A layer-1 blockchain startup has successfully secured a substantial nine-figure amount in its series B funding round, with prominent participation from tech behemoth Samsung and various cryptocurrency venture capital entities.
In a recent announcement, Berachain (BERA), a blockchain platform focusing on decentralized finance (DeFi), revealed that it had amassed an impressive $100 million in its latest funding cycle, spearheaded by Brevan Howard Digital and Framework Ventures.
Among the notable investors in Berachain are Samsung Next, HashKey Capital, Animoca Ventures, and Nomad Capital.
According to a statement from Smokey The Bera, co-founder of Berachain, as reported by Bloomberg, “We view this fundraising as a significant affirmation of our strategy in constructing a blockchain that is informed by genuine user and developer feedback, while delivering value to those actively contributing to the network’s expansion.”
Berachain, as outlined on its website, is engineered to offer some level of compatibility with Ethereum (ETH) smart contracts and tools. Nevertheless, it does not aim to replicate the entire Ethereum Virtual Machine (EVM) environment.
Berachain is an EVM-compatible layer-1 blockchain constructed on the Cosmos-SDK (software development kit) framework, supporting identical tooling and operations while integrating additional features within the chain to optimize for proof-of-liquidity and common abstracted use-cases like decentralized exchanges and Oracles.
The platform will introduce three key assets – the BERA token for transactional purposes on the network, the BGT token serving as its governance currency, and HONEY, the protocol’s collateralized stablecoin.
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