Berachain Co-founder: HONEY is fully backed by Paypal USD, and will simplify the process in the future

ChainCatcher message, Berachain co-founder responded to the previous concerns about "HONEY being unable to redeem for USDC for a long time" by stating that the collateral for HONEY is 100%. Currently, the collateral is mainly BYUSD (bridged Paypal USD). If users want to exchange, they can choose to bridge to Ethereum and swap in the Curve pool, or directly send to Coinbase, OKX, Bybit, Crypto.com, or Kraken for cashing out.

In the future, the team will strive to simplify this process on Berachain, but before that, "we will focus on proactive communication. If anyone needs assistance, please feel free to contact me or our team via private message."