PANews reported on August 26 that, according to Bitlayer's official announcement, the Token Generation Event (TGE) for BTR tokens is about to start. BTR is the governance token of the Bitlayer ecosystem, with a total supply fixed at 1 billion tokens, and an initial circulating supply of 261.6 million tokens (26.16% of the total). The tokens will be minted on the Bitlayer network and distributed through the Ethereum mainnet and BNB Smart Chain, achieving cross-chain compatibility.
The uses of BTR tokens include staking and node voting, on-chain governance, and fee distribution mechanisms. The token distribution plan is as follows: 40% for ecosystem incentives, 20.25% for investors and advisors, 12% for the core team, 11% for public distribution, 7.75% for node incentives, 6% for the treasury, and 3% for liquidity.
According to previous news, Binance Alpha and Binance Contracts will launch Bitlayer (BTR) on August 27.
