What is Bitlayer (BTR)?
Bitlayer is a second-layer protocol built on BitVM technology, aiming to elevate Bitcoin's security to a programmable and scalable level (decentralized finance, decentralized applications), and is compatible with the Ethereum Virtual Machine (EVM). It acts as a security bridge, enabling smart contracts and asset transfers between Bitcoin and other APIs without losing Bitcoin's inherent security. The BTR token is the ecosystem token, used for governance and rewards, and to drive platform growth.
1. Transforming Bitcoin into a scalable and widely used decentralized finance platform.
Bitlayer enables the execution of complex and smart decentralized finance applications on the Bitcoin network while maintaining its security and decentralized foundation, supported by its compatibility with the Ethereum Virtual Machine (EVM).
2. Advanced and robust secondary technologies (proof of stake, aggregation, bridges, BitVM bridge).
The first phase launched an EVM-compatible proof of stake network, and later established a Bitcoin aggregation architecture through BitVM, with reliable bridges supporting decentralized asset transfers.
3. BTR, a multi-use token within the system with increasing incentives.
BTR is used for governance, collection, and voting on transactions and modifications within the platform. Additionally, the 'fee conversion' feature allows the community to activate a portion of the protocol's revenues to allocate for rewards or token buybacks.
4. Huge financial support and extensive partnerships that affirm trust.
The project raised over $25 million in funding through seed and Series A funding rounds, with participation from major institutions such as Polychain Capital, Framework Ventures, Franklin Templeton, OKX Ventures, and others.
5. Intensive ecosystem activity with strong rewards for developers and users.
The platform launched a series of airdrop distributions worth up to $20 million, as part of decentralized application ranking competitions that reward active projects in the ecosystem. It also started providing motivational messages to developers via Bitlayer Gems, which are converted to BTR.