Berachain reportedly raised $69 million in its latest funding round: Bloomberg

Vera Chaina bear-themed DeFi project run by unnamed co-founders, is expected to reach unicorn status after raising more than $69 million in a funding round led by Brevan Howard Digital and Framework Ventures, sources familiar with the matter told Bloomberg. It was quoted and reported.

According to Bloomberg, after its latest funding round via token sale, Berachain has an estimated valuation of $1.5 billion. report.

Cosmos-based, EVM-compatible Berachain focuses on DeFi trading, lending, and borrowing services. Tri Token System. The platform is comprised of natural gas token Bera, Honey Stablecoin, and non-transferable governance token BGT, the project said. This mechanism allows users to stake Vera to earn BGT and receive honey rewards for participating in governance.

Last year, Berachain raised $42 million in a private token round led by Polychain Capital, with participants including Hack VC, Shima Capital, Robot Ventures, and Goldentree Asset Management.

Berachain did not immediately respond to The Block’s request for further comment.

Upcoming mainnet

Verachain and Preparing for mainnet launch, expected in the second quarter of this year. Last January, we launched a public testnet called Artio.

Berachain’s network utilizes a unique consensus mechanism called “Proof of Liquidity.” said Strengthens security by increasing liquidity. While proof-of-stake networks typically allow users to choose between contributing to security by staking with validators or providing on-chain liquidity on DeFi platforms, Berachain’s proof-of-liquidity allows users to first provide liquidity to DeFi sets, thereby contributing to the network’s security. Helps you contribute to security. Basic elements.

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