Proof of Stake blockchains have a governance token that is used to secure the network through staking with validators. The economic value of all the tokens staked in the network adds up to form the security of the chain. Oftentimes, this is the main network token.
However, because of Berachain's Proof of Liquidity model, this token is
BGT (Bera Governance Token).
BGT is non-transferrable and can only be acquired by depositing liquidity in the native BEX.
How to Get BGT
BGT can be accumulated by performing certain actions in authorized dApps. Some examples include:
- Depositing liquidity in the native BEX for an LP pair that is earning
bHONEYvault for Berps
What can you do with BGT?
BGT, when delegated to a validator, can be used to create and vote on governance proposals such as proposals that decide on which LP pools receive
BGT emissions. Once delegated, you will start earning various rewards from the network.
BGT can also be burned 1:1 for
BERA. This is a one-way function,
BERA cannot be converted into