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CryptoScenario
@zekaviva
Who created Berachain? You can now check your wallet ranking here: https://layerhub.xyz/search?p=berachain Berachain is a Layer-1 blockchain built to support decentralized finance (DeFi) applications with compatibility for Ethereum’s ecosystem. Initially launched as an NFT project called "Smoking Bears," Berachain has since transformed into a DeFi-focused platform featuring the unique *Proof of Liquidity* (PoL) consensus mechanism. This PoL system encourages users to stake liquidity instead of tokens alone, enhancing the platform’s functionality and providing more liquidity for DeFi activities. Berachain’s economy is powered by three main tokens: 1. **BERA**: the network’s gas and utility token for transaction fees. 2. **BGT**: a soulbound governance token acquired by staking BERA and used in the platform’s DAO to decide protocol changes. 3. **HONEY**: a stablecoin pegged to the USD, created by collateralizing other stablecoins through smart contracts.
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