Berachain’s co-founder, Smoki The Bera, says the developer team sold several bera tokens to enter the capitalists and are currently working towards buying back its supply.
About a month after the launch of Berachain (Bera) Mennet, co-founder Smoki The Bera appeared On the unconnected podcast to talk about the launch and supply allocation of tokens.
Smoki The Bera said that Berachain team sold a lot of tokens to enter the capitalists before their launch.
“I think if I can go back and re -prepare it again. If the team can start on ground zero. We may not be sold as much. [token] Supply to VCS, ”Smoki said in an interview clip shared on X.
Co-founder and main execution stated that a “spacious majority” of Bera tokens went back to its seed round in early 2022, as well as her series A funding round. He admitted that at that time, the team could not know how big the project would be.
On 11 February, Berachain experienced backlash after its layer 1 launch as traders complained about the project aircraft allocation, tokenomics and insider trading activity. Analysts highlighted issues about the distribution structure of tokens, especially how early investors and interiors were able to benefit from the staking mechanisms of the network.
As a result, Smokei said that his team is currently working on “non-batching parts” of Bera token supply from VCS, which is as a way to reduce the weakening of the tokens experienced by the Berachain community.
Smoki said, “We completely sell VCS a lot and our goal is to ensure that we do overtime in that light by people.”
At the press time, Bera has increased by about 15% at a price of $ 7.18 in the last 24 hours trading. In the last week, the token has reduced by about 1%. Bera’s circulating token supply is currently on 107 million tokens, meanwhile its total supply is more than 500 million tokens.
Berachain’s native token has reached a market cap of over $ 750 million and a completely thin assessment of about $ 3.5 billion. In the last 24 hours, tokens have seen a 29.7% increase in their daily trading volumes, which is $ 325 million.
Berachain launched his mennet and native token bera together on 6 February. The token experienced an explosive start in the market, which reached all the time of about $ 15 on the launch day. It has since fallen below high, its price is more than half the initial peak price.
