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๐ป Bearachain: Innovative Blockchain with Proof-of-Liquidity
๐น What is Berachain?
Berachain is a Layer-1 blockchain compatible with the Ethereum Virtual Machine (EVM) and built using the Cosmos SDK. This project offers a new approach in the DeFi ecosystem with a unique Proof-of-Liquidity (PoL) consensus mechanism.
๐น Why is Berachain different?
๐ง Proof-of-Liquidity (PoL) โ Validators secure the network by providing liquidity to DeFi protocols, not just regular staking.
๐ Compatible with EVM โ Supports popular DeFi applications such as Uniswap, Aave, and others.
๐ฅ Growing Ecosystem โ Supported by major investors such as Polychain Capital and Framework Ventures with funding of $100 million in 2024.
๐น Model Tri-Token Berachain
1๏ธโฃ BERA โ Gas token for transaction fees.
2๏ธโฃ HONEY โ Stablecoin for DeFi transactions.
3๏ธโฃ BGT โ Governance token ( cannot be transferred) for voting within the ecosystem.
๐น When is Berachain Mainnet?
Currently still in the testnet stage, and the mainnet is planned to be released by the end of 2024. ๐
๐น Conclusion
Berachain brings a new approach to blockchain with high capital efficiency, participation-based governance, and a strong DeFi ecosystem. Will this be one of the big players in the future? ๐ค
#Berachain DeFi #Crypto EVM #Blockchain