. Users who pledge BGT to the verifier can receive HONEY rewards, and even get additional benefits through the "bribery" mechanism. The agreement passed by social governance votes can be directly integrated into Berachain's liquidity pool, reducing costs and improving funding efficiency.

The team said that Berachain is expected to become a bridge between the Cosmos and the EVM ecosystem, bringing major opportunities to validators of the Cosmos ecosystem.

The above is the detailed content of The Berachain main network will be officially launched on February 6! Adopt 3 token BGT, BERA, and HONEY models. For more information, please follow other related articles on the PHP Chinese website!