Berachain airdrop odds are rising on Polymarket

Berachain, a popular Polychain-powered layer-1 network, is expected to launch its airdrop in 2024, according to most Polymarket users.

Berachain airdrop rates are increasing

A Polymarket survey with over $669,000 in funding puts the odds of Berachain launching its token this year at 67%. This poll has been accurate before as well, as users correctly predicted the last Scroll (SCR) airdrop. They also predicted the confirmed Swell airdrop.

Another $55,528 Polymarket survey reveals that the probability of a Berachain airdrop happening this year has risen to 72% from this month’s low of 42%.

Berachain is one of many new layer-1 networks in the blockchain industry. It is also one of the best-funded platforms, having raised millions of dollars from well-known investors such as Polychain, Hack, Framework Ventures, and Brevan Howard Digital entities.

The network raised $42 million in April 2023, then raised another $100 million in March this year, giving it unicorn status with a $1 billion valuation.

Focused on Decentralized Finance, Berachain has made a lot of progress since its last fundraising in March. In June, the public testnet bArtio launched B2. It has partnered with Binance, which recently integrated its testnet, raising the possibility of the token being listed when it goes public.

Berachain ecosystem is growing

Berachain has attracted the attention of many developers who have launched various projects on the network. For example, BEX is a platform for token swaps and liquidity provision; Honey is a platform for minting and using Berachain’s native stablecoin, and Bend allows users to supply and borrow the $HONEY token.

Many mainstream networks launched their airdrops this year. Wormhole (W), a leading bridging solution, launched its airdrop a few months ago and achieved a fully diluted valuation of $2.8 billion. ZKsync (ZK) achieved an FDV of $2.6 billion, while EigenLayer was valued at $5.3 billion.

Berachain’s biggest challenge will be growing in a highly competitive market dominated by blockchains such as Ethereum, Solana, Base and Tron. It will also compete with Injective, the DeFi-focused network backed by Mark Cuban, Binance, and Pantera.