Berachain: The New Kid on the Blockchain Block! 🚀💰

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Ah, Berachain! This sprightly little EVM-identical Layer 1 blockchain has decided to throw a party, and guess what? It’s already outshining the big shots like SUI, Avalanche, and Arbitrum in the Total Value Locked (TVL) game, all within a mere 20 days of its Mainnet launch! 🎉

With a dazzling $3.27 billion locked up before taking a slight breather, Berachain has danced its way to the sixth position in DeFi TVL, only to slip back to seventh, right behind Base. Talk about a dramatic entrance! 💃

Berachain’s Meteoric Rise and Expanding Playground

In a feat that would make even the most seasoned blockchains green with envy, Berachain has outpaced SUI’s $1.4 billion and AVAX’s $1.23 billion TVL. And hold onto your hats, folks! Most native protocols are still warming up, hinting at even more growth potential. With a circulating market cap of $700 million, it’s strutting its stuff among the top 100 on CoinMarketCap, trading at a cool $6.7. Not too shabby, eh? 😏

Meanwhile, DeFiLlama’s data shows that Berachain has been the belle of the ball, topping the charts in net bridge inflows over the past week. Who knew blockchains could be so popular? 📈

Market experts are buzzing, claiming Berachain’s rapid rise is like finding a golden ticket in a chocolate bar—an asymmetric bet with a hefty upside. Sweet, right? 🍫

But wait, there’s more! Berachain’s growth has been turbocharged by major protocols. Take Infrared Finance, for instance, leading the charge with a whopping $1.52 billion in TVL. Kodiak, the decentralized exchange, is hot on its heels with $1.1 billion, while yield farming protocol Concrete is not far behind, contributing nearly $1.11 billion in locked assets. It’s a veritable buffet of blockchain riches! 🍽️

The BERA Airdrop Drama

Now, let’s talk about the BERA airdrop, shall we? The Bera Foundation decided to sprinkle some fairy dust on the community with a massive airdrop after the Proof-of-Liquidity Layer 1 network launch on February 6. Covering 15.75% of its 500 million token supply, it was hailed as one of the biggest airdrops ever. But, oh boy, did it stir the pot! 🍵

Community members were not amused, feeling the allocations were as fair as a three-legged race. Testnet users got a measly 1.65%, while Bong Bears NFT holders snagged 6.9%. Cue the outrage on social media! The Berachain Foundation defended its choices, citing targeting challenges. Because, you know, it’s tough to please everyone! 🙄

Berachain has become the talk of the town at Token 2049. In April, it raised a staggering $100 million in a Series B round, co-led by Brevan Howard Digital’s Abu Dhabi branch and Framework Ventures, with support from Polychain Capital, Hack VC, and Tribe Capital. In a statement to Bloomberg, co-founder “Smokey The Bera” declared,

“We see this raise as a major validation of our approach to building a blockchain that’s built on feedback from real users and developers, and driving value to those groups who are actually contributing to the network’s growth.”

With this new funding, Berachain is set to spread its wings in Hong Kong, Singapore, Southeast Asia, Latin America, and Africa. The world better watch out—Berachain is on the move! 🌍

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2025-02-25 01:37