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What Is Bitlayer (BTR)? A Guide to the Next-Generation Bitcoin Layer-2 Solution
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As Bitcoin has established itself as the most secure and decentralized blockchain network, its limitations in scalability and programmability have become increasingly apparent. While the Bitcoin mainnet sets the industry benchmark for security and decentralization, this strength comes at the expense of transaction throughput and cost efficiency, leading to slow confirmation times and high fees. Bitcoin does not natively support smart contracts, making it difficult to accommodate the growing demand for decentralized applications. Furthermore, the lack of a native, trustless cross-chain bridge with other blockchains limits the expansion of the Bitcoin ecosystem.
Layer-2 solutions have the potential to address Bitcoin's throughput and programmability limits by building on its security model while adding decentralized BTC bridging, Turing-complete smart contracts, and far higher network throughput. Bitlayer was developed with these goals in mind: it removes Bitcoin's technical constraints without compromising decentralization or security. As a purpose-built scaling and smart-contract layer, Bitlayer unlocks new use cases and growth potential across the Bitcoin ecosystem.
1. What Is Bitlayer?
Bitlayer is the first Bitcoin Layer-2 built on BitVM that preserves Bitcoin-level security while serving as its computation layer. It introduces scalability to the Bitcoin network without compromising security, delivering high-throughput, low-cost transactions.
Built on a Proof-of-Stake (PoS) consensus mechanism, Bitlayer is EVM-compatible, allowing developers to deploy and run a wide range of decentralized applications (dApps) such as DeFi, NFTs, and GameFi, greatly enriching the Bitcoin ecosystem. Its design leverages Bitcoin as the foundational security layer, enhancing throughput, lowering transaction costs, and improving usability through its Layer-2 architecture.
2. What is the BTR Coin? Bitlayer Token Price
BTR is the native token of the Bitlayer ecosystem, used primarily for protocol incentives and governance. The total supply is capped at 1 billion BTR. Currently, the price of BTR is $0.00.
2.1 BTR Token Functions
- Ecosystem Incentives: BTR is used to reward active participants within the Bitlayer ecosystem, incentivizing developers, users, and partners to drive ecosystem growth.
- Governance: BTR holders can participate in the governance of the Bitlayer ecosystem, including submitting and voting on proposals, adjusting protocol parameters, and promoting decentralized community governance.
2.2 BTR Token Tracker: BTR Scan and Contract Address
- Ethereum: Not yet announced as of the time of writing.
2.3 BTR Price Outlook
The price of BTR will be influenced by multiple factors, including market supply and demand, overall crypto market trends, the growth of the Bitlayer ecosystem, strategic partnerships, and real-world use cases. As an emerging Bitcoin scaling protocol, Bitlayer's technological innovation and ecosystem expansion could provide fundamental support for BTR's value. However, crypto assets are highly volatile, and future price movements are difficult to predict with certainty. Investors should closely monitor Bitlayer's technical progress, ecosystem development, and broader industry trends, and reference data from mainstream platforms such as MEXC to conduct rational risk assessments, avoiding speculative or herd-driven behavior.
3. Bitlayer Funding: Fundraising History
Aside from undisclosed internal funding, Bitlayer has completed three public financing rounds: Seed, Series A, and Series A+.
On March 27, 2024, Bitlayer announced the completion of a $5 million Seed round co-led by Framework Ventures and ABCDE. Other participating investors included StarkWare, OKX Ventures, Alliance DAO, UTXO Management, Asymmetric Capital, Kenetic Capital, Pivot Global, Web3Port, Mindfulness Capital, C6E Capital, PAKA, Comma3 Capital, Kronos Ventures, and dozens of other institutions, along with prominent Bitcoin OGs and Web3 entrepreneurs and angel investors such as Dan Held, Messari CEO Ryan Selkis, and Messari co-founder Dan McArdle.
On July 23, 2024, Bitlayer completed an $11 million Series A round at a $300 million valuation. The round was co-led by top institutions Franklin Templeton and ABCDE Capital, with participation from Stake Capital Group, WAGMI Ventures, Skyland Ventures, Flow Traders, GSR Ventures, FalconX, Metalpha, 280 Capital, Presto Labs, and Caladan, as well as notable individuals such as BRC-20 creator DOMO and Brian Kang, co-founder of FactBlock and Korea Blockchain Week (KBW).
On October 8, 2024, Bitlayer completed a $9 million Series A+ round at the same $300 million valuation. This round was led by Polychain Capital, with Franklin Templeton as co-lead, and participation from SCB Limited, Selini Capital, G-20.Group, and other investors.
Both Bitlayer's Series A and Series A+ rounds used a Simple Agreement for Future Equity (SAFE) structure, accompanied by token warrants, covering both equity valuation and fully diluted token valuation. Following the latest round, Bitlayer's total funding has reached $25 million.
4. Potential Bitlayer Airdrop Opportunities
In its early stages, Bitlayer conducted several rounds of "Genesis Mining Festival" events and publicly introduced mechanisms related to gem and point airdrops, as well as token incentive programs for early users. Users who wish to qualify for BTR airdrops can actively participate in Bitlayer activities, whether through marketing campaigns or on-chain interactions, to accumulate Bitlayer points, and may even receive direct BTR token airdrops through certain events.
Once you log in to the Bitlayer website and connect your wallet in the Racer Center, you can view the number of Bitlayer gems you have received through airdrops, check your accumulated points from past interactions, and claim honorary badges earned from previous Bitlayer activities.
It's important to note:
1) Bitlayer has yet to release its tokenomics, and the exchange rate for gems, points, and BTR tokens have not been announced. Users should closely follow official announcements for updates.
2) Currently, the threshold for earning points is very low, and participating with multiple accounts may involve sybil risks.
Disclaimer: This material does not provide advice on investment, taxation, legal, financial, accounting, consulting, or any other related services, nor does it recommend the purchase, sale, or holding of any assets. MEXC Learn only provides informational references and does not constitute any investment advice. Please ensure that you fully understand the risks involved and invest cautiously. Any investment decisions made by users are unrelated to this platform.