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Layer 1 Berachain to Airdrop 80 Million BERA Tokens as DeFi-Focused Network Goes Live
As the decentralized finance (DeFi)-focussed network prepares to go live, Layer 1 Berachain will airdrop just under 80 million of its BERA tokens to ecosystem and exchange users.
Airdrop Distribution
The total initial supply of BERA is 500 million tokens, with 48.9% allocated for community engagement, including airdrops, ecosystem development, and research.
The airdrop distribution included testnet users, social media participants, and other community members. Token allocations can be viewed on the Berachain airdrop checker as of Thursday morning and can be claimed using various EVM wallets like Metamask and OKX Wallet.
Token Allocation Breakdown
“The BERA token distribution includes an airdrop of 15.75% to Berachain community members, applications, liquidity providers, and more as recognition of their contributions to an incredibly robust pre-launch ecosystem, and their role in helping to make the fake chain real,” a Berachain post reads.
Pre-Launch Markets
Pre-launch markets for BERA values the token at $8, giving the airdrop a value of $632 million and the network a $4 billion market capitalization based on current speculation. These values are expected to shift wildly within 24 hours after BERA goes live.
Proof-of-Liquidity Consensus Mechanism
The upcoming blockchain uses a proof-of-liquidity consensus mechanism to reward liquidity provision. In the past year, it has gained a cult following and an engaged social media community — with a catchphrase questioning if the chain “was even real?”
Pre-Deposits Application
A pre-deposits application meant to bootstrap liquidity on Berachain racked up over $3 billion from users in under a week, as CoinDesk reported, indicative of the massive investor interest in the network.
Conclusion
In conclusion, Layer 1 Berachain’s airdrop of 80 million BERA tokens to ecosystem and exchange users marks a significant milestone in the network’s progression towards live deployment. The token distribution breakdown highlights the network’s commitment to community engagement and recognition of community members’ contributions.
FAQs
Q: What is the total initial supply of BERA tokens?
A: 500 million tokens
Q: How much is allocated for community engagement, including airdrops, ecosystem development, and research?
A: 48.9%
Q: What is the value of the airdrop in terms of the current token price?
A: $632 million
Q: What is the current market capitalization of the network?
A: $4 billion
Q: What is the consensus mechanism used by the upcoming blockchain?
A: Proof-of-liquidity
Q: How much did the pre-deposits application raise in under a week?
A: Over $3 billion
