اقتصاد توکنی BERA (BERA)

Berachain is a Layer-1 blockchain built on the Cosmos SDK that utilizes a unique Proof-of-Liquidity (PoL) consensus mechanism. This model is designed to align network security with liquidity provision, addressing the common issue in Proof-of-Stake (PoS) systems where staked capital remains unproductive. Berachain employs a tri-token system consisting of BERA (gas and staking), BGT (governance), and HONEY (stablecoin).

Issuance Mechanism

The issuance of tokens in the Berachain ecosystem is primarily driven by network inflation and the conversion of governance power into utility.

• BERA Issuance: BERA has a total genesis supply of 500,000,000 tokens. It features an inflationary model with an annual rate of approximately 10%. New BERA can also be created through the irreversible burning of BGT at a 1:1 ratio.
• BGT Issuance: BGT is a non-transferable (soulbound) token earned as emissions by users who provide liquidity to whitelisted pools on native protocols like the Berachain Exchange (BEX). The rate of BGT issuance is dictated by validators, who route future inflation through the network's "Berachef" module to various reward vaults.
• HONEY Issuance: HONEY is a fully collateralized stablecoin pegged 1:1 to the US Dollar. It is minted by users swapping USDC for HONEY through the protocol.

Allocation Mechanism

The genesis supply of 500 million BERA is distributed across several key stakeholder groups to balance community growth with institutional support:

The community airdrop specifically targeted testnet users, NFT holders (such as Bong Bears), liquidity providers, and early contributors to the "Boyco" liquidity program.

Usage and Incentive Mechanism

Berachain’s Proof-of-Liquidity creates a "flywheel" effect where liquidity directly supports network security and vice versa.

• BERA Usage: BERA is the native gas token used to pay for transaction fees. It is also staked to activate validators. The probability of a validator being selected to propose a block is proportional to the amount of BERA they have staked.
• BGT Usage: BGT is used for governance, allowing holders to vote on which liquidity pools receive BGT emissions. It can also be delegated to validators to increase their reward weight.
• Incentive Structure: Validators receive BGT emissions based on their delegated boost and direct these rewards to specific "Reward Vaults." Protocols compete for this liquidity by offering "bribes" (incentives) to BGT holders or validators to direct emissions to their respective pools. This creates a market for liquidity where protocols, validators, and users are economically aligned.

Locking and Unlocking Mechanism

Berachain employs a structured vesting and locking schedule to ensure long-term sustainability and mitigate sudden market dilution.

Locking Mechanism

• BGT Locking: BGT is inherently "locked" as it is non-transferable and cannot be traded on secondary markets. It can only be earned through active participation (liquidity provision) or converted into BERA.
• Staking Lock: BERA staked with validators is subject to locking periods. For certain ecosystem vaults, such as the uniBTC Berachain Vault, withdrawals are enabled three months after the mainnet launch.

Unlocking Time and Schedule

The BERA token follows a structured vesting schedule for core stakeholders. Following an initial one-year cliff, 1/6 of the locked tokens are released, with the remaining 5/6 unlocking linearly over the subsequent 24 months.

The following table outlines the projected upcoming unlock events for Berachain BERA:

The largest single unlock event is scheduled for February 6, 2026, representing nearly 40% of the circulating supply, followed by consistent monthly linear unlocks.