Berachain is an EVM-equivalent L1 built on the Cosmos SDK using Proof of Liquidity as a sybil resistance mechanism, rehypothecating liquidity as security.
Berachain seem to differs from other chains with a tri-token system; these are
- BERA: The gas token
- BGT: Governance token
- HONEY: The native collateralized stablecoin
(You might ask if we need yet another stablecoin, but yeah we need, circulating stablecoin MC is way too high to ignore).
they explain this like:
The rationale behind this model is that a blockchain needs 3 things: a medium to perform work in the form of smart contract execution (gas token), a medium to make decisions about the future of the network (governance token), and a stable denomination to transact in (stablecoin).
Berachain is positioning itself to be the liquidity and DeFi hub of the Cosmos ecosystem, which is already populated by main app-chains though. They had a huge funding rounds, so we will see how it wil lplay out. Mainnet date is still unknown, so check their twitter for more adequate information.
