HONEY, issued by the Berachain Protocol smart contracts under the governance of $BGT tokenholders, is a multi-collateral crypto-collateralized stablecoin soft-pegged to the U.S. dollar (USD) and fully collateralized by a basket of whitelisted USD-pegged stablecoins [S1][S2].

Holders receive a price-stable token soft-pegged 1:1 to the U.S. dollar (USD), backed by a basket of whitelisted stablecoins comprising USDC, BYUSD, USDT0, and USDe [S1]. HONEY does not accrue native yield, rebase, or pass through dividends or coupons to holders [S1][S3]. The protocol charges a per-asset mint and redeem fee, with USDC and USDe redemptions at 0.05% and USDT0 and byUSD mints at 0.1%, plus network gas paid in $BERA; these rates are configurable by $BGT governance [S1][S3][S2].

HONEY is issued by permissionless smart contracts, the HoneyFactory and per-asset collateral vaults, rather than by a single named corporate entity [S1]. The economic claim is a redemption right against the onchain collateral basket held in the vault contracts, redeemable for the underlying collateral assets, not a claim against a corporate balance sheet [S1]. The mint and redeem mechanism is permissionless and onchain without contract-level eligibility gating; Berachain website terms separately require that users are not Restricted, Sanctioned, or Blocked Persons [S1]. Collateral is segregated onchain in dedicated per-asset vaults, with the HoneyFactory custodying the corresponding vault shares [S1].

HONEY is an ERC-20 token with EIP-2612 permit and EIP-3009 transferWithAuthorization extensions, deployed natively on Berachain mainnet and the Bepolia testnet [S1][S4]. Users mint by depositing whitelisted collateral through the HoneyFactory and redeem by burning HONEY for collateral; under Basket Mode a proportional share of all collateral is returned [S1]. Settlement is onchain and atomic per transaction [S1].

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://docs.berachain.com/learn/pol/tokens/honey" },
    { id: "S2", url: "https://docs.berachain.com/learn/governance/" },
    { id: "S3", url: "https://docs.berachain.com/general/help/faqs" },
    { id: "S4", url: "https://docs.berachain.com/developers/contracts/honey-token" },
  ]}
/>


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Berachain

Berachain Honey (HONEY) is a U.S. dollar stablecoin issued by Berachain.

Retail investors, professional investors, accredited investors, qualified investors, qualified purchasers, and institutions can mint and redeem directly with Berachain in USDC, BYUSD, USDT0, and USDE, and holders have a contractual right to redeem at par.

HONEY has been issued on Berachain as an ERC-20 token since January 2025.

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