The Berachain Foundation announced last night that the long-awaited mainnet will be launched on February 6, 2025, and the Token Generation Event (TGE) will occur simultaneously with the mainnet launch. More details on the token economics and the token airdrop query will be made available later today.
According to the whitepaper published by Berachain, Berachain is a new EVM-compatible chain that aims to solve the problems of the traditional Proof of Stake (PoS) model through a Proof of Liquidity (PoL) mechanism, particularly by shifting the incentive mechanism from primarily rewarding validators to prioritizing users and DApps.
Berachain's economic model will adopt a dual-token model, with BERA (Gas & Staking token) and BGT (Governance & Reward token). BERA is the core token of Berachain, used to pay transaction fees, and staking BERA can make one a validator and participate in block production.
BGT tokens can only be obtained through staking BERA or providing liquidity, and holders can vote to decide Berachain's governance. It is important to note that BGT itself is non-transferable, but can be exchanged 1:1 for BERA (to ensure that BGT can only be earned through contributions, BERA cannot be converted back to BGT). The amount of BGT held by validators will affect the amount of block rewards they receive.
