Wu said that according to the official website interface of HONEY, due to the depletion of USDC.e on Berachain, it is currently not possible to redeem the stablecoin HONEY as USDC.e and only supports BYUSD. Berachain, a co-founder of Smokey, stated that HONEY is fully collateralized and currently the main collateral is BYUSD (bridged Pyapal USD). HONEY can be redeemed for BYUSD and then cross chain to Ethereum using Curve