Well, your question “What is Bera?” is a valid one and is important to understanding the entire Berachain project. Simply put, BERA is the native and primary cryptocurrency of the Berachain network.
Let's break this definition down further:
Native cryptocurrency: This means that BERA is a coin created specifically for the Berachain network, not a pre-existing coin adopted from another network. It is a fundamental part of the Berachain design.
Berachain Network Core: BERA is not just a sidecoin in Berachain. It is central to the network’s operation and functionality. It is used in several core functions within the ecosystem.
The main functions of BERA coin in the Berachain network:
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1. Gas Token: This is the primary and most important use of BERA. Just like ETH on the Ethereum network, BERA is used to pay transaction fees on the Berachain network. Every operation done on the network (sending coins, interacting with DeFi applications, etc.) requires payment of fees in BERA.
2. Part of the Tri-Token System: Berachain relies on a unique tri-token system, and BERA is one of them (the other two are BGT and HONEY). This system is designed to achieve economic balance and sustainability within the network.
3. Participate in Proof-of-Liquidity: To secure the Berachain network and contribute to the innovative Proof-of-Liquidity system, users stake BERA. In return, they receive the governance token BGT. So, BERA is the starting point for participating in the security of the network and earning other tokens within the ecosystem.
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4. Liquidity in DeFi: BERA can be used to provide liquidity in various Decentralized Finance (DeFi) protocols built on Berachain. This contributes to the growth and development of the DeFi ecosystem on the network.
5. Trading and Exchange: Like any other cryptocurrency, BERA can be traded on cryptocurrency exchanges, both centralized and decentralized.
In short:
BERA is the “fuel” of the Berachain network. It is the base currency that powers the network, enables and secures transactions, and is a vital part of the unique and innovative ecosystem that Berachain seeks to build. Without BERA, the Berachain network cannot function.
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