Bitlayer Leadership Competition Epoch 1 Ended Successfully
25 Jun 2024
On June 25th, Bitlayer’s Ready Player I Leaderboard Competition Epoch 1 came to a successful close. After extensive screening and competition, 68 qualified ecological project teams successfully participated in this event, contributing over $500 million in TVL and facilitating over 1 million active transactions on Bitlayer.
Bitlayer will now officially begin verifying the computation of Bitlayer gems issued and will conduct a thorough review with the winning teams before finalizing the distribution of rewards. This process aims to motivate these projects to continue building and creating greater value within the Bitlayer ecosystem in the future.
The key information regarding the Bitlayer gems distribution is as follows:
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$20M incentives distribution: The prize pool for Leaderboard Competition Epoch 1 is worth $20 million, which will be distributed based on the proportion of Bitlayer gems obtained by each project to the total amount of Bitlayer gems issued in this epoch.
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Gems calculation process for projects: Bitlayer will complete the Bitlayer gems check computation with participating projects, based on core indicators such as project TVL, number of effective transactions and effective users, and leaderboard popularity during the competition.
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Gems allocation result publicity:The number of Bitlayer gems obtained by each project in this competition will be publicly displayed on the Bitlayer official website within two weeks after the check computation is completed, supporting project and user inquiries. Note: Please follow Bitlayer’s subsequent announcements for the query entry.
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Gems distribution for users:As users’ active on-chain interactions help projects stand out in the competition, the project team promises to distribute all the Bitlayer gems obtained in the competition to users who participate in these interactions. Gems holders are eligible to share $20M in proportion to their holdings. Bitlayer will assist the project team in formulating airdrop rules for active users and will allocate the rewards to eligible users.
Please contact us through our official channel for any questions about this Ready Player I Leaderboard Competition.
The official contact email for the Ready Player I leaderboard competition is: [email protected]
We are glad to have you join this exciting journey and continue to build with us!
About Bitlayer
Bitlayer is the first Bitcoin Layer 2 solution based on the BitVM paradigm. Bitlayer’s core objective is to address the trade-off between security (trustlessness) and Turing completeness in BTC layer 2 through cryptographic innovations and blockchain protocol engineering.
Bitlayer is committed to becoming the computation layer for Bitcoin, aiming to introduce ultra-scalability to Bitcoin while inheriting its security, providing users with a high-throughput, low-cost transaction experience.
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