A new consensus model. A bear-themed brand. And one of the most debated token launches in recent memory.

Berachain is trying something radically different. Instead of just rewarding validators, it pays liquidity providers—turning the traditional blockchain incentive model on its head.

But not everyone is convinced. Some critics say too much of the token supply went to VCs. Others question whether “proof of liquidity” can actually work at scale.

In this episode, Smokey, Chief Smokey Officer at Berachain, joins Unchained to break it all down. Why did Berachain choose to make itself EVM-identical? What really happened with the token launch? And what’s next?

Show highlights:

1:47 How Smokey got into crypto and how that led to the founding of Berachain
7:24 What proof of liquidity is and what problems it solves
12:06 Whether there’s an incentive problem in how BGT and BERA are designed
16:03 Why Smokey believes the EVM has the “largest capital base”
21:12 How Berachain leveraged culture to accrue network effects
26:23 How Berachain achieved so much TVL growth
30:01 What Smokey thinks about the big allocation of BERA to VCs
35:38 How the bear-themed NFTs were born
39:26 How the project was able to buy back a portion of the tokens sold to VCs
40:58 Whether Smokey should have done things differently when launching the token
43:21 Smokey’s response to the criticism of private participants staking BERA
46:57 Why Smokey believes that the inflation will be useful for ecosystem growth
52:23 What’s next in Berachain’s roadmap

Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

Thank you to our sponsors!

Bitwise

Guest:

Smokey the Bera, Chief Smokey Officer at Berachain

Learn more about your ad choices. Visit megaphone.fm/adchoices

September 28th, 2022. Explosions Destroy Major Natural Gas Pipelines from Russia to Europe.