When Bitcoin breaks the $120,000 historical high, global attention once again focuses on its 'digital gold' properties. However, the emergence of Bitlayer allows us to see the true potential of Bitcoin as a 'programmable asset.'
The revolution of Bitlayer lies in building a Bitcoin-native DeFi infrastructure. Through the BitVM bridge, users can mint BTC into YBTC at a 1:1 ratio, seamlessly connecting to DeFi protocols in the Ethereum ecosystem. This design solves the trust issues of traditional cross-chain bridges—when a certain operator attempts to act maliciously, other nodes can trigger on-chain verification through a 'challenge mechanism' to ensure asset security. Currently, YBTC is circulating on five major public chains such as Base and Starknet, with an average daily cross-chain transaction volume exceeding $15 million.
Three disruptive innovations in technical architecture
1. Bitcoin security-equivalent Rollup:
Transaction finality is verified by the Bitcoin main chain; even if Layer 2 fails, user assets can still be directly extracted from the Bitcoin chain through SPV light nodes, ensuring security far beyond sidechain solutions.
2. EVM-compatible development environment:
Developers can directly reuse Ethereum toolchains, migrating Uniswap V3 contracts to Bitlayer in just 2 hours, significantly lowering technical barriers.
3. Miner economic model alignment:
50% of Layer 2 transaction fees are distributed to Bitcoin miners, incentivizing them to support non-standard transactions, creating a positive feedback loop.
Four major application scenarios of ecological explosion
1. Cross-chain asset management:
Users can cross-chain BTC to the Sui chain to participate in the chain gaming economy or access real-world asset (RWA) lending through Plume Network, with annualized returns of up to 18%.
2. NFTs and the Metaverse:
Projects like Bitmap.land issue virtual land NFTs based on Bitlayer, with underlying data permanently recorded in Bitcoin transactions through the OP_RETURN opcode, achieving true asset immutability.
3. Institutional-grade financial products:
Asset management giants like 21Shares plan to issue Bitcoin ETFs through Bitlayer, achieving dynamic asset allocation with on-chain real-time data.
4. Developer-friendly tools:
Provides an RtEVM execution environment, supporting real-time smart contract debugging, attracting over 200 development teams to deploy applications.
Incentive mechanisms for community participation and value capture
Bitlayer's economic model cleverly balances short-term incentives with long-term value:
• Liquidity mining: Providing YBTC/USDT liquidity on Bitlayer DEX can earn both BTR and trading fee rewards;
• Governance voting: Stake BTR to participate in protocol parameter adjustments, such as gas fee distribution ratios, validator reward mechanisms, etc.;
• Ecological contribution rewards: Accumulate points through Galxe tasks (such as testnet interactions, content creation) that can be exchanged for BTR airdrops.
Currently, Bitlayer is attracting users to participate through the 'BTCFI Carnival' event on Binance Wallet (total rewards of $1.2 million). During the event, users can share the BTR prize pool by completing tasks such as signing in and minting SBT. Users who sign in for 42 consecutive days can earn up to 43.2 BTR. This 'gamified' design is accelerating the migration of Bitcoin users to Web3-native scenarios.
