Berachain is going single. The network just kicked off the first stage of its PoL Next upgrade, a hard fork that axed the dual-token incentive model and replaced it with Wrapped BERA rewards.
Here’s what changed: BGT — the Bera Governance Token — is getting phased out. Instead, block rewards now come in WBERA. The Berachain Foundation says this is simpler and more sustainable. No more juggling multiple reward mechanisms and liquid staking tokens just for better yields.
The hard fork happened at 4 pm UTC Wednesday. WBERA emissions actually started a day early, but Wednesday’s fork is what kills BGT emissions for good. Reward vaults and liquid staking incentives tied to BGT will fade over the next few days.
The foundation claims APR could triple after the upgrade. Though they also warned yields might bounce around during the first few days. So, caveat emptor.
BERA wasn’t celebrating. The token dropped 7% in 24 hours ahead of the fork and is down 88% over the past year. TVL slipped too — down $1.79 million to $56 million locked. That puts Berachain at 37th by TVL. Chain fees over the last 24 hours? $41. Not exactly setting the world on fire.
