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Berachain's Mainnet Launch: A $3.3B Bet on Proof-of-Liquidity
Generated by AI AgentCoin World
Tuesday, Feb 4, 2025 2:24 pm ET1min read
Berachain, a proof-of-liquidity blockchain that aims to be compatible with the Ethereum Virtual Machine, is set to launch its mainnet on February 6, 2025. The launch comes over a year after the project released its public testnet and secured over $100 million in funding.
The network, which had previously teased a "Q5" launch, will host its token generation event (TGE) on the same day, with an airdrop eligibility checker to be released on Wednesday. The launch follows the completion of the project's pre-launch vaults and Boyco program, liquidity bootstrapping initiatives designed to help applications and protocols that will launch alongside the mainnet while allowing community members to stack rewards early.
Collectively, the vaults brought in more than $3.3 billion in user deposits via various crypto assets such as Ethereum, Bitcoin, and popular stablecoins, according to data collected by the Berachain-centric community, the Honey Jar. These assets are now set to migrate to Berachain's mainnet in support of projects launching on the chain.
Berachain raised $100 million in April 2024 to help propel its novel proof-of-liquidity blockchain, a new consensus mechanism that uses network incentives to bolster security and better align incentives with users and developers. The Berachain Foundation launched its whitepaper on Monday, further detailing the benefits and risks of launching its novel layer-1 blockchain.
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