Coinbase Welcomes BERA: A New Chapter for Berachain's L1 Blockchain

Coinbase, a leading cryptocurrency exchange, has announced the addition of BERA, the native token of the Berachain L1 blockchain, to its platform. The token will be listed with an "experimental" label, indicating that it is new to the platform or has lower trading volume compared to mainstream currencies.

The Berachain L1 blockchain, which launched its mainnet and BERA token on February 6, 2025, has attracted significant attention and liquidity. The project's unique "proof-of-liquidity" (PoL) consensus mechanism has generated over $3.1 billion in liquidity on its pre-launch liquidity platform, Boyco. This has made Berachain the 8th largest chain by total value locked (TVL).

The PoL consensus mechanism splits the native token into a dual token model, with BERA serving as gas and a bond for validator staking, and BGT as an inflationary but non-transferable governance token. Validators decide which dapps receive BGT emissions, and users who interact with these dapps can earn BGT. The BGT token is a veTokenomics-style bribe token, allowing users to delegate BGT to validators and direct future BGT emissions to their preferred liquidity providers.

The BGT token can be irreversibly burned at a 1:1 ratio to BERA, which may explain Berachain's early liquidity rush. However, this also creates a flywheel effect that privileges early participants in the Berachain ecosystem over later ones. The project has enshrined native applications like its AMM DEX (BEX), money market (Bend), and perps DEX (Berps) at launch, further incentivizing early participation.

Coinbase's decision to list BERA with an experimental label reflects the token's relatively low trading volume and newness to the platform. As the token gains traction and trading volume increases, it may be reclassified as a mainstream asset. This listing provides an opportunity for investors to gain exposure to the Berachain ecosystem and its unique PoL consensus mechanism.