Examples of #Bitlayer in Action
Example 2: Governance Voting
@BitlayerLabs community members can influence platform decisions. For instance, if the network proposes a 20% reduction in transaction fees, Ravi, who holds 5,000 BTR tokens, can cast his vote. When the majority of token holders approve, the proposal is implemented. In this case, BTR functions as a voting instrument, giving holders a direct voice in governance.
Example 3: Staking for Rewards
Maya owns 10,000 BTR tokens. Instead of leaving them idle, she stakes them within the Bitlayer network. By staking, she contributes to network security and, in return, earns additional BTR tokens as monthly rewards.
Example 4: Everyday Utility
Alex wants to execute a smart contract or send data on Bitlayer. The network charges a small transaction fee in BTR, similar to paying gas fees on Ethereum. This illustrates BTR’s role as the functional currency of the ecosystem.
Real-World Analogy
Think of Bitlayer as a country and BTR as its official currency:
You earn it by contributing to the economy (building apps, attracting users, providing services).
You spend it to access services within the ecosystem (transaction fees, premium features).
You use it to participate in governance, shaping the network’s future.
