The first phase of the Bitlayer Dapp leaderboard competition will go live on May 23, and projects can distribute 100% of the airdrop rewards to users
This Dapp leaderboard competition will allocate a token airdrop worth 20 million dollars to all projects deployed on the Bitlayer mainnet based on their ecological contribution.
On May 21, Bitlayer announced that the first Dapp leaderboard competition will officially launch on May 23, distributing a token airdrop worth $20 million to projects deployed on the Bitlayer mainnet, with all rewards allocated according to Bitlayer ecosystem contributions. Project teams can choose to distribute all airdrop rewards entirely to users.
This leaderboard competition is part of Bitlayer's $50 million token developer incentive airdrop program, Ready Player One. After this competition ends, the remaining token rewards will be distributed through subsequent leaderboard competitions and the Bitlayer Most Valuable Player (MVP) program.
Dapp Leaderboard Competition Timeline
The Dapp leaderboard competition consists of two epochs, with the following schedule:
- Epoch 1: 4 weeks, expected from May 23 to June 23
- Epoch 2: 8 weeks, expected from June to August
Airdrop Distribution Rules Introduction
The current Dapp leaderboard competition will distribute a token airdrop worth $20 million to all project teams deployed on the Bitlayer mainnet based on ecosystem contributions.
What is Bitlayer Contribution?
The evaluation metrics for ecosystem contributions include TVL, effective transaction count, effective user count, and performance on the Bitlayer popularity leaderboard. Bitlayer will track the above data daily and allocate corresponding Bitlayer Gems to participating projects.
The specific definitions of the four metrics are as follows:
- TVL: Total effective assets locked on the Bitlayer mainnet
- Effective transaction count: The number of effective transactions where users call the project Dapp contract
- Effective user count: The number of effective addresses interacting with the project Dapp contract on-chain
- Bitlayer popularity leaderboard performance: The total number of popularity votes accumulated by the project during the competition period
Project teams can optimize their respective metric values based on their track and product characteristics, such as increasing TVL, enhancing user interaction, boosting effective user numbers, and improving popularity leaderboard standings to increase Bitlayer ecosystem contributions and earn more Bitlayer Gems.
What determines the number of Bitlayer Gems a project team receives?
During the competition, any on-chain interaction by users within the ecosystem applications accumulates Bitlayer Gems for the project. The more interactions users have, the more gems the project earns. Corresponding rewards are tallied and distributed daily.
When will the airdrop be distributed?
The airdrop 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 the TGE.
From the first day of the competition, projects can choose whether to distribute 100% of the obtained token incentives to users. If fully distributed, the Bitlayer Gems earned by the project will be automatically allocated to interacting users after the competition ends.
What other support can project teams receive besides Bitlayer Gems?
Bitlayer will set up three leaderboards on its official website for TVL, protocol transaction counts, and popularity leaderboard, providing additional exposure for outstanding projects ranked highly. Additionally, Bitlayer has established a $2 million listing fund and $100 million liquidity support for projects.
How can users participate in the Bitlayer ecosystem?
With the launch of the Bitlayer Dapp leaderboard competition, crypto users have the opportunity to increase their activity by participating in Bitlayer ecosystem projects, such as staking assets and enhancing interactions, which will increase Bitlayer Gem rewards for project teams while also having a high probability of receiving Bitlayer Gem rewards provided to users by the projects, which can be exchanged for Bitlayer Token (BTR) after the TGE.
To participate in on-chain interactions on Bitlayer, users can cross-chain BTC to Bitlayer via the official bridge. Detailed tutorials can be found at this link.
If your assets are on the Ethereum chain, you can also use the third-party bridge Meson to cross USDT, USDC, and ETH into Bitlayer. Detailed tutorials can be found at this link. If you don't have Gas in your wallet, you can quickly exchange ERC20 or TRC20 USDT for Gas using the official "Get Gas" feature. Detailed tutorials can be found at this link.
About Bitlayer
Bitlayer is the first Layer 2 that is a Bitcoin secure equivalent based on BitVM. The core goal of Bitlayer is to solve the trade-off problem between security and Turing completeness in Bitcoin Layer 2 through cryptographic innovation and blockchain engineering.
Bitlayer aims to become the computing layer for Bitcoin, introducing ultra-scalability while inheriting its security, providing users with a high-throughput, low-cost transaction experience.
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