Berachain Launches Artio Testnet, Targets Mainnet by Mid-2024
Berachain, a layer-1 project built on Cosmos and EVM-compatible, has announced the launch of its testnet named Artio, paving the way for a mainnet release in Q2/2024.
Berachain Launches Artio Testnet, Targets Mainnet by Mid-2024
On the evening of January 11, the layer-1 platform developed on Cosmos and compatible with EVM, Berachain, deployed its Artio testnet.
Berachain’s Public Testnet "Artio" is now live.
— Berachain 🐻⛓ (@berachain) January 11, 2024
The March of the Beras begins at:
🐻 https://t.co/Wozhn33i5u 🐻 pic.twitter.com/HKW1PLzKFs
Artio is open for community users to experience, gearing up for the mainnet launch scheduled for Q2/2024.
Previously, Berachain's closed testnet for projects saw over 50 applications deployed in just one month. Berachain has stated it currently has more than 130 development teams committed to launching products on this layer-1 platform, including well-known names like Pendle, Redacted, Sudoswap, and Abracadabra.
Upon mainnet deployment, Berachain plans to integrate asset custody providers, cross-chain bridges, and data availability solutions.
Berachain utilizes the Proof-of-Liquidity consensus mechanism, a variant of Proof-of-Stake, aiming to balance staking incentives and liquidity provision on the blockchain. Users can only choose to provide liquidity to DeFi projects via the Proof-of-Liquidity mechanism, rather than choosing to delegate tokens to validators or participate in liquidity provision as per Proof-of-Stake.
Berachain features three tokens: BERA (transaction fee token), BGT (staking rewards and governance token), and HONEY (stablecoin). After providing liquidity to projects on Berachain, users receive BGT, a non-tradable token. Users can then burn BGT to receive BERA or delegate BGT to the network's validators to earn HONEY.
Originally starting as an NFT project in 2021, Berachain expanded its team with former developers from Sui, Polygon, Mantle, Coinbase, Chainlink, and Aave, prompting its pivot to build a Cosmos-based layer-1 solution.
In April 2023, Berachain raised $42 million from various funds including Polychain Capital, Hack VC, Shima Capital, Robot Ventures, and Goldentree Asset Management.
