Bitcoin Layer 2 network Bitlayer announced the upcoming launch of a two-week Mining Gala event. This event will provide users with the opportunity to earn rewards from Bitlayer and its ecosystem of decentralized applications (dApps) through airdrops.
The Mining Gala event is slated to occur from May 27th to June 10th and will be organized in collaboration with seven project partners, namely Lorenzo, BitSmiley, Avalon, Bitcow, Pell, Enzo, and Bitparty. The total value of the airdrop token incentives surpasses $23.24 million. Most projects are expected to conduct a Token Generation Event (TGE) within the next two months.
Furthermore, the seven project partners have committed to distributing 100% of the airdrop rewards acquired in the Bitlayer dApp ranking competition to users. Users can engage in various project interactions, such as providing liquidity, trading, staking, depositing and borrowing assets, and other on-chain activities, to receive additional mining rewards from both the project and Bitlayer.
Join Bitlayer Mining Gala and earn from Bitlayer and Eco Dapp Airdrops! Event: May 27th – June 10th Total Airdrop Pool: $23.24 MillionGet ready for: Exclusive SBT Medals for future Bitlayer benefits. Token airdrops from @LorenzoProtocol , @bitsmiley_labs,… pic.twitter.com/BAX0LHYZBG
— Bitlayer (@BitlayerLabs) May 23, 2024
Bitlayer Collaborates With Lorenzo And Launches First Stage Of Alphanet Of BitSmiley’s Alphanet On Its Mainnet
Bitlayer functions as a Layer 2 protocol founded on the BitVM paradigm, guaranteeing security equivalent to Bitcoin and Turing-completeness. It prioritizes trustless asset entry and exit from Layer 1, state transitions enabled by a Turing-complete Layer 2 virtual machine, and verification of Layer 2 state transitions’ validity by Layer 1.
The protocol brings improved scalability to the Bitcoin ecosystem, facilitating swift transaction processing along with Layer 1 verification, secure asset bridging, compatibility with the Ethereum Virtual Machine (EVM), and state transitions.
Recently, the project has forged a partnership with Lorenzo, a Bitcoin liquid restaking protocol, one of the participating projects in the Mining Gala event to boost growth and engagement within their respective ecosystems. Furthermore, Bitlayer has facilitated the launch of the first stage of Alphanet of Bitcoin stablecoin project, bitSmiley, on its mainnet, along with the introduction of the bitPoint pre-season.
The post Bitlayer Teams Up With Lorenzo, BitSmiley, And Other Ecosystem Projects To Launch Mining Gala Event With $23.24M Total Airdrop Pool appeared first on Metaverse Post.
