Bitlayers first Dapp ranking competition will be launched on May 23, and the project can distribute 100% of the airdrop

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Bitlayers first Dapp ranking competition will be launched on May 23, and the project can distribute 100% of the airdrop

Today, Bitlayer announced that the first Dapp ranking competition will be officially launched on May 23, issuing $20 million worth of token airdrops to projects deployed on the Bitlayer mainnet. All rewards will be distributed according to the Bitlayer ecosystem contribution. Projects can choose to distribute all airdrop rewards to users.

This ranking competition is part of the Bitlayer 50 million USD token developer incentive airdrop program, Ready Player One. After this competition, the remaining token rewards will be distributed through subsequent ranking competitions and the Bitlayer Most Valuable Player (MVP) program.

Dapp ranking competition time planning

There are two phases of Dapp ranking competition, the specific schedule is as follows:

  • Epoch 1: 4 weeks, May 23 – June 23

  • Epoch 2: 8 weeks, expected to be from June to August

Introduction to airdrop distribution rules

This round of Dapp ranking competition will allocate token airdrops worth $20 million to all projects deployed to the Bitlayer mainnet based on their ecological contribution.

What is Bitlayer Contribution?

The evaluation indicators of ecological contribution include TVL, number of valid transactions, number of valid users and Bitlayer popularity list performance. Bitlayer will track the above data daily and allocate corresponding Bitlayer Gems to the project parties participating in the competition.

The specific definitions of the four indicators are as follows:

  • TVL: Total valid assets locked in the Bitlayer mainnet

  • Valid transaction number: The number of valid transactions when the user calls the project Dapp contract

  • Number of valid users: The number of valid addresses that interact with the project Dapp contract on-chain

  • Bitlayer popularity list performance: the number of popularity votes accumulated by the project during the preparation period

Project owners can optimize the corresponding indicator values according to the track and product characteristics, such as increasing TVL, increasing user interaction, increasing the number of effective users, and improving the popularity list to increase Bitlayers ecological contribution and obtain more Bitlayer gems.

What determines the number of Bitlayer gems a project owner receives?

During the competition, any on-chain interaction of users in the ecological application will accumulate Bitlayer gems for the project. The more user interactions, the more gems the project will get. The corresponding rewards will be counted and distributed daily.

When will the airdrop be distributed?

Airdrops during this competition will be distributed daily in the form of Bitlayer gems, and will be exchanged for Bitlayer Token (BTR) according to the rules after TGE.

From the first day of the competition, projects can choose whether to distribute 100% of the token incentives they receive to users. If they do, the Bitlayer gems earned by the project will be automatically distributed to the interacting users after the competition ends.

In addition to Bitlayer gems, what other support can project parties get?

Bitlayer will set up three lists on its official website: TVL, number of protocol transactions, and popularity list, to provide additional exposure for outstanding and top-ranked projects. In addition, Bitlayer has set up a $2 million listing fund and $100 million in liquidity support for the project.

How do users participate in the Bitlayer ecosystem?

With the launch of the Bitlayer Dapp ranking competition, the opportunity for crypto users is that they can increase their activity by participating in Bitlayer ecosystem projects, such as staking assets, improving interactions and other on-chain operations, while increasing Bitlayer gem rewards for the project party. At the same time, there is a high probability that they will receive Bitlayer gem rewards provided by the project to users, and exchange them for Bitlayer Token (BTR) after TGE.

To participate in Bitlayer on-chain interactions, users can cross-chain BTC to Bitlayer through the official bridge. For specific tutorials, please refer to this link .

If your assets are on the Ethereum chain, you can also use the third-party bridge Meson to transfer USDT, USDC, ETH and other assets to Bitlayer. For specific tutorials, please see this link . If there is no Gas in your wallet, you can also use the official Get Gas function to quickly convert ERC 20 or TRC 20 USDT into Gas. For specific tutorials, please see this link .

About Bitlayer

Bitlayer is the first Bitcoin security equivalent Layer 2 based on BitVM. The core goal of Bitlayer is to solve the trade-off between security and Turing completeness of Bitcoin Layer 2 through cryptographic innovation and blockchain engineering implementation.

Bitlayer is committed to becoming the computing layer of Bitcoin, aiming to introduce hyper-scalability to Bitcoin while inheriting its security and providing users with a high-throughput, low-cost transaction experience.

Please follow Bitlayer updates via the following channels:

Website | Twitter | Discord | Medium | Github | Youtube

This article is sourced from the internet: Bitlayers first Dapp ranking competition will be launched on May 23, and the project can distribute 100% of the airdrop rewards to users

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