Dashboard · VantagePlanned

Berachain Proof of Liquidity: BGT Emissions, Vaults and Incentives

Where do Berachain's BGT emissions go, and what do protocols pay validators for them?

How Berachain pays for liquidity: BGT emitted and the vaults it goes to, incentives paid to validators and BGT burned for BERA.

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Blueprint

What the dashboard will show.

The dashboard as it will open in Vantage. Each figure is named here and arrives with its receipt; until its data is published, its place stays empty.

Emissions

BGT emitted, where it went, the incentives paid for it and BGT burned for BERA.

BGT emitted, latest day

BGT

BGT minted for the latest complete UTC day's blocks, to validators and reward vaults together.

Figuretoken_supply_dailyAwaiting data

Incentives paid, latest day

USD

Incentive tokens paid to validators from reward vaults on the latest complete day, valued at DEX prices at payment.

Figuredex_swaps_dailyAwaiting data

BGT burned for BERA

BGT

BGT redeemed for BERA one to one on the latest complete day, which burns the BGT.

Figuretoken_supply_dailyAwaiting data

Vaults receiving BGT

count

Reward vaults that received BGT emissions on the latest complete day.

Figuredefi_tvl_dailyAwaiting data

BGT by reward vault

BGT

BGT emissions each day over the selected period, split by the reward vaults that received them, with smaller vaults grouped.

Stacked barstoken_supply_dailyAwaiting data

Validators and chain

BERA staked, BGT boosts, chain activity and HONEY supply.

BERA staked

BERA

BERA staked by validators at the latest day-end block.

Figurestaking_networks_dailyAwaiting data

BGT boosting validators

BGT

BGT delegated to validators as boost at the latest day-end block.

Figuretoken_supply_dailyAwaiting data

Transactions, latest day

count

Transactions in Berachain blocks on the latest complete UTC day.

Figurechain_activity_dailyAwaiting data

HONEY supply

HONEY

HONEY totalSupply() at the latest day-end block.

Figuretoken_supply_dailyAwaiting data

Validators

Each validator's BERA stake, BGT boost, BGT emitted over 30 days, the vaults it directs most BGT to and the incentives it earned.

Tablestaking_networks_dailyAwaiting data

Period
Last 30 days, 90 days or since mainnet
About

What it answers, and for whom.

Berachain is an EVM layer 1 whose block rewards are designed to pay for liquidity. Validators stake BERA to make blocks, and each block emits BGT, a token that cannot be transferred, which validators direct to reward vaults where users deposit liquidity to earn it. This dashboard follows that loop: BGT emitted and where it went, the incentives protocols paid validators for it, the BGT burned for BERA and the stake and boost behind each validator.

Proof of liquidity can only be judged if its emissions and incentives are visible, so each is read from the contracts that pay it rather than from announcements. Chain activity and HONEY supply sit alongside, and the November 2025 halt for an emergency hard fork is marked on every series. Every figure is pinned to the block it was read at, with a receipt.

Method

How it will be measured.

Every figure will be read at a block, kept with its source and its exact read, and open a receipt anyone can re-check.

How receipts work →
  1. BGT emissions are read from the block reward contracts: the BGT minted for each block, the part kept by the producing validator and the part distributed to reward vaults under that validator's allocation.
  2. Incentives are the tokens protocols add to their reward vaults and pay out to the validators that direct BGT to them, valued at DEX prices on Berachain at the payment block.
  3. Boosts and redemptions come from the BGT contract: BGT delegated to each validator, and BGT burned for BERA at the fixed one-to-one rate.
  4. Activity and HONEY supply are read from Berachain blocks and the HONEY contract at the day's last block, and every figure carries a receipt with the block number and hash.

The data it needs

Read from chain state and history

  • token_supply_dailyTo buildToken supply by dayTotal supply of each registry token on each chain at day end: wrapped BTC, liquid staking tokens, tokenized assets and other tracked tokens.
  • defi_tvl_dailyTo buildDeFi value lockedAssets deposited in DeFi protocols per protocol, chain and asset at day end, valued with oracle prices, never double counting receipt tokens.
  • dex_swaps_dailyTo buildDEX volumeSwap counts and volume per DEX, pool and chain per day, decoded from Swap events, valued with stablecoin legs and oracle prices.
  • chain_activity_dailyTo buildChain activity by dayTransactions, active sending addresses, new addresses, contracts created and gas used on each chain per day, counted from blocks and transactions.
  • staking_networks_dailyTo buildProof-of-stake networksStaked supply, staking ratio, validators and nominal rewards per proof-of-stake network per day.
  • BlockRewardController and Distributor events: BGT minted per block, the validator's base share and its distribution to reward vaults
  • BeraChef reward allocations set by each validator
  • RewardVault events: stakes, BGT rewards paid and incentive tokens added and paid to validators
  • BGT contract events: boosts queued and activated per validator, and redemptions burning BGT for BERA
  • The beacon deposit contract and the consensus validator set, for BERA staked
  • HONEY totalSupply() at day-end blocks
Questions

Questions people ask.

What is proof of liquidity?

Berachain's way of tying network rewards to liquidity. Validators stake BERA to produce blocks, but block rewards are paid in BGT and sent mostly to reward vaults, where users who deposit liquidity earn them. Validators decide which vaults get their BGT, and protocols pay incentives to win it.

What is BGT?

Berachain's governance token. It cannot be transferred: holders earn it in reward vaults and can delegate it to validators to boost their emissions or use it to vote. It can also be burned to receive BERA one for one, which cannot be reversed. The redemptions tile shows how much is burned each day.

Why do protocols pay incentives to validators?

A validator's BGT goes where its reward allocation points. Protocols that want BGT for their own reward vaults, to attract liquidity, offer incentive tokens to the validators that direct BGT there, and validators share those incentives with the BGT holders boosting them. Since the second version of proof of liquidity, part of the incentives also goes to BERA stakers.

What happened to Berachain in November 2025?

After the Balancer v2 exploit, which also hit BEX, Berachain's DEX built on the same code, validators halted the chain on November 3, 2025 so that an emergency hard fork could recover the funds taken from it. The daily series mark the halt, so the gap is not read as a fall in activity.

What is HONEY?

Berachain's native stablecoin, minted against approved stablecoin collateral and burned when redeemed. Its supply is read from the token contract each day and shown with the chain's activity.

BGT
Berachain's non-transferable governance token, earned in reward vaults and redeemable one for one for BERA.
Reward vault
A contract where users stake a protocol's liquidity token to earn the BGT that validators direct to it.
Boost
BGT delegated to a validator, which raises the BGT that validator's blocks emit.
Reward allocation
A validator's on-chain choice of which reward vaults receive its BGT emissions, and in what shares.
BeaconKit
The consensus client Berachain is built on, which pairs CometBFT consensus with an Ethereum execution client.

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