Bitcoin DeFi Gets Boost as Bitlayer Kicks Off BTR Airdrop Milestone

Bitlayer has initiated the verification phase for its BTR airdrop, with the claiming window opening at 6:00 PM UTC on August 27, marking a significant milestone for the Bitcoin DeFi ecosystem. The airdrop, part of the Token Generation Event (TGE), is designed to reward early contributors, partners, liquidity providers, and community participants who have engaged with the Bitlayer network. The airdrop allocation amounts to 10% of total BTR tokens for ecosystem incentives and 2.66% for Binance Booster and pre-TGE campaigns. The claiming window will remain open for one month for each unlock period starting from August 27 at 10:00 UTC.

Eligibility for the BTR airdrop is determined by various categories of contributions to the Bitlayer ecosystem. These include holders of BTR, Bitlayer Gems, and Bitlayer Points credited at the Bitlayer Racer Center, as well as participants in the Bitlayer Super Racer Draw and community events such as lucky draws on the Bitlayer official X account and ambassador programs. Additional categories include anti-rug warriors and participants in joint campaigns with partners like Binance, OKX, Bybit, and GoPlus. The airdrop also encompasses rewards from the Desyn BLBTC Trading Pool, DeAgentAI, and RollX Ecosystem Series campaigns, where BTR is part of the earnings or rewards structure.

The claiming process involves connecting eligible wallets and following the vesting schedules outlined by Bitlayer. For example, BTR rewards from the Super Racer Draw and Community Events are 100% unlocked at TGE. Meanwhile, BTR credited at the Bitlayer Racer Center is subject to a three-tier vesting schedule: 80% unlocked at TGE, 10% unlocked 6 months after TGE, and 10% unlocked 12 months after TGE. Similar vesting applies to Bitlayer Gems and Points. It is worth noting that BTR rewards from the Binance Booster and Binance Wallet Ecosystem Campaigns are claimable via Binance Wallet on the BNB chain, with unlock schedules detailed on the Binance Wallet rewards claim page. Users who participated in Bitcoin Layer 1 staking liquidity provision can connect their BTC addresses to claim incentives on their designated Bitlayer or BSC wallets.

Bitlayer emphasized the importance of ensuring that eligible wallets hold sufficient gas for BTR claiming, as BitlayerBTC serves as the gas token on the Bitlayer Chain. The project also highlighted the need for users to remain vigilant against scams and verify all information from official channels. This round of the BTR airdrop is positioned as a foundational step in Bitlayer’s broader strategy to expand Bitcoin’s utility through DeFi infrastructure, including a trust-minimized BitVM Bridge, a yield-bearing asset YBTC, and a high-throughput Bitcoin Rollup.

The announcement of the BTR airdrop and TGE aligns with Bitlayer’s broader token economics, which allocates 40% of the total supply for ecosystem incentives, 20.25% to investors and advisors, 12% to the core team, 11% for public distribution, 7.75% for node incentives, 6% for the treasury, and 3% for liquidity. The token’s total supply is fixed at 1 billion, with an initial circulation of 261.6 million tokens. The BTR token is designed to facilitate staking, node voting, on-chain governance, and a fee distribution mechanism, with cross-chain compatibility across the Ethereum mainnet and BNB Smart Chain.

Analysts and market observers have noted the potential for BTR to gain traction due to its alignment with Bitcoin’s security and scalability goals. Early price projections suggest a launch range between $0.35 and $0.50, with short-term expectations reaching between $1 and $2 and a longer-term prediction of $10 within a year, contingent on continued adoption and market demand. The project’s listing on major exchanges such as Binance, KuCoin, and MEXC further supports its visibility and accessibility in the broader cryptocurrency market.

Source:

[1] BTR Airdrop: Rules & Overview (https://medium.com/@Bitlayer/btr-airdrop-rules-overview-b90795fdf53d)

[2] Bitlayer has opened BTR airdrop inquiries and will be … (https://www.panewslab.com/en/articles/dc730d23-899f-4a6f-8418-ecb409e22537)

[3] PA Daily | Bitlayer Announces BTR Token Economics (https://www.panewslab.com/en/articles/8f81ea4b-1f3b-484e-bd05-332ac1683ec5)

[4] Bitlayer Listing Date Out Now: BTR Token Price Details Here (https://www.coingabbar.com/en/crypto-currency-news/bitlayer-listing-date-officially-out-btr-price-prediction-detail?srsltid=AfmBOooBKJmORF6BrKhU10oY1o1n3rzUDFSKspiBeehc5-ZtntCxTdxo)