Berachain, a bear-themed DeFi project run by pseudonymous co-founders, is expected to reach unicorn status after raising over $69 million in a fund round led by Brevan Howard Digital and Framework Ventures, Bloomberg reported, citing sources familiar with the matter. 

Berachain’s projected value stands at $1.5 billion following the latest funding round through selling tokens, according to the Bloomberg report. 

The Cosmos-based, EVM-compatible Berachain focuses on DeFi trading, lending and borrowing services with its tri-token system. The platform consists of native gas token bera, honey stablecoin and “non-transferable” governance token BGT, the project said. With the mechanism, users can stake bera to earn BGT and receive rewards in honey for governance participation.

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