How Berachain Intends to Deliver on the Hype, with Co-founder Smokey The Bera

It might not surprise you to know that there is a blockchain with a pseudonymous founder whose lore was born out of an NFT collection of cartoon bears smoking weed.

It might surprise you to know that the same blockchain, Berachain, has raised $100 million and blossomed into 2024’s most anticipated crypto projects.

Coinage recently sat down with Berachain co-founder “Smokey The Bera” to explore how the project’s playful exterior belies a deeply strategic and technically innovative foundation that might just continue the trend of surprising the rest of crypto. Smokey, donning his cartoon bear persona, emphasized that Berachain’s unique branding isn’t just for show. 

“Blockchains are closer to brands than they are to cloud computing companies,” he explained. The playful elements, like the website that scrolls up only, are more than mere gimmicks; they’re part of a strategy to differentiate Berachain in an increasingly crowded market. By building a strong, distinctive culture, Berachain aims to attract a community that’s engaged not just by the technology, but by the shared ethos of the project.

While many blockchains start with a technical proposition and build community later, Berachain has flipped that script. The project began as a fun NFT venture centered around bears, which grew into a full-fledged blockchain ecosystem. This unorthodox origin is key to understanding Berachain’s culture—a mix of irreverence and innovation that challenges traditional blockchain narratives. But that narrative won’t have much bite if it doesn’t also deliver on innovation.

At the heart of Berachain’s solution is its Proof of Liquidity consensus mechanism, which Smokey describes as a “variant of Proof-of-Stake” designed to turn liquidity into network security. Unlike traditional staking, where validators earn rewards based solely on their stake, Berachain’s system incentivizes validators to direct block rewards to applications within the ecosystem, creating a more symbiotic relationship between the network and its users.

In practical terms, this means that validators on Berachain don’t just earn rewards passively; they actively contribute to the growth and health of the ecosystem. The network’s native tokens — BGT, BERA, and Honey (a stablecoin) — play crucial roles in this system. BERA acts as the gas token, while BGT, the governance and block reward token, is only earnable through active participation in the network. This setup encourages a dynamic where those who contribute the most to the ecosystem are also those who stand to gain the most from it.

“Our thought was, is there a way that we could actually bake this into the logic of the network itself and embed liquidity into the chain itself?” Smokey said. “You open up an opportunity for validators and protocols to interact with each other in a very symbiotic manner, as opposed to, I think what we traditionally see… effectively volunteers who are looking to extract as much value from protocol transactions as possible.”

Importantly, Smokey is quick to point out that Berachain’s playful branding doesn’t detract from its technical rigor.

“I think there's a time for, like, more fun things,” he said. “Because I think on the one hand, that is something that causes a deeper like mental or psychological impression, but on the other hand, it's just kind of more entertaining that way honestly and I do think that fun-maxing is its own strategy of sorts.”

As Berachain gears up for its full mainnet launch, the team’s focus is on ensuring everything is rock solid, from code audits to economic modeling. Smokey acknowledges the pressure that comes with the project’s growing attention, but is confident that taking the time to get it right will pay off. “We want to make sure that we really do right by the community and deliver a solid product,” he said.

In a space where many projects can feel impersonal or overly technical, Berachain’s community-first approach is at least refreshing. It’s not just about building another blockchain; it’s about building a culture, a brand, and a community that resonates with people. And in that endeavor, Berachain might just be onto something.

As the blockchain world watches Berachain’s next moves and how it will steer its $100 million in funding, one thing is clear: this is a project that’s rewriting the rules, one playful, innovative step at a time.

Coinage members can watch our full episode with Smokey The Bera above. To support our community-owned outlet, own it with us, and unlock other exclusive benefits, mint one of our Membership Passes today or Stake with us today! Chat with Coinage in our Discord.