Bitcoin Layer 2 project Bitlayer launches a $50 million ecosystem incentive plan

PANews reported on March 29th that Bitlayer, a Bitcoin Layer2 infrastructure project based on the BitVM paradigm, announced the launch of a $50 million ecosystem incentive plan to promote the development of its mainnet ecosystem. The first phase of the incentive activity named "Ready Player One" will open for registration from 09:00 UTC on March 29, 2024, and close at 09:00 UTC on April 29, 2024. It will officially begin after the launch of the Bitlayer mainnet. Specific rules and reward distribution guidelines for the activity will be disclosed in subsequent announcements. Through series like "Ready Player One," Bitlayer aims to accelerate ecosystem development and incentivize projects to deploy on the Bitlayer mainnet. Additionally, Bitlayer commits to providing comprehensive ecosystem support for all projects including potential foundation and institutional investments, initial liquidity support, full product development resources, guidance and investment opportunities from top incubators, support from Bitcoin community and OGs (original gangsters), ecosystem collaborations and co-creation efforts.