Berachain BERA

Berachain started as an NFT project, with the only goal being to become a fun little experience in the DeFi sector. However, the project quickly took off, made the NFTs rebase, and it grew a massive community.

Along the way, its developers became aware of major gaps in protocol-level alignment between security and liquidity. Fortunately, they managed to attract VC from many major players in the investment arena, such as Polychain Capital and dao5.

Eventually, the funding allowed them to develop and launch a chain of their own, complete with a native cryptocurrency known as BERA. The project also created and launched a testnet known as Artio.

It also says that users who join the testnet and try it out will likely become eligible for a BERA airdrop, which is expected to take place after the token goes live.

Berachain is unique due to a variety of features that make up its rich ecosystem. The first of them is Proof of Liquidity, which is a unique consensus model that builds on top of Proof of Stake model, but also addresses its downsides.

Other than that, the project has its own decentralized exchange called BEX, which is short for Berachain DEX; as well as a native stablecoin called Honey, and a governance token BGT.

It also features a lending service called BEND, where users can supply assets and unlock the potential to borrow the HONEY stablecoin.

The project allows users to trade their favorite pairs with leverage, and it offers a BGT Station, which is a hub for BGT Governance. Finally, it has even created its own block explorer, simply known as Beratrail.