Berachain (BERA)

Blockchain Technology

Berachain is a Layer 1 blockchain that is fully compatible with Ethereum (EVM-identical). It uses a unique Proof of Liquidity (PoL) consensus mechanism to connect liquidity and security at the network level.

DeFi Features

It offers built-in DeFi building blocks like Automated Market Makers (AMM), perpetual contracts (Perps), lending, and liquidity pools, all powered by network validators.

Ecosystem Support

Validators help direct network rewards to support decentralized applications (dApps) built on Berachain, helping to grow and strengthen the ecosystem.

Development Tools

Berachain provides BeaconKit, a high-performance blockchain software development kit (SDK) that helps developers create modular Layer 1 blockchains easily.

Community and Growth

Started as a fun NFT project, Berachain grew a strong community and raised venture capital to launch its blockchain, focusing on aligning liquidity and security in DeFi.

Pros

• Berachain is an EVM-identical Layer 1 blockchain, making it compatible with Ethereum tools and smart contracts.
• It uses a unique Proof of Liquidity (PoL) consensus mechanism that aligns liquidity and security at the network level.
• The chain includes built-in DeFi features like AMM, perpetuals, lending, and pools powered by validators, simplifying decentralized finance.
• Validators help direct network rewards to support decentralized applications, encouraging ecosystem growth.
• It offers a high-performance blockchain SDK called BeaconKit for building modular Layer 1 blockchains.
• The project has strong community support and backing from top venture capital firms.

Cons

• No specific cons are detailed in the available information.

Founders of Berachain

Berachain was founded by four pseudonymous individuals known as Papa Bear, Smokey the Bera, Dev Bear, and Man Bera. These founders have strong backgrounds in blockchain and crypto, and they developed Berachain as an EVM-compatible layer-1 blockchain with a unique Proof-of-Liquidity consensus mechanism.

Lead Investors

Brevan Howard Digital and Framework Ventures co-led Berachain's latest $100 million Series B funding round.

Other Major Investors

Polychain Capital, Hack VC, Tribe Capital, Shima Capital, Robot Ventures, Hypersphere Ventures, Nomad Capital, Arrington Capital, Samsung Next, Amber Group, Cypher Capital, Laser Digital by Nomura Group, Hashkey Capital, Rubik VC, and angel investors including Sandeep Nailwal (co-founder of Polygon), Yat Siu (Chairman of Animoca Brands), Feng Bo, and Antony Lewis have also invested in Berachain.

Investment Rounds

• Series A round raised $42 million, led by Polychain Capital with participation from Hack VC, dao5, Tribe Capital, Shima Capital, CitizenX, and Robot Ventures.
• Series B round raised $100 million, led by Brevan Howard Digital and Framework Ventures, with participation from other notable investors.

Total Funding

Berachain has raised a total of approximately $142 million over multiple funding rounds.

Halal Status of Berachain

Berachain is potentially halal if it fully eliminates interest (riba) and complies with Islamic finance principles. However, there is currently no official fatwa confirming its halal status. Expert Shariah analyses are available but no definitive ruling has been issued yet.

Reasoning

• Berachain uses a Proof of Liquidity consensus and a two-token model (BERA and BGT) for network security and governance.
• Islamic finance principles prohibit interest, excessive uncertainty, and gambling, which must be absent for a crypto to be halal.
• Without an official fatwa, the halal status depends on whether Berachain’s structure avoids these prohibited elements.

For more details, visit Berachain's website or consult Islamic finance experts.