How much did berachain raise?

Berachain raised $42 million in a private token round led by Polychain Capital. The new Layer 1 blockchain is being built on the Cosmos SDK and will be EVM compatible.

Is berachain EVM compatible?

The new Layer 1 blockchain is being built on the Cosmos SDK and will be EVM compatible. Berachain, a bear-themed crypto project run by a group of pseudonymous co-founders known as Homme Bera, Dev Bear, Papa Bear and Smokey the Bera, has raised $42 million to launch a new Layer 1 blockchain.

Is berachain a proof-of-stake network?

Though staking is still a core part of protocol functionality, Berachain is not a strictly Proof-of-Stake network. The team has developed a unique consensus method for the chain called Proof-of-Liquidity. As the name suggests, Proof-of-Liquidity (PoL) is designed to incentivize users to provide liquidity on Berachain.

What is berachain & how does it work?

Berachain’s origins trace back to a non-fungible token (NFT) collection, Bong Bears, which three of the four pseudonymous co-founders launched in August 2021. The project’s OpenSea description reads: “100 absolutely zooted NFT bears getting baked.” But even the project’s name (and Smokey’s) is a misnomer.