Bitcoin L2 Bitlayer Unveils Booster Grants: Up to $1M in Rewards for Each Project

SINGAPORE, Sept. 12, 2024 /PRNewswire/ -- On Sep. 12th, Bitlayer officially launched the Booster Program as part of the Ready Player One developer airdrop event. Starting on September 12th, 2024, the Bitlayer Foundation will select and announce winning projects monthly, ensuring a fair and transparent process, and allocate incentives worth up to $1 million for each project.

Whether you're a new builder with fresh ideas or an experienced developer, your projects that pass the final selection will receive grants between $10,000 and $300,000. Additional bonuses include honorary rewards of $3,000 to $5,000 and access to a $1,000,000 prize pool for running user events to help build the Bitlayer ecosystem. Rewards will be exchanged for BTR tokens post-TGE.

Details as follows, for new builders,

• Grants: $10,000 - $30,000
• Bonus: Honorary titles & rewards of $3,000 - $5,000

For experienced builders,

• Grants: $30,000 - $300,000
• Bonus: $1 million exclusive event prize pool

In the latest announcement, Bitlayer has revealed important information regarding the developer acceleration program, including registration, preliminary selection, final selection, subsequent support, and reward redemption.

1. Registration:

How to register: you must apply through the Bitlayer official website: https://www.bitlayer.org/airdrop/ready-player-one 

Registration period:

• Projects registered before the 30th of each month will be evaluated in the current month;
• Projects registered after the 30th will be assessed in the following month;
• Ensure registration is completed within the specified time to proceed to evaluation.

Information required:

• Basic information;
• Financing progress;
• Core team introduction;
• Pitch deck & roadmap;
• Product test link or demo video (if available).

2. Primary election:

The Bitlayer review committee will conduct a rolling review based on the submitted information.  Further reviews may include technical checks, market research, and product analysis.

Projects that pass the primary election will receive the following support,

• Official website listing: Users can vote for projects. Likes may influence the final selection.
• Launch tasks on Bitlayer Racer Center. Bitlayer will reward participants with Bitlayer points that may unlock future BTR airdrops.
• Launch campaigns on Bitlayer Dapp Center providing project incentives. Bitlayer will reward users who complete tasks with Bitlayer points and project rewards.

3. Final selection:

In each final round,  Bitlayer Foundation, alongside with an investment institution judge will evaluate projects passed the primary round. The evaluation considers factors such as financing background, team situation, product innovation, community activity, and ecosystem impacts. Grants range from $10,000 to $300,000 based on results.

Process:

• Shortlisted project update project information;
• Each team presents for 10-15 minutes before the jury, who decides the final results;
• Bitlayer will engage selected projects to finalize grant terms as follows and sign cooperation agreements.

New builders grant releasing schedule,

• 50% after mainnet deployment;
• 50% after achieving milestone 1;

Experienced builders grant releasing schedule,

• 20% after mainnet deployment;
• 20% after achieving milestone 1;
• 25% after achieving milestone 2;
• 35% after achieving milestone 3;

Benefits:

• New Builders: Grants of $10,000 - $30,000, with opportunities to earn special awards, plus an extra $3,000 - $5,000 for winning these honors.
• Experienced Builders: Grants of $30,000 - $300,000, with opportunities to receive special sponsorship, exclusive for user growth events and 100% for participants, with a maximum value of $1 million.

4. Subsequent support:

Growth events:

• Ecological joint events: After each final round, selected projects will collaborate with Bitlayer to host events that drive ecosystem growth. Bitlayer will not only provide sponsorship*, but also provide marketing & media resource support.

  *For details about the sponsorship part, please see the Benefits part above

• Global offline roadshow: After each final selection, grant winners will have the opportunities to hold offline roadshows. Bitlayer will provide venues and publicity support.

Other support:

In addition, Bitlayer will also provide ecological investment endorsement, ecological resource integration, liquidity supplementation and listing incubation support for the winners.

5. Rewards Payment:

• Grants for projects: After TGE, grants can be exchanged for BTR tokens equivalent to their USD value, with specific unlocking conditions;
• Event prize for users: Distributed as Bitlayer gems, trackable on the official site; Gems can be exchanged for BTR tokens, subject to unlocking conditions.

About Bitlayer

Bitlayer is the first Bitcoin Layer 2 based on Bitcoin Finality.

Bitlayer provides developers and users with a native Bitcoin Layer 2 environment through its innovative technologies such as OpVM, Finality Bridge, and RtEVM. This platform ensures Bitcoin-equivalent security, a trustless cross-chain bridge, and a real-time EVM programming environment.

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SOURCE Bitlayer Labs