gBERA Token

At the heart of the system lies the gBera token, a rebasing ERC-20 token designed to represent a share of the underlying assets managed by the gBeraAssetManager. It enables seamless integration of staking rewards and slashing events by automatically adjusting token balances. This mechanism ensures that token holders benefit from rewards without manual claims or adjustments, while also reflecting any penalties or slashing events proportionally.

The gBera token serves as the primary interface for users, managing deposits and withdrawals while implementing the ERC-20 standard with necessary modifications to accommodate rebasing.

Building on this, the gBera token talks directly with the underlying asset management contract: deposits into the system are handled via a minting process, where users send $BERA directly to the contract, automatically receiving an equivalent value in gBera tokens.

Withdrawals, on the other hand, are governed by a queue system. This ensures orderly processing of requests, no bank runs, balancing UX with the liquidity constraints of a distributed validator staking protocol (withdrawals often require to shut down a node and remove BERA from the consensus layer). Users initiate withdrawals by transferring gBera tokens to the withdrawal queue, effectively "burning" tokens and ossifying their claim on the underlying assets.