Berachain Launches Mainnet and BERA Token Reaches $3.1 Billion Liquidity
The Berachain L1 blockchain is launching its mainnet and BERA token today, concluding the world’s longest testnet. Key highlights include:
- Berachain has secured $3.1 billion in liquidity on its pre-launch platform Boyco, making it the 8th largest chain by Total Value Locked (TVL).
- It features a unique proof-of-liquidity (PoL) consensus mechanism with a dual token model:
- BERA serves as gas and a bond for validator staking.
- BGT is an inflationary, non-transferrable governance token.
- Validators determine which decentralized applications (dapps) receive BGT emissions based on user interactions, creating a direct link between liquidity providers and validators.
- BGT can be burned at a 1:1 ratio for BERA, influencing market values.
- Unlike other models, users can exit without long lockup periods, but returning requires farming BGT again.
- Berachain's structure favors early participants, enhancing their control over future BGT emissions.
- Essential applications like AMM DEX (BEX), money market (Bend), and perps DEX (Berps) will launch natively.
This setup aims to tackle the cold-start TVL problem and establish a competitive environment similar to Curve's governance dynamics.