The Berachain mainnet is now live, and the bullish bears of Web3 can now claim their $BERA tokens, ready to run with the bulls in the bull run.
Welcome to the Berachain, the only ecosystem where Bulls and Bears get along…
What is Berachain?
Berachain is a unique EVM-identical Layer 1 blockchain powered by the Proof-of-Liquidity (PoL) consensus mechanism.
Rewinding back to 2021, their origins derive from the Bong Bears NFT Collection and later transitioned into an L1, where loyal Bong Bears and others could enjoy a network that strives to provide paramount security and liquidity.
What started as a fun NFT project has become a thriving DeFi ecosystem. After years of development and building in a bear market, Berachain has attracted some of the largest VCs in Web3, including Polychain, Animoca Brands, Hashkey Capital and many others.
How Does Berachain Work?
Berachain is unique. Berachain has three core principles which make it a versatile and popular choice for both users and developers. In a nutshell:
1- Defragmenting Liquidity – Thanks to the PoL consensus mechanism, DeFi protocols can enjoy shared liquidity directly from the blockchain itself without having to compete for liquidity between other protocols!
2- Turbocharging Applications – Network Validators have the ability to direct network emissions towards dApps building on Berachain, incentivizing devs to build on the network!
3- Highly Accessible – Berachain believes in interoperability and, therefore, they have created an EVM-identical blockchain compatible with all existing Ethereum ERCs and opcodes.
Berachain Ecosystem
With rapid succession, Berachain has already created a thriving ecosystem of over 103 built and integrated dApps ranging from DEXs all the way to NFTs, RWA and GameFi.
Within the ecosystem is the BeraHub, built by the Berachain team and your all-in-one location for swapping, providing liquidity, earning rewards and becoming a validator.
There are no limits in the Berachain ecosystem.
Berachain Statistics
During the testnet stages, Berachain attracted and incentivized millions of users to explore the ecosystem. Today, only days after the mainnet launch, Berachain has already obtained over 3 million users and facilitated over 10.19M transactions. At the time of writing, it’s only been 5 days.
That is outstanding, to say the least…
BERA Token
Bears of the market may have a token to be bullish on, and that is $BERA, the native token of the bears and Berachain. In terms of utility, $BERA is primarily used to pay for transactions on the Layer 1 network and is used to operate a Validator by staking $BERA tokens.
Berachain Airdrop – Genesis Supply
As many of you may know, $BERA was recently airdropped to the loyal users of the Berachain Artio testnet, Bong Bears NFT Holders and community members. In total, 15.8% (500M) of the total supply was airdropped and is currently claimable.
If you believe you could be eligible, then head over to the official Berachain Airdrop Claim Page.
Conclusion
At the time of writing, according to CoinMarketCap, $BERA is currently trading at $5.64 with a market cap of over $609.5M. Although $BERA peaked to an ATH of $14.99 when it first launched, it is currently down 62% but all in all, still up 466% since inception.
We are still in the early stages of launch, the bull market hasn’t even arrived yet, and Altseason is yet to initiate. So, hopefully big things are coming for the $BERA HODLers…
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Disclaimer
The content provided in this article is purely informational and nothing said is financial advice. Proceed with caution and always invest what you are prepared to lose. Remember that you are entirely responsible for your assets and investments and the author and the publication do not endorse any of the cryptocurrencies, protocols and/or strategies in this article.
