BEX (Berachain Exchange) is Berachain’s exchange product, historically documented as an automated market maker built from Balancer V2 components. Berachain now labels its BEX user documentation as deprecated, so old descriptions of fees, reward eligibility, and available pools should not be treated as current operating details.
What BEX Refers To
BEX is the name used for Berachain’s exchange. Berachain’s current documentation source map identifies its legacy implementation as Balancer V2-derived. At a high level, an automated market maker executes trades against smart-contract liquidity pools rather than a central limit order book. BEX is distinct from independent exchanges deployed on Berachain, including Kodiak.
Proof of Liquidity and the BEX Legacy
Berachain’s Proof of Liquidity system has used approved reward vaults to direct network incentives toward applications. Older BEX materials connected certain pools with this system. Reward eligibility is specific to a vault and can change; do not assume any BEX pool currently earns BGT or that old BEX documentation describes today’s routes, fees, or contract state.
Exploit History and Documentation Status
In November 2025, Berachain paused the network while responding to the broader Balancer V2 exploit, which affected BEX-related pools. Berachain’s current documentation repository marks BEX user documentation as deprecated. That is a warning that old how-to material may be stale; it does not by itself prove every deployed pool is shut down. Check the current official interface, the specific pool, and current Berachain notices before interacting.
Risks and What to Verify
- Contract and incident risk: BEX’s Balancer V2-derived history makes the relevant contracts and any security response important to verify.
- Liquidity risk: A pool may have shallow liquidity, wide price impact, or little activity; a token pair being listed does not guarantee an easy exit.
- Reward risk: Past BGT or other incentives do not establish that a pool remains approved or is earning rewards today.
- Market risk: Providing liquidity can expose users to impermanent loss and token-price changes.
Social Media Sentiment
A November 2025 BeraHub proposal from Infrared Finance said that, after the Balancer exploit, the team could not continue with BEX for the proposed liquidity initiative and would support liquidity through Kodiak instead. This is one project’s public response, not a survey of BEX users or proof that all BEX pools stopped operating. Read the specific BeraHub discussion.
Last updated: 2026-10
Related Terms
See Also
- What Is MEV? How Transaction Ordering Shapes Ethereum
- Why DAO Governance Votes Often Fall Short
- Does Ethereum TPS Include Layer 2 Transactions?
- Exchange crypto with ChangeNOW
Sources
- Berachain Documentation Source Map — Identifies BEX as deprecated and describes its Balancer V2-derived implementation lineage.
- Berachain Docs Repository README — Lists the BEX user documentation as deprecated and links the official documentation resources.
- Bitget News coverage linked from Berachain’s homepage — Describes the temporary network halt and recovery response after the Balancer V2 incident.
- Infrared Finance’s BeraHub proposal — Records one project proposer’s November 2025 decision to shift a liquidity initiative away from BEX after the exploit.