Bitlayer Monthly Report - December 2024

A collection of highlights from the month in Bitlayer

Bitlayer wraps up a massive month with December highlighting an all-time high in transactions processed in a single day. Total transaction volume reached a height of 233,212 on December 15th. As the BTCFI Carnival event continues, more achievements and milestone metrics are expected to emerge within the Bitlayer ecosystem.

Let’s recap the highlights!

This Month’s Top Stories

• Bitlayer BTCFI Carnival goes live on Binance Wallet, offering $1.2M BTR in rewards for a 6-week non-stop giveaway. – December 10th, 2024

  

  Within 48 hours, over 100,000 users joined the Bitlayer BTCFI Carnival, with more than 500,000 total participants in just over two weeks! Join the BTCFI Carnival here, you won’t want to miss this.

• Bitlayer co-founder Kevin He released A Brief Report on Bitcoin’s Next Upgrade for All, covering a Bitcoin upgrade overview, why an upgrade matters, in-depth analysis of upgrades, and a future outlook. – December 1st, 2024

  Key takeaways:

  1. Pragmatic development while cautiously advancing upgrades; soft forks are preferable.

  2. Stakeholders are highly fragmented, leading to a conservative stance from the community.

  3. Discussions about upgrades must adhere to Bitcoin’s core value proposition.

  4. Scalability is just one of many focus areas for upgrades.

  5. Timing is critical—strong proposals will gain consensus more quickly.

  6. The community must explore improved governance mechanisms.

  

• The Bitlayer Mining Gala S3 event ended successfully. All treasure boxes have been sent to eligible users. Two metrics: Over 150K participants and over 2.2 million treasure boxes opened.

• Bitlayer was featured in CoinGecko’s video, “Bitcoin’s Layer 2 Explosion: New Projects You Need to Know About!”

  

Monthly On-Chain Highlights

• Total Value Locked: $688.36M (Source: DeFiLlama）
• Total Monthly Addresses: 693,582 (15.6% MoM)
• Total Transactions: 25,239,986 (32.8% MoM)
• Deployed Projects: 200+

More Updates and Events

• The Bitlayer research team submitted a fix for anissue where non-fixed point precomputation was inconsistent across different chunks.

• At the BitVM alliance meeting, an issue regarding improving the README documentation was raised. The Bitlayer team provided information about the main folders in the code repository.

• The Bitlayer research team fixed a pairing computation error in the BitVM project, which could have allowed malicious challengers to succeed in challenges if unchecked.

• Bitlayer released maintenance version v1.1.6, aiming to resolve a potential DoS attack vulnerability stemming from malicious P2P messages.

• Bitlayer announced a special bonus exclusively for Lucky Helmet NFT holders. Weekly ongoing rewards—don’t hesitate, claim your BTR reward now and enjoy your interactive journey!

  

• Bitlayer is a community-driven protocol. Most of the BTR supply will be airdropped to loyal community members. To earn BTR rewards, garner Bitlayer Points from diversified ecosystem events, such as Free’s SolvBTC.m Staking event (Bitlayer Points), RollDex’s High Roller Trading Tournament ($700,000 in BTR), and Goplus SAFU Universe Airdrop Fiesta (333,333 $BTR).

• Bitlayer partnered with Nexera to integrate Nexera’s middleware and ERC-7208 standard into Bitlayer’s Bitcoin L2 protocols, unlocking interoperability with major alt-L1 blockchains and major potential in DeFi and NFTs.

• To support Bitlayer BTCFI Carnival, our partner Meson Finance, the leading cross-chain swaps, offers 0 service fee bridging BTC to Bitlayer for users.

  

• Bitlayer co-founder Charlie Hu sat down with Domo, creator of BRC20 and Dan Held, GP of Asymmetric, to talk about the evolving world of BTCFi.

  

• Bitlayer co-founder Charlie Hu joined an exciting AMA, Bitcoin Dominance vs. Altcoin Season: Understanding the Shifts in Crypto Markets, hosted by HashKey Global.

• Bitlayer co-founder Charlie Hu joined a Portfolio Meeting hosted by OKX Ventures, sharing his insights on 2024 DeFi Review, Mainstream Finance Signals, and 2025 CeDeFi.

  

• Bitlayer Digital Marketing Director Sky Harris joined Orochi’s Twitter Space “The Bitcoin Eco: Thriving Together, Everywhere.”

• Bitlayer co-founder Charlie Hu engaged with top-tier participants in an inspiring discussion on Bitcoin and Layer 2 solutions.

• Bitlayer co-founder Kevin He joined MemeLaunch’s exclusive AMA to share his insights on AI Agents.

• Bitlayer co-founder Charlie Hu joined an exclusive fireside chat with Mia Soarez, where he shared his vision for the future of Bitcoin Layer 2.

  

• Bitlayer Director of Global Biz Dev David Rutkovsky participated in a panel discussion in Taipei Blockchain Week, sharing insights on Bitcoin Layer 2s, and how to bring more users into the Bitlayer ecosystem.

  

What’s Next?

As we step into the new year, Bitlayer has mapped out its strategic initiatives, focusing on advancing technological research and development, expanding into global markets, and fostering a vibrant community.

Bitlayer core developers are anticipating major updates on both a BitVM-based Bitcoin bridge and Bitlayer Mainnet-V2. These technology efforts are being built in parallel, with a testnet release expected in Q1. Look out for Bitlayer Docs V2 version to be ready and released soon.

Let’s BitVM and keep building!