Recently, one of the hottest topics in the Square is the deep collaboration between @BitlayerLabs, this Bitcoin Layer 2 project, and Binance Wallet. Bitlayer claims to be the first Bitcoin Layer 2 solution based on BitVM, simply put, it has built a 'highway' on the Bitcoin mainnet, allowing DeFi, NFTs, and even games to run without sacrificing Bitcoin's security. It supports trustless BTC bridging, executes quickly, and achieves Bitcoin-level protection. The project is backed by big players like Polychain Capital and Framework Ventures, having already gained some fame in the circle. And Binance Wallet? Everyone knows it, this is Binance's non-custodial wallet, emphasizing Keyless design, allowing users to manage assets securely without remembering mnemonic phrases. Recently, it introduced the Alpha Points system to encourage users to participate in various tasks to earn points, and this collaboration is based on that foundation.
Booster Campaign, a series of multi-phase activities, started at the end of July and has continued to mid-August. The first phase began on July 24, requiring users to have at least 61 Binance Alpha Points to share in the 5.7 million $BTR (Bitlayer's native token). Tasks include some social interactions, such as holding a small amount of Bitlayer BTC or minting a commemorative SBT (Soulbound Token). These SBTs also connect with ecosystems like BNB Chain, Sui, Avalanche, making it feel like weaving a large net to attract multi-chain users. The second phase continued from July 31 to August 14, with the reward pool expanded to 7.5 million $BTR, introducing tasks for minting YBTC.B (a Bitcoin derivative asset) and exchanging tokens on Bitzap. A special phase launched on August 11, focusing on Create2Earn and Lucky Helmet NFTs: users creating content on Binance Square and ranking in the top 100 on the Bitlayer leaderboard can share 100K $BTR; or holding the Lucky Helmet NFT and verifying in the Binance Keyless Wallet, the first 400 people share 800K $BTR. The latest is the third phase, from August 15 to 29, with rewards up to 5.15 million $BTR, mainly revolving around deposits and NFT holdings in the Plume DeFi Vault, with tiered reward pools for different deposit amounts and additional yields.
Why is this collaboration so appealing? From the feedback of those Crypto bloggers on Twitter, everyone generally feels that it's activating idle BTC. For example, some bloggers mentioned that Bitcoin is like a 'fortress', secure but hard to open, and Bitlayer is that key, bridging to the DeFi and NFT realms. I agree, but on a deeper level, it’s not just about giving out rewards. It lowers the entry barrier—using Binance Wallet's Keyless feature, newcomers don’t have to worry about losing private keys to engage in Bitcoin DeFi. Imagine, your held BTC is no longer just sitting idle but can be directly deposited into a Vault to earn yield or participate in raffles through NFTs. This is real benefit for retail investors and also stimulates the demand for $BTR. On an industry level, this drives innovation in BTCFi. Previously, the Bitcoin ecosystem was always lagging behind Ethereum, but now Bitlayer offers full EVM compatibility, meaning developers can easily port applications. Combined with Binance's traffic, this could accelerate Bitcoin's shift from 'store of value' to 'active asset'. Some bloggers also pointed out that similar collaborations like Momentum and Bitlayer have been trialed on the Sui network, proving the enormous potential of cross-chain BTC.
Not everything is perfect; the activity threshold is set at 61 Alpha Points, which may exclude some newcomers. Additionally, $BTR is still in the Pre-TGE (pre-issue) phase, with significant price fluctuations, so users need to be cautious about risks. There are voices on Twitter expressing concern that short-term rewards may lead to an influx of 'farmers', impacting the long-term ecosystem. However, in the long run, this collaboration acts as a catalyst, attracting more funds and developers into the space. Binance Square's CreatorPad chose Bitlayer for its first Pre-TGE Booster, indicating Binance's bet on the future of Bitcoin L2.
Make BTC more accessible and inject new vitality into DeFi. If you haven't participated yet, why not check out the Discover section of Binance Wallet? Who knows, the next big opportunity might be hidden in these activities!
