Berachain Plans Hard Fork to End BGT Emissions and Shift Incentives to WBERA

Berachain is preparing a hard fork that will replace its dual-token incentive model with one centered on its main BERA token, ending emissions of the Bera Governance Token (BGT) and moving rewards to Wrapped BERA (WBERA). According to Cointelegraph, the Berachain Foundation said in a Tuesday X post that the hard fork is set for Wednesday at 4 pm UTC and will halt BGT emissions while shifting the network’s incentive system to WBERA. After the upgrade, Berachain will distribute fixed amounts of WBERA as block rewards instead of BGT, replacing the previous structure that split functions between the transferable BERA token and the non-transferable governance token BGT. The foundation said the new approach will center rewards on sWBERA, the staked version of WBERA, describing the design as simpler and more sustainable. Berachain said annual percentage rates (APR) could triple after the upgrade, while noting yields may fluctuate during the first few days. The transition is planned in two stages: WBERA emissions began Tuesday, and Wednesday’s hard fork will stop BGT emissions. Reward vaults and liquid staking incentives tied to BGT are expected to be phased out in the days following the hard fork. Ahead of the upgrade, BERA fell 7% in the 24 hours to 8:34 am UTC, extending its decline over the past year to 88%, according to CoinMarketCap. Network activity indicators also remained muted over the same period. Berachain’s total value locked (TVL) declined by $1.79 million, or 3%, and the network ranked 37th by TVL with $56 million locked, according to DefiLlama. Over the past 24 hours, Berachain generated $41 in chain fees and $3,359 in application revenue, while distributing $14,816 in token incentives.