Let's talk about $BERA Two things. First, $BERA has climbed back to 4.4, maintaining an upward trend. This is considered a critical position. The recent price increase from last night until now is related to @SmokeyTheBera's announcement of Pol v1.1. Essentially, the price of $BERA has "reasonably" climbed back to this key position due to the influence of news. Second, Pol v1.1 is a very important proposal. It aims to address some issues Berachain faces after launching its mainnet, such as the relatively weak value capture ability of $BERA. How does it work? It essentially converts 20% of ecosystem bribes into $BERA, while the amount of $BGT incentives provided to the ecosystem remains unaffected. Berachain will add the acquired $BERA to LPs of major trading pairs like BERA-HONEY and BERA-WBTC. In the future, this 20% fee rate will become dynamic, priced based on incentive efficiency—the higher the efficiency, the lower the fee rate. This mechanism essentially transforms part of the bribes into protocol-owned liquidity (also known as PoL). This liquidity will generate fee income for Berachain and reduce the circulation of $BERA in the secondary market. These revenues will also be used to buy back $BERA. This "protocol asset accumulation + self-sustaining model" is an optimization of traditional DeFi liquidity mining. The downside is that the bribes captured by $BGT will decrease—after all, a portion will flow to the Berachain protocol. For example, the yield of iBGT from @InfraredFinance will decline, and the exchange rate of iBGT to BERA will drop. However, if $BERA appreciates, iBGT will still rise. For those operating in USD terms, this is still acceptable, but it is less favorable for investors operating in BERA/iBGT terms. Overall, I am quite satisfied with this update from Berachain. They identified previous issues and made corresponding adjustments—weakening $BGT while strengthening $BERA. As $BERA's price rises, ecosystem incentives increase, and $BGT bribes will also grow. Using $BERA's value capture ability as the driver of the ecosystem is a very correct choice.