Berachain reached its mainnet launch stage, after a year of testing. The chain, which aims to compete with Solana and Ethereum, will also hold its token generation event (TGE) on February 6. Berachain, one of the long-awaited new L1, has reached the mainnet stage and will launch on February 6. The Berachain launch is one of the long-awaited events in crypto, building up a community in expectation of the airdrop. The token farming period was also used to build up the project’s vaults as a source of liquidity following the mainnet launch. Berachain's mainnet will launch on February 6th, 2025. Welcome to Q5. — Berachain Foundation 🐻⛓ (@berachain) February 4, 2025 Berachain is an EVM-compatible L1 chain, built using the Cosmos chain hub technology. The project attracted $142M in funding from Polychain Capital and other top-tier funds, making it one of the best-financed new launches in the crypto space. Additionally, the Berachain ecosystem will start with pre-launch liquidity, which will be available to DeFi builders. Berachain reached its launch stage after completing a series of pre-launch vaults in partnership with other projects like Lombard, Ethena, and EtherFi. Additionally, Berachain built the Boyco vault program as a form of pre-launch liquidity. Users could lock ETH, WBTC, and other valuable assets to gain access to Berachain and the BERA airdrop. The liquidity from the Boyco vaults would then be moved to Berachain to bootstrap apps and new token launches. Based on the latest reports, all Berachain vaults raised $3.32B . That value locked can compete with other, older L1 and L2 chains, which took years to build liquidity even after launching multiple apps. Berachain will reveal tokenomics a day ahead of the TGE The new chain will have a three-token ecosystem; BERA, the native gas token, the HONEY stablecoin, and BGT, a non-transferable governance token. Berachain aims to build a proof-of-liquidity network, which incentivizes the locking of BERA tokens with validators. BERA will launch with a 500M supply and will gain an immediate listing on the MEXC exchange Innovation Zone. As a warning, the token may be extremely volatile soon after the listing. Instead of producing more BERA, validators will mint and distribute BGT tokens, without the need to have an inflationary reward system. The Berachain team plans to launch the eligibility checker on February 5, while also revealing the full tokenomics conditions. Berachain logged over 13K daily active addresses on its testnet. Over 5.18M active wallets interacted with the protocol, in addition to 21,237 NFT holders that will also receive a share of the airdrop. Besides securing liquidity, Berachain also managed to organize a cult-like community in expectation of its official launch. Berachain also launched a new Honeypaper explaining its tokenomics and staking security mechanism, to explain the risks and rewards of staking BERA and providing liquidity. Berachain to start carrying new projects Berachain aims to launch an entire ecosystem, with multiple Web3 projects and use cases. In the coming days, multiple Berachain tokens will also start spreading, building up the activity on the new L1. Berachain has previously stated its main goal is to launch with a full app ecosystem while securing enough liquidity. The Boyco pre-launch vault program was the key component, to avoid launching apps with limited sources of liquidity. The Boyco pre-launch vault has now accrued enough initial liquidity to allow a full DeFi ecosystem, bootstrapped by the community. 🔥As @berachain mainnet will launch on Feb 6th, 2025, make sure you keep an eye out for upcoming token sales. 1. @bearcage_xyz $BEAR • Date: Feb 6, 2PM UTC+0 • Launching on @FjordFoundry 2. @terp_layer $TERP • Date: Feb 10 • Launching on Fjord Foundry 3. @OverlayProtocol … pic.twitter.com/BrVgiNd2Jv — Bera Daily 🐻⛓ (@Bera_Daily) February 4, 2025 All new projects come with a warning, as token launches can lead to losses or be outright fraudulent. Berachain also expects its share of rug pulls and honeypot tokens. Berachain will also have Wagmipad, a new token launchpad focusing on building its ecosystem. The Berachain launch arrived after a market downturn, though still sparking enthusiasm for the token’s potential. Berachain has been in the making since the 2021 bull market and aims to rebuild a similar Web3 ecosystem. However, the project may face skepticism and an outflow of users, as Ethereum-based DeFi is slowing down again. The project also launched and traded several NFT collections, which have now lost most of their value. Cryptopolitan Academy: Are You Making These Web3 Resume Mistakes? - Find Out Here
