Berachain Launches with 2 Million Transactions Amidst Criticism
Berachain launched recently, achieving over 2 million transactions. It utilizes a “Proof of Liquidity” model aimed at creating a sustainable ecosystem. Concerns were raised regarding its funding approach through NFTs before establishing the blockchain.
Key points:
- Berachain has over $1.6 billion in pre-launch liquidity
- Abstract, another new chain from the Pudgy Penguins team, has only $8.49 million in total value locked
- Berachain allocated half of its token supply for investors and contributors, with early testnet users receiving only 1.65% of the airdrop
- Access to Berachain's platform is restricted for US residents
- Sony’s Soneium blockchain launched as a rollup on Optimism, experimenting with blockchain solutions
- PENGU tokens from Pudgy Penguins saw a significant burn of 12.1 billion tokens worth about $150 million, but the price fell by 5.5% within a day
- WolvesDAO may be working on releasing a gaming-adjacent token
Further developments in the crypto space involve ongoing comparisons between Berachain and Abstract, with differing focuses on user engagement and gaming.