HONEY on Berachain is currently unable to be redeemed for USDC, possibly due to the Treasury being depleted of USDC.

BlockBeats News, May 19th, according to a message from the founder of the Benmo community Super Jun, it has been more than 50 hours since HONEY on Berachain has been unable to be redeemed for USDC.

Verified by BlockBeats, the current official redemption page shows "USDC.e is currently exhausted. Please switch to BYUSD."

Currently, HONEY has not shown any significant signs of anchor drift. The official redemption page displays that 10,000 HONEY can be redeemed for 9,995 BYUSD. The market value of HONEY is currently reported to be $1 billion.