# Сопутствующие статьи по теме Token

Новостной центр HTX предлагает последние статьи и углубленный анализ по "Token", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

From "Heaven-Sent Public Chain" to "Heaven-Forsaken Public Chain": What Led to the Collapse of Berachain?

Once hailed as a "top-tier public chain," Berachain has seen a dramatic decline, with its new nickname "doomed chain" reflecting its severe downturn. Launched in February 2025 with an innovative Proof-of-Liquidity (PoL) consensus mechanism aimed at boosting DeFi efficiency, the project initially attracted significant interest. Its TVL surged to $3.3 billion, with over 140,000 active addresses. However, the ecosystem quickly deteriorated. TVL has since collapsed to $180 million, and the chain’s daily revenue dropped to just $84. The sharp decline is attributed to several critical issues. The tokenomics heavily favored venture capitalists (VCs), who received 34.31% of the total token supply, while retail participants received minimal allocations. This high Fully Diluted Valuation (FDV) and low circulating supply model led to artificial price spikes followed by a steep crash—BERA fell from a high of $9 to around $0.7, a drop of over 90%. Internal challenges also mounted. The foundation cut most of its retail-focused marketing team and saw key developers, including the chief developer, leave. Community trust eroded further when a Balancer protocol vulnerability forced a network halt in November 2025. Additionally, major token unlocks are scheduled starting February 2026, with 12.16% of supply—including significant VC holdings—set to be released, likely increasing selling pressure. Despite attempts at strategic shifts, including a partnership to use BERA as a reserve asset, the project faces intense community criticism and a loss of developer interest, with many moving to competing chains. The foundation has admitted that its "retail-first" strategy was ineffective, and if given another chance, it would not have sold so many tokens to VCs.

比推01/15 15:24

From "Heaven-Sent Public Chain" to "Heaven-Forsaken Public Chain": What Led to the Collapse of Berachain?

比推01/15 15:24

活动图片