As per insider sources cited in a Bloomberg report, the anonymous founders of Berachain, a DeFi project with a bear-themed approach, are expected to become unicorns after a successful fundraising round that raised over $69 million, led by Framework Ventures and Brevan Howard Digital.
With token sales after this most recent fundraising round, Berachain’s estimated valuation is $1.5 billion. The Ethereum Virtual Machine (EVM)-compatible project, which is based on Cosmos, is mainly focused on DeFi lending, borrowing, and trading.
The bera gas token, the honey stablecoin, and the non-transferable governance token BGT make up its distinctive tri-token architecture.
On the Berachain platform, users can participate in governance activities and stake Bera tokens to gain BGT awards and honey incentives. At the heart of its ecosystem is this mechanism, which rewards user involvement with tokens and allows users to actively participate in governance.
Amidst the recent digital-asset bull run that has seen Bitcoin hit new highs, Berachain, one of the original cryptocurrencycurrency projects, has rocketed to unicorn status, claiming a valuation over $1 billion. This accomplishment shows that, despite a decline in transactions last year, venture capital investors are once again interested in investing in cryptocurrencycurrency projects.
