Berachain, the 2024 king-bomb public chain project, is here! Raised over $200 million,
What is Berachain?
Berachain was launched at the end of 2021 and is an EVM-compatible Layer 1 platform focused on DeFi, built on the Cosmos SDK framework, and adopts a Proof of Liquidity (PoL) consensus mechanism. Berachain originated from an idea of ââthe Bonng Bears NFT community and is an EVM-compatible blockchain known for its novel Proof of Liquidity consensus mechanism. This innovative blockchain allows users to stake stablecoin assets and blue-chip DeFi tokens from Layer 1 blockchains with Berachain's validators. Developed on the Cosmos SDK platform and leveraging Cosmos' native consensus engine Tendermint, Berachain's name is derived from the Bong Bear NFT community and was conceived by its development team. Berachain's vision is to improve capital efficiency in the DeFi space, enabling users to conduct familiar everyday transactions while providing additional features and benefits. This goal is facilitated by implementing a unique three-coin system within the blockchain, a distinctive feature that sets Berachain apart from its peers. In addition, Berachain aims to solve key liquidity challenges faced by other blockchains, positioning itself as a solution-driven platform that is expected to revolutionize the DeFi landscape.
Berachain Project Financing
Berachain has made significant progress in financing and development, raising a considerable $42 million from well-known investors such as Polychain Capital and dao5. The recently launched Artio testnet is a major milestone in Berachain's journey, providing users with the opportunity to interact with the platform and potentially qualify for future airdrops. After the FTX crash in November 2022, Berachain started to raise funds. In April 2023, it completed a $42 million financing with a valuation of $420 million. Polychain Capital led the investment, and OKX Ventures, Hack VC, Dao5, Tribe Capital, Shima Capital, Robot Ventures, Goldentree Asset Management, Dragonfly Capital former partner, Celestia founder Mustafa Al-Bassam, Tendermint co-founder Zaki Manian and 20 other DeFi project founders participated in the investment. When the financing news was announced, the Berachain ecosystem had more than 2.500 million USD committed total locked value.
Current valuation: 5 billion+Lock mechanism: lock 3 and release 3 Total amount: 10 billion
