Here's an interesting story about Berachain that I recently researched. It turns out they launched their mainnet a year ago, in February 2025, with a fairly generous airdrop of the BERA token. They distributed about 79 million tokens, which was 15.8% of the total genesis issuance. I looked into their structure — three tokens in the ecosystem: BERA for gas and staking, BGT for governance, and HONEY as a stablecoin. Quite an unusual scheme.

Currently, the Berachain airdrop has long been distributed, but it's interesting to see how the project is developing. They relied on a Proof-of-Liquidity mechanism instead of traditional PoS — the idea was for people to either stake tokens or provide liquidity to DeFi protocols. Basically, they tried to build an ecosystem where everyone is incentivized. At launch, they attracted $1.6 billion in liquidity through the Boyco program, which showed serious interest.

Now, BERA is trading at a price that gives it a market capitalization of about $43 million, with approximately 107 million tokens in circulation. I don't know if the project met expectations, but the PoL concept was truly innovative for its time. Maybe some of you participated in the Berachain airdrop or hold tokens? I’d be interested to hear how people evaluate the project now.