According to Bloomberg, Layer 1 blockchain Berachain is becoming a unicorn company with over $69 million in funding led by Brevan Howard Digital and Framework Ventures. Berachain raises funds through the sale of digital tokens, and its valuation is expected to reach $1.5 billion.
Brevan Howard Digital and Framework Ventures have both declined to comment, and Berachain has not immediately responded to requests for comments.
Built by an anonymous team, Berachain is a public chain focused on decentralized finance (DeFi) and is compatible with EVM. It is built on the Cosmos SDK and adopts the Proof of Liquidity (PoL) consensus mechanism. The blockchain has three main tokens: Gas token BERA, governance token BGT, and stablecoin Honey.
Berachain secured $42 million in funding led by Polychain in April 2023, with participating institutions including Hack VC and OKX Ventures. Berachain’s public testnet “Artio” was released to the public in January this year.
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