In the depths of the 2022 bear market, Hack VC led the Series A of @berachain. What can we say, we liked the chain with a 🐻on it. Since then, we've doubled down and become one of the largest VC investors in Berachain + the ecosystem. With the Q5 launch complete, we wanted to share our thesis on why we led Berachain's Series A, and why we are still so excited now. Our Fat Bera Thesis 🧵👇

Today we live in a world with 100+ live Web3 execution environments, coming in all sorts of programming languages, TPS speeds, block sizes, and stated functionalities. As open-source software investors, we look for defensibility in protocol design - something typically difficult to achieve when all code is transparent for the public to see and use.

While many blockchains focus exclusively on maximizing throughput (e.g., Solana) or maximizing security (e.g., Bitcoin or Ethereum), Berachain is designed to reward active capital in the ecosystem. With the Proof-of-Liquidity mechanism maximizing rewards for capital provisioned via both liquidity (DeFi) and security (consensus) based fees, Berachain will likely be the most rewarding home for capital on-chain.

An influx of capital for Berachain means both increased network security and DeFi liquidity, creating a positive flywheel that we expect will differentiate Berachain and result in one of the most liquid on-chain environments in Web3. Berachain hosts an impressive 180 projects - the builders get it too.