Cardiff, UK, April 4, 2024, Chainwire

In response to Binance Web3's official announcement, Binance Web3 Pockets has formally launched a joint airdrop occasion with BTC Layer2 undertaking BEVM. A person who completes three easy duties in BEVM via Binance Web3 Pockets will obtain an unique airdrop of BEVM tokens. BEVM will allocate 10,500,000 (0.5%) $BEVM as an airdrop to Binance Pockets customers who take part on this occasion. That is the primary collaboration between Binance Web3 pockets and Layer2.

BEVM is an EVM-compatible Bitcoin Layer 2 based mostly on Taproot consensus that makes use of $BTC as gasoline and allows totally decentralized $BTC cross-chains, permitting $BTC for use in a trustless method to Make it accessible for deployment in your software. BEVM lately introduced the completion of a $10 million funding spherical with investments from almost 20 establishments together with Rocktree Capital, Waterdrip Capital, Arkstream Capital, ViaBTC Capital, MH Enterprise, and Mapleblock. BEVM formally launched his mainnet on March twenty eighth, and in only one week, his mainnet has acquired over 600,000 person addresses.

What’s BEVM?

BEVM is the primary EVM-compatible Bitcoin L2 constructed on Taproot Consensus and makes use of $BTC as gasoline.

Taproot Consensus, based mostly on Musig + Bitcoin SPV, is the fruits of the BEVM workforce's six-year exploration of Bitcoin Layer2 options.

BEVM has two narratives, the primary is “BEVM-Stack” (with #BTClayer2 as a service), which permits builders to launch #BTClayer2 with one click on. Second, BEVM has developed the DBFX (Decentralized Bitcoin International Alternate) protocol to seamlessly bridge native $BTC to any Defi protocol on any chain. BEVM's final objective is to introduce 10% of $BTC to the Layer2 community and broaden the appliance situations of $BTC to allow the precise circulation of $BTC.

BEVM's main historic milestones embrace:

2017: BEVM workforce established.

2018: Launched BTC layer 2 answer ChainX to retailer hash locks of over 100,000 $BTC and over 500,000 $BTC.

June 2023: Formal proposal for BEVM Canary Community.

November 29, 2023: BEVM whitepaper revealed.

March 2024: Proclaims securing $10 million in funding at a post-investment valuation of as much as $200 million.

March 2024: Mainnet launch announcement.

BEVM Funding Particulars

On March 25, 2024, BEVM introduced the completion of a $10 million funding spherical, with a post-investment valuation of as much as $200 million. Roughly 20 buyers, primarily from Europe and the USA, participated on this funding spherical.

Amongst these buyers, RockTree Capital stands out as a distinguished and skilled US-based crypto funding establishment. Based by Omer Ozden, who can be a world companion at ZhenFund World Ventures, RockTree Capital has vital affect within the monetary world in China and the USA. Omer Özden beforehand served as normal counsel for Fb (NASDAQ:) (now Meta) and is a member of the USA Congress. RockTree Capital has a powerful monitor file of investing in and nurturing a variety of well-known crypto tasks, together with Chainlink, Tron, dYdX, Fantom, and Casper.

Along with RockTree Capital, different distinguished buyers within the BEVM undertaking embrace MH Ventures, which has invested in well-known tasks resembling Celestia, sei Community, and Linea. Mapleblock is thought for its investments in Polyhedra, DAO maker Kraken, and Huobi. Arkstream Capital has invested in tasks resembling AAVE, Move, Manta, and Particle.

Along with Viabtc Capital, one of many world's high three Bitcoin mining swimming pools, Waterdrip Capital and Satoshi Labs additionally take part on this funding.

Technical benefits of BEVM

Within the present market, BTC layer 2 expertise options will be broadly divided into 5 varieties: Bitcoin sidechain, UTXO + consumer verification, Taproot consensus, multi-signature + EVM, and Roullp.

BEVM employs the Taproot Consensus expertise proposed and carried out by the BEVM workforce and serves as a typical use case for Taproot Consensus.

Taproot Consensus is a layer 2 answer constructed on three main native Bitcoin applied sciences: Because the Bitcoin Taproot improve in 2021, it has steadily matured. The essence of Taproot consensus lies within the Schnorr signature + MAST contract + Bitcoin Lite node community.

Schnorr Signature allows custodian decentralization by scaling Bitcoin's multi-signature custodians to 1,000 folks. MAST contracts depend on code reasonably than handbook signatures to implement code-based signature aggregation administration. The Bitcoin Lite Node Community allows decentralized Bitcoin cross-chain transactions and administration via consensus via Bitcoin SPVs.

On March 28, 2024, BEVM's mainnet based mostly on Taproot consensus was formally launched and reached over 600,000 person addresses inside every week. That is at the moment probably the most carried out Bitcoin Layer2 options.

In abstract, in comparison with different BTC L2 expertise options in the marketplace, BEVM boasts unparalleled benefits when it comes to the native nature of Bitcoin expertise, decentralization, and stage of implementation.

Marketing campaign particulars between Binance Web3 Pockets and BEVM

On April 4th, BEVM introduced a joint airdrop marketing campaign with Binance Pockets, providing airdrops upon finishing any of three specified on-chain actions. BEVM has allotted 0.5% of its complete token provide to this airdrop. That is additionally the primary airdrop occasion the place Binance Pockets collaborated with Bitcoin Layer2.

To take part within the occasion, customers might want to entry their Binance Web3 pockets and go to https://binance-campaign.bevm.io. This marketing campaign consists of his three duties: bridging $BTC to his BEVM, making a place on the Satoshi protocol, and each day check-ins on BEVM.

Person participation tutorial:

Step 1: Entry and arrange your Binance Web3 pockets

First, ensure you have a Binance account. If not, you could create one.

Subsequent, obtain and set up the Binance Web3 pockets. This may be discovered on Binance's official web site.

As soon as the set up is full, comply with the directions to arrange your pockets.

Step 2: Attend the occasion

Entry the occasion web page utilizing Binance Web3 Pockets.

Full the three duties required for the occasion.

Bridge $BTC to BEVM: Observe the directions on the web page to bridge $BTC from the primary chain to the BEVM chain.

Create a place in Satoshi Protocol: Go to Satoshi Protocol and create a brand new place.

Every day Verify-in: Go to and check-in your BEVM web page each day.

Extra assist and tutorials:

Customers can watch this tutorial video to grasp detailed steps to take part.

Customers can even learn the BEVM weblog submit for extra details about the ten,500,000 BEVM Airdrop Marketing campaign.

About BEVM

BEVM introduces a revolutionary EVM-compatible Bitcoin Layer 2 answer that makes use of BTC because the gasoline for transactions. This totally decentralized platform bridges the hole between Bitcoin and the ecosystem, permitting DApps to function seamlessly on high of Bitcoin Layer 2. It options revolutionary cross-chain interactions, knowledge integrity ensures, distributed processing, and a sturdy consensus mechanism for enhanced scalability and safety. BEVM goals to foster innovation within the Bitcoin ecosystem via EVM compatibility, a totally decentralized structure, and an revolutionary incentive mannequin. For extra data, please go to the web site bevm.io.

For extra details about BEVM, go to the official web site | Twitter | Discord | Weblog | Github

contactBEVM workforce[email protected]

This text was initially revealed on Chainwire