According to Bloomberg, Berachain, a Cayman Island-based developer of an Ethereum-compatible, high-performance blockchain designed for financial applications, raised $69m in funding.
The round, which valued the company at $1.5 billion, was co-led by Brevan Howard Digital and Framework Ventures.
The company intends to use the funds to continue to expand operations and its developmenty efforts.
Berachain is a high-performance EVM-compatible blockchain built on Proof-of-Liquidity consensus. Proof-of-Liquidity is a novel consensus mechanism that aims to align network incentives, creating synergy between Berachain validators and the ecosystem of projects. Berachain’s technology is built on Polaris, a high-performance blockchain framework for building EVM-compatible chains on-top of the CometBFT consensus engine.
FinSMEs
15/03/2024