Up to $1 million in incentives! Bitcoin native second-layer project Bitlayer launches developer acceleration program

Source of this chapter: Bitlayer

On September 12, Bitlayer announced the launch of the Booster Grants Program, a developer acceleration program. As part of the developer airdrop event Ready Player One, starting from September 12, 2024, the Bitlayer Foundation will select outstanding ecological projects from the projects registered for the program every month, and allocate ecological incentives worth up to $1 million.

According to the official announcement, no matter it is a startup team with good ideas or a mature project that has been deeply cultivated, the projects that pass the final selection will receive funding ranging from 10,000 to 300,000 US dollars. In addition, Bitlayer will provide additional incentives such as 3,000 to 5,000 US dollars worth of rewards and an exclusive event prize pool worth up to 1,000,000 US dollars for teams that receive special honorary titles. All incentives will be exchanged for corresponding BTR tokens after Bitlayer TGE.

In the latest announcement, Bitlayer announced important information about the registration, preliminary selection, final selection, subsequent support and reward payment of this developer acceleration program.

1. Registration warm-up

According to the official announcement, project parties who want to participate in this plan must register through the Bitlayer official website. The materials required for registration include project information, financing progress, core team introduction, plan and roadmap, and product test links or videos (if any).

It is understood that the review committee will evaluate the projects registered before the 30th of the month every month. Projects registered after the 30th will enter the evaluation sequence of the next month. After successful registration, the subsequent evaluation process can be started.

2. Project preliminary selection

The Bitlayer review committee will conduct rolling review based on the registration information. If further review is required, Bitlayer will contact the team and complete the due diligence process to determine whether the project is suitable for the Bitlayer ecosystem.

Projects that pass the preliminary selection will have the opportunity to receive the following support:

• Display on the official website of the event, support users to vote and like, the number of user likes will affect the multiple-choice evaluation to a certain extent;

• Launch exclusive tasks on the Bitlayer User Center, users can obtain Bitlayer points, and have the opportunity to unlock future BTR token airdrops;

• Launch joint activities on the Bitlayer Application Center, users can obtain project rewards and Bitlayer points, and have the opportunity to unlock future BTR token airdrops.

3. Final Project Selection

In each final selection phase, the Bitlayer Foundation will invite at least one investment institution as a joint judge to conduct a multi-dimensional evaluation of the financing background, team situation, product innovation, community activity and other information of the projects that have passed the preliminary selection. According to the evaluation results, the project party will receive a funding amount ranging from 10,000 to 300,000 US dollars from the Bitlayer Foundation.

The specific process and reward information are as follows:

• The project party updates the project information and progress;

• The jury organizes the selection, and the projects are presented for 10 to 15 minutes in turn, and the results are announced on the spot;

• Bitlayer communicates with the winning project one-on-one on the following reward release rules and completes the signing of the cooperation agreement.

In addition, startup projects that sign up for the Bitlayer Developer Acceleration Program will have the opportunity to unlock special honorary titles, and projects that receive special honors will receive an additional reward of $3,000 to $5,000; mature projects will have the opportunity to receive special sponsorship from Bitlayer, which will be used specifically for the project's user growth activities, with a maximum value of $1 million, and will ultimately be 100% distributed to valid users who participate in the activities.

4. Subsequent support

It is understood that teams that perform outstandingly in the program will receive various growth activities and other ecological resource support from the Bitlayer team, including but not limited to:

Eco-joint activities: After each final selection, Bitlayer will invite high-quality projects from the current winners to hold multi-party joint activities. During the event, Bitlayer will not only provide bonus sponsorship to the project party (for details about the sponsorship part, please see the additional incentives above), but also provide official market media resource support to promote the common growth of the ecosystem;

Global offline roadshow: After each final selection, the project that successfully obtains funding will have the right to conduct an offline roadshow in the global tour event held by Bitlayer, and Bitlayer will provide venues and publicity support for the project party.

In addition to the above growth activities, Bitlayer will also provide ecological investment support, ecological resource integration, liquidity supplementation and project incubation support for the winners.

5. Reward redemption

The funding obtained by the project party in the plan will support the project party to exchange for BTR tokens equivalent to US dollars after TGE, and will be unlocked in a certain way. The activity rewards obtained by users will be issued in the form of gems before TGE, and users can query them. After TGE, users can directly exchange them for BTR tokens of equal value and unlock them according to conditions.

About Bitlayer

Bitlayer is the first Bitcoin second-layer project based on Bitcoin Finality.

Bitlayer is building a Bitcoin native second-layer ecosystem supported by innovative technologies such as OpVM, Finality Bridge and RtEVM, providing developers and users with Bitcoin security equivalence, trustless cross-chain bridges, and real-time EVM programming experience.

This article comes from a contribution and does not represent the views of BlockBeats.