News Report Technology
July 11, 2024

Bitlayer Unveils Gems Airdrop Eligibility Check For Ready Player I Leaderboard Competition Participants, Gears Up To Launch Gem Collection Webpage 

In Brief

Bitlayer rolled out a webpage for Bitlayer Gems airdrop eligibility check, after concluding calculations for distributing contest rewards.

Bitlayer Unveils Gems Airdrop Eligibility Check For Ready Player I Leaderboard Competition Participants, Gears Up To Launch Gem Collection Webpage 

Bitcoin Layer 2 network Bitlayer (BTR) announced the roll out of a webpage to check eligibility for the Bitlayer Gems airdrop, following the finalization of calculations for distributing Bitlayer Gems from Leaderboard Competition Epoch 1.

Individuals are encouraged to visit the Bitlayer website to check their eligibility by connecting wallets and clicking on the “check eligibility” button to view the results. Currently, nearly 40,000 valid addresses are eligible to claim Bitlayer Gems airdrop, determined by the participation, contributions to project TVL (Total Value Locked), and the number of transactions.

The forthcoming official Gem collection webpage will allow participants to convert Gem rewards into BTR tokens proportionally.

The Ready Player I Leaderboard Competition represents a component of Bitlayer’s $50 million token builder program known as Ready Player One. Launched in May as the first decentralized application (dApp) leaderboard contest, it aims to reward $20 million worth of tokens to projects on Bitlayer mainnet in accordance with their impact on the ecosystem, subsequently allowing them to redistribute all the received rewards to users.

Over the course of the contest, engagement on the blockchain within the application allowed participants to generate Bitlayer Gems for the project, which received more Gems as user interactions increased.

Bitlayer Partners With Lorenzo Protocol And Deploys BitSmiley’s Alphanet On Its Mainnet

Bitlayer functions as a Layer 2 protocol based on BitVM, guaranteeing security comparable to Bitcoin and Turing completeness. It focuses on enabling trustless asset entry and exit from Layer 1, facilitating state transitions through a Turing-complete Layer 2 virtual machine, and validating Layer 2 state transitions’ accuracy through Layer 1. According to information from the project’s webpage, Bitlayer’s total value locked (TVL) currently amounts to $464 million.

Recently, Bitlayer has formed a partnership with the Bitcoin liquid restaking protocol Lorenzo Protocol, aiming to foster growth and engagement within their respective ecosystems. Additionally, Bitlayer has deployed the Bitcoin stablecoin project bitSmiley’s Alphanet onto its mainnet.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

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.

More articles
Alisa Davidson
Alisa Davidson

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.

Hot Stories
Join Our Newsletter.
Latest News

From Ripple to The Big Green DAO: How Cryptocurrency Projects Contribute to Charity

Let's explore initiatives harnessing the potential of digital currencies for charitable causes.

Know More

AlphaFold 3, Med-Gemini, and others: The Way AI Transforms Healthcare in 2024

AI manifests in various ways in healthcare, from uncovering new genetic correlations to empowering robotic surgical systems ...

Know More
Join Our Innovative Tech Community
Read More
Read more
The Great Crypto Leap: How Ethereum ETFs Are Paving a Rocky Road for Solana and Beyond
Opinion Business Markets Software Technology
The Great Crypto Leap: How Ethereum ETFs Are Paving a Rocky Road for Solana and Beyond
July 22, 2024
zkLink Announces Launch Of ZKL On Major Crypto Exchanges, Opens Claiming Window For Novadrop
Markets News Report Technology
zkLink Announces Launch Of ZKL On Major Crypto Exchanges, Opens Claiming Window For Novadrop
July 22, 2024
Bitfinex Alpha Analysis Highlights Bullish Signals Supporting Bitcoin’s Upward Momentum
Markets News Report Technology
Bitfinex Alpha Analysis Highlights Bullish Signals Supporting Bitcoin’s Upward Momentum
July 22, 2024
Wall Street Meets Blockchain: Backed’s Tokenized Stocks Change Investing in Tech Giants Microsoft, Tesla, and GameStop
Opinion Business Markets Software Technology
Wall Street Meets Blockchain: Backed’s Tokenized Stocks Change Investing in Tech Giants Microsoft, Tesla, and GameStop
July 22, 2024