Berachain $BERA
I think this is the ultimate grift L1. It is a pure fork that brings nothing to the table. It's almost as useless as Blast. It is just another VC insider grift, people wanting to get rich off of Ethereum tech.
A huuge supply is given to founders and early investors, who got in at anything from $50M.
To add to that, their inflation will be in the form of another token, $BGT, which can be 1:1 converted to $BERA, meaning $BERA will have perpetual inflation and the token will tank indefinitely. Their entire "innovation" is that part of the inflation will be received by validators and part by chosen apps and LPers, which just means they need more inflation than otherwise to keep the chain secure if they're also going to incentivize users by giving them the token.
While $BERA is worth more than 0, some people will provide whitelisted LP to earn incentives, probably mainly for native tokens like $BERA, which insiders can use to dump huge amounts into as it unlocks lol. For the non native tokens like $ETH, $USDT etc, go ahead and farm the incentives if you think the incentives will cover the impermanent loss, and convert earned $BGT to $BERA and dump it instantly.
I think $BERA can't innovate for shit, this is pure VC grift, it won't exist in 10 years, the entire thing will shut down.
I think this is the ultimate grift L1. It is a pure fork that brings nothing to the table. It's almost as useless as Blast. It is just another VC insider grift, people wanting to get rich off of Ethereum tech.
A huuge supply is given to founders and early investors, who got in at anything from $50M.
To add to that, their inflation will be in the form of another token, $BGT, which can be 1:1 converted to $BERA, meaning $BERA will have perpetual inflation and the token will tank indefinitely. Their entire "innovation" is that part of the inflation will be received by validators and part by chosen apps and LPers, which just means they need more inflation than otherwise to keep the chain secure if they're also going to incentivize users by giving them the token.
While $BERA is worth more than 0, some people will provide whitelisted LP to earn incentives, probably mainly for native tokens like $BERA, which insiders can use to dump huge amounts into as it unlocks lol. For the non native tokens like $ETH, $USDT etc, go ahead and farm the incentives if you think the incentives will cover the impermanent loss, and convert earned $BGT to $BERA and dump it instantly.
I think $BERA can't innovate for shit, this is pure VC grift, it won't exist in 10 years, the entire thing will shut down.
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