Bitlayer Teams Up With Lorenzo, BitSmiley, And Other Ecosystem Projects To Launch Mining Gala Event With $23.24M Total Airdrop Pool
In Brief
Bitlayer launches the Mining Gala event, enabling users to earn rewards from Bitlayer and its ecosystem of dApps through airdrops.
Bitcoin Layer 2 network Bitlayer announced the upcoming launch of a two-week Mining Gala event. This event will provide users with the opportunity to earn rewards from Bitlayer and its ecosystem of decentralized applications (dApps) through airdrops.
The Mining Gala event is slated to occur from May 27th to June 10th and will be organized in collaboration with seven project partners, namely Lorenzo, BitSmiley, Avalon, Bitcow, Pell, Enzo, and Bitparty. The total value of the airdrop token incentives surpasses $23.24 million. Most projects are expected to conduct a Token Generation Event (TGE) within the next two months.
Furthermore, the seven project partners have committed to distributing 100% of the airdrop rewards acquired in the Bitlayer dApp ranking competition to users. Users can engage in various project interactions, such as providing liquidity, trading, staking, depositing and borrowing assets, and other on-chain activities, to receive additional mining rewards from both the project and Bitlayer.
Keep track of cryptocurrency distributions in our Airdrops Calendar.
Bitlayer Collaborates With Lorenzo And Launches First Stage Of Alphanet Of BitSmiley’s Alphanet On Its Mainnet
Bitlayer functions as a Layer 2 protocol founded on the BitVM paradigm, guaranteeing security equivalent to Bitcoin and Turing-completeness. It prioritizes trustless asset entry and exit from Layer 1, state transitions enabled by a Turing-complete Layer 2 virtual machine, and verification of Layer 2 state transitions’ validity by Layer 1.
The protocol brings improved scalability to the Bitcoin ecosystem, facilitating swift transaction processing along with Layer 1 verification, secure asset bridging, compatibility with the Ethereum Virtual Machine (EVM), and state transitions.
Recently, the project has forged a partnership with Lorenzo, a Bitcoin liquid restaking protocol, one of the participating projects in the Mining Gala event to boost growth and engagement within their respective ecosystems. Furthermore, Bitlayer has facilitated the launch of the first stage of Alphanet of Bitcoin stablecoin project, bitSmiley, on its mainnet, along with the introduction of the bitPoint pre-season.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
