Honey

Honey is the native dollar of Berachain, the proof-of-liquidity chain that launched to heavy fanfare in 2025. Unlike crypto dollars minted against volatile collateral, HONEY is fully backed by a basket of other stablecoins, USDC, PayPal's pyUSD, USDT0, and more recently Ethena's USDe, deposited into vaults through Berachain's official app, where users mint and redeem at parity one-for-one. That keeps it close to a dollar without over-collateralization, while an automated safeguard called Basket Mode activates if any backing coin loses its peg, adjusting minting and redemption to protect the rest. A holder's claim is onchain and permissionless, settled by the protocol rather than a company. Governed by the Berachain Foundation with the interface run by its operating company, HONEY functions as the chain's base settlement asset, woven into its lending and liquidity markets rather than circulating widely elsewhere.