CandleFocus Berachain Hasn't Launched Yet But Has Already Attracted $1.7 Billion—Here's Why
2025-01-16
Author: Content Editor
Berachain, a layer-1 blockchain network, has raised over $1.7 billion in deposit vaults from investors seeking rewards for helping bootstrap protocol liquidity, despite not yet launching its mainnet. The pre-launch deposit vaults allow users to deposit Wrapped Bitcoin, Ethereum, and other supported assets through protocols like StakeStone or Lombard Finance to gain early access to Berachain. Deposits are spread across 12 different protocols, providing users with a head start on rewards in the Berachain ecosystem. The rewards vary based on the vaults or protocols users interact with. With a total locked value of over $1.7 billion, Berachain's pre-launch vaults would make it the 10th largest blockchain by TVL. The timeline for the mainnet launch has not been disclosed, but it is expected to follow shortly after the Boyco launch. Berachain utilizes a consensus mechanism called proof-of-liquidity and recently secured $100 million in funding to further develop its blockchain.
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