Token

Berachain

Berachain is preparing a hard fork that will replace its dual-token incentive model with one centered on its main BERA token.
Set for Wednesday at 4 pm UTC, the hard fork will end Bera Governance Token (BGT) emissions and shift the network's incentive system to Wrapped BERA (WBERA), the Berachain Foundation <a href="https://x.com/berachain/status/2074495694371783166" rel="noopener noreferrer nofollow">announced</a> in a Tuesday X post.
Following the upgrade, the network will distribute fixed amounts of WBERA instead of BGT as block rewards. The change replaces Berachain's previous dual-token model, which split the network's functions between the transferable BERA token and the non-transferable governance token BGT.
Berachain said annual percentage rates (APR) could triple after the upgrade, though it warned yields may fluctuate during the first few days.
<h2 id="berachain-foundation-strives-for-a-simpler-token-economy">Berachain Foundation strives for a “simpler” token economy&nbsp;</h2>
The Berachain Foundation said the upgrade replaces its BGT-based reward system with one centered on sWBERA, the staked version of WBERA, which it described as simpler and more sustainable.
Before the upgrade, users seeking higher yields had to navigate multiple reward mechanisms and liquid staking tokens tied to BGT.
The transition will occur in two stages. WBERA emissions began Tuesday, while Wednesday's hard fork will halt BGT emissions.
Reward vaults and liquid staking incentives tied to BGT will be phased out in the days following the hard fork.
Related: <a href="https://cointelegraph.com/news/solana-foundation-framework-protocol-governance" rel="noopener noreferrer nofollow">Solana Foundation launches framework for protocol-level governance</a>
<h2 id="bera-falls-7-ahead-of-hard-fork-as-network-activity-remains-muted">BERA falls 7% ahead of hard fork as network activity remains muted</h2>
The BERA token fell 7% in the 24 hours to 8:34 am UTC, extending its decline over the past year to 88%, according to <a href="https://coinmarketcap.com/currencies/berachain/" rel="noopener noreferrer nofollow">CoinMarketCap</a>.
<img alt="" height="447" src="https://s3-images.ctmedia.io/media/content/pasted-image-1945.png" width="1011">
BERA/USD, 1-year chart. Source: CoinMarketCap
Berachain's total value locked (TVL) fell by $1.79 million, or 3%, over the same period. The network ranks 37th by TVL with $56 million locked, according to <a href="https://defillama.com/chains" rel="noopener noreferrer nofollow">DefiLlama</a>. Over the past 24 hours, Berachain generated $41 in chain fees and $3,359 in application revenue while distributing $14,816 in token incentives.
Magazine: <a href="https://cointelegraph.com/features/how-much-longer-until-bitcoin-finds-cycle-bottom-analysts-disagree" rel="noopener noreferrer nofollow">Has Bitcoin bottomed for this cycle? Analysts say 'not yet'</a>

Berachain hard fork to replace dual-token model with WBERA rewards

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Cointelegraph

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