Bitlayer, a Bitcoin Layer 2 network, announced the launch of the Head Mining Festival in collaboration with seven Bitcoin ecosystem projects on May 27th. The festival will run for two weeks and offer users token airdrop rewards worth over $24.35 million. Here’s how to participate:
Summary:
Bitlayer, a Bitcoin stablecoin project, launched its Bitlayer L2 network on bitSmiley’s V1 platform.
Background:
Why does Bitcoin need Layer 2? An overview of Lightning Network to BEVM, old and new projects.
Table of Contents:
1. Event Duration
2. Reward Pool
3. Participation Methods
4. Bitlayer Head Mining Festival Tutorial
This press release is provided by Bitlayer and is not affiliated with the publication.
On May 27th, Bitlayer, in collaboration with Lorenzo, Bitsmiley, Avalon, Bitcow, Pell, Enzo, and Bitparty, launched the Head Mining Festival. This edition of the festival will provide users with token airdrop rewards worth over $24.35 million, along with additional opportunities to earn substantial rewards.
The festival will last for two weeks, from May 27th to June 10th.
The rewards for this edition of the festival consist of two parts:
1. Exclusive Airdrop for the Head Mining Festival:
The project team will provide users with a total of over $24.35 million worth of token airdrops, with most tokens expected to complete their Token Generation Events (TGE) within 1-2 months.
2. Bitlayer Dapp Ranking Competition Airdrop:
The project team promises to distribute 100% of the Bitlayer Gems obtained in the Bitlayer Dapp Ranking Competition to users. After the competition ends, users who have interacted with any of the participating projects will be able to exchange a certain proportion of their Bitlayer Gems for Bitlayer tokens (BTR) after the TGE.
To participate, users need to log in to the exclusive Head Mining Festival page on Bitlayer and complete the corresponding tasks according to the provided instructions.
Official Head Mining Festival Page:
Users can earn airdrop qualifications by performing various on-chain interactions such as adding liquidity, creating transactions, and borrowing assets, based on the interactive tasks set by the project. Additionally, users who complete at least one task set by a single project and share it with their friends will receive a free Bitlayer Head Mining Festival Pioneer Badge for the corresponding project.
People’s Launchpad Activity Page:
Some projects will set interactive tasks on this platform, allowing users to participate in the corresponding reward pool by completing tasks such as following social media accounts, inviting new users, and generating various specified on-chain interactions.
With the official launch of the Head Mining Festival, users can participate in token airdrop allocations provided by the project by increasing their on-chain activities. The following preparations need to be made by users before participating in the festival:
1. Bitlayer supports Lightning Network deposits, allowing users to quickly convert USDT (ERC20/TRC20) into BTC on the Bitlayer chain. A specific tutorial can be found at: [insert link]
2. If users want to transfer their BTC and ETH assets to Bitlayer, they can use third-party bridges. A specific tutorial can be found at: [insert link]
3. If the amount of funds transferred by users exceeds $50,000, it is recommended to use the official bridge to transfer BTC to Bitlayer. A specific tutorial can be found at: [insert link]
Furthermore, for tutorials on how to participate in the Head Mining Festival for each project, please refer to the following link: [insert link]
About Bitlayer:
Bitlayer is the first Bitcoin Layer 2 network based on BitVM, aiming to solve the trade-off dilemma between security and Turing completeness in Bitcoin Layer 2 through cryptographic innovation and blockchain engineering. Bitlayer aims to become the computational layer of Bitcoin, introducing scalability while maintaining security and providing users with high throughput and low-cost transaction experiences.
Follow Bitlayer for updates through the following channels:
Website | Twitter | Discord
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