According to Cointelegraph, on September 18, Vance Spencer, co-founder of Framework Ventures, said at Token 2049 in Singapore that Berachain's upcoming token BERA could become Ethereum's next major competitor. Spencer explained: "The market is eager for an economically aligned ecosystem, which is the main criticism of Ethereum. Berachain's POL mechanism may solve this problem by returning part of the profits to ecosystem participants."
Berachain plans to launch its mainnet by the end of 2024. BERA tokens will serve as the network’s fuel token, used to pay transaction fees and stake to enhance network security. Spencer emphasized: “When you stake BERA, you must direct the liquidity you get to these primitives. All fees stay within the ecosystem and flow to BGT and BERA holders.”
Earlier news, on April 12, the new public chain Berachain announced the completion of a $100 million Series B financing, which is about 45% higher than the previously reported amount. This round of financing was jointly led by Brevan Howard Digital's Abu Dhabi branch and Framework Ventures, with participation from Polychain Capital, Hack VC and Tribe Capital.
