Earlier this morning, Berachain officially announced the launch of the Airdrop Checker (Airdrop Query Link: https://checker.berachain.com/) and revealed the BERA token economic model. According to the official documentation, the total initial supply of the Berachain official token, BERA, is 500,000,000 tokens, with no maximum supply limit (annual inflation rate is approximately 10%). The specific allocation breakdown is as follows:

• Initial Core Contributors: 84,000,000 BERA, accounting for 16.8% of the initial total supply. This portion will be allocated to advisors and Big Bera Labs members.
• Investors: 171,500,000 BERA, accounting for 34.3% of the initial total supply. This portion will be allocated to Berachain’s seed round, Series A, and Series B investors.
• Community: 244,500,000 BERA, accounting for 48.9% of the initial total supply. This portion is further divided into three parts:
  1. Airdrop, accounting for 15.8% of the initial total supply, including testnet users, Berachain NFT holders, ecosystem NFT holders, social supporters, ecosystem dApps, community builders, and others.
  2. Future Community Initiatives, accounting for 13.1% of the initial total supply, to be distributed through incentive programs, grants, etc., specifically for applications, developers, and users, conducted through snapshots and other methods.
  3. Ecosystem and Research & Development, accounting for 20% of the initial total supply. 9.5% of the BERA tokens will be unlocked at TGE for ecosystem growth, developer tools/infrastructure, liquidity provision, etc.

BERA Token Economic Model

As of now, several centralized exchanges, including Binance, OKX, Bybit, Bitget, as well as South Korean exchanges Upbit and Bithumb, have announced that they will launch BERA spot trading at 9 PM Beijing time today. In addition, it is worth mentioning that Binance will offer BERA airdrop rewards to users who subscribe to the SimpleEarn product with BNB between January 22 and January 26.

With its launch on Binance and Upbit, will Berachain become the next “Wang Tian-level” project? Below, Odaily Planet Daily takes you through this project, which institutions have defined as a new-generation super L1 blockchain designed to break the liquidity dilemma of public chains.

Project Introduction: Well-funded L1 Blockchain

Berachain is an L1 blockchain compatible with the Ethereum Virtual Machine (EVM), built on the Cosmos SDK, and originated from the Bong Bears NFT series in 2021. The project was initially co-founded by several active figures in top DeFi communities. Although the founding team has deep experience and keen market insight in the DeFi space, developing a public chain requires substantial technical support. During this process, the Berachain team connected with the Polaris team, which focuses on EVM compatibility development, and quickly reached a collaboration. Together, the two teams drove the development of Berachain, ultimately forming the current blockchain architecture.

Technically, Berachain will adopt the technological solutions provided by the Polaris team to create a high-performance EVM-compatible public chain based on the Cosmos architecture. In terms of mechanism design, Berachain employs the unique Proof of Liquidity (PoL) consensus mechanism, which promotes the prosperity and development of the DeFi ecosystem by incentivizing on-chain liquidity. The goal is to create a more efficient and dynamic decentralized financial platform.

According to ROOTDATA, Berachain has completed two rounds of financing, raising a total of $142 million, as follows:

• On April 20, 2023, Berachain announced the completion of a $42 million Series A round, led by Polychain Capital, with participation from OKX Ventures, Hack VC, Dao 5, Tribe Capital, Shima Capital, Robot Ventures, Goldentree Asset Management, former Dragonfly Capital partners, Celestia founder Mustafa Al-Bassam, Tendermint co-founder Zaki Manian, and 20 other DeFi project founders.
• On April 12, 2024, Berachain announced the completion of a $100 million Series B round, co-led by Brevan Howard Digital’s Abu Dhabi subsidiary and Framework Ventures, with participation from Polychain Capital, Hack VC, Tribe Capital, and other institutions.

With its substantial funding background, the news of the Berachain token query immediately sparked heated discussions in various “airdrop hunting” communities. Users who had previously interacted eagerly checked their token balances, but this was followed by widespread dissatisfaction across social media…

A certain “Airdrop Hunting Studio”: Over 1 million addresses participated in testnet interactions but only received a little over 1,000 BERA tokens

In response to complaints from various communities about not receiving the BERA airdrop despite interacting with the Berachain testnet, Odaily Planet Daily communicated with several “airdrop hunting studios.” According to one studio, they mentioned that over 1 million testnet addresses were involved, but they only received a little over 1,000 BERA tokens as airdrop. According to Whales Markets data, the pre-market price of BERA tokens was around $8.8, which means their earnings were only about $10,000, far below their expectations.

Pre-market price of BERA on Whales Markets

According to the interviewee, many “airdrop hunting studios” experienced a “wipeout” situation in the Berachain testnet interactions. Although they participated in many testnet interactions, they ultimately received fewer tokens than those who held BNB, leading to complaints about the project’s airdrop rules, with many “big airdrop hunters” joking about how “they made nothing” on the X platform.

No airdrop, but forced to lock up for 3 months

It wasn’t just the “airdrop hunters” who participated in the testnet interactions that were affected; even users who participated in Berachain’s pre-deposit program were not spared and faced “backlash.” Many users reported that they deposited funds on the first day of the pre-deposit channel, incurring high Gas fees, but when they checked today, they had not received any tokens.

Additionally, many users did not pay attention to the rule that the withdrawal channel would only open after the mainnet launch (i.e., three months from today).

If users are willing to accept the loss, they can still recover their previously deposited ETH. According to community feedback, if users do not want to wait until the Berachain mainnet launch in three months to redeem their previously deposited ETH through the official channel, they can currently exchange beraSTONE for ETH via unofficial pools. Currently, 1 beraSTONE is roughly exchangeable for 0.98 WETH, so after excluding transaction fees, the net loss when converting back to ETH is about 2%.

(Example demonstration using OKX wallet)

So, with Berachain launching on Binance and Upbit, will it rise against the tide of dissatisfaction among “airdrop hunters” tonight, or will it face a situation where no one takes the tokens, opening at a high point? Odaily Planet Daily will continue to report on this.

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