erachain is an innovative Layer-1 blockchain designed to enhance decentralized finance (DeFi) applications by integrating liquidity and security through its unique Proof-of-Liquidity (PoL) consensus mechanism.
**Key Features of Berachain:**
- **Proof-of-Liquidity Consensus:**
nlike traditional Proof-of-Stake (PoS) systems, Berachain's PoL model incentivizes users to provide liquidity, ensuring that staked assets remain accessible for DeFi protocols. This approach addresses liquidity lockup issues commonly found in PoS networks.
- **EVM-Identical Architecture:**
erachain is fully compatible with the Ethereum Virtual Machine (EVM), allowing developers to deploy Ethereum-based decentralized applications (dApps) on Berachain without code modifications. This compatibility facilitates seamless migration and integration within the Ethereum ecosystem.
- **Tri-Token System:**
The ecosystem utilizes three tokens: -
**BERA:** he native token used for gas fees. -
**BGT:** he governance token that enables holders to participate in network decision-making. -
**HONEY:** stablecoin designed for use in DeFi protocols.
**Development and Funding:**
erachain originated from the NFT project Bong Bears, which gained popularity due to its unique features and rebase mechanism.the project has attracted significant investment, securing a $100 million Series B funding round co-led by Brevan Howard and Framework Ventures, with participation from Polychain Capital, Hack VC, Tribe Capital, and others.
**Current Status:**
s of now, Berachain is in its public testnet phase, with the mainnet launch anticipated later in 2024.
For more detailed information, you can visit Berachain's official website: