This afternoon, Binance Web3 Wallet officially announced that it has launched an airdrop event in conjunction with the well-known BTC Layer2 project BEVM. The author took a look, and after a comprehensive evaluation, this is a must-do event on the Bitcoin L2 track in 2024.
There are four main reasons:
1. The investment lineup is luxurious, with financing of tens of millions of US dollars and support from many well-known European and American institutions;
2. Leading technology, solid team, original Taproot Consensus Bitcoin Layer 2 solution, native innovation;
3. The first and currently the only BTC L2 project to jointly engage in activities with Binance Wallet;
4. The airdrop is open and there is no fund pledge game. You can just rub it manually. It is extremely friendly to retail investors.
1. BEVM’s investment institutions
BEVM recently announced the completion of its seed round and part of its Series A financing of tens of millions of US dollars, with a post-investment valuation of 200 million US dollars.
Among the announced investment institutions, in addition to regular Bitcoin ecosystem investment institutions such as Waterdrip Capital, ViaBTC Capital, and Satoshi Labs, there are also a number of European and American institutions, such as Rocktree Capital, MH Ventures, Akstream Capital, Mapleblock, Zephyrus Capital, Cogiten Ventures, and Lotus Capital.
Among them, Rocktree Capital is a well-known old Crypto investment institution in the United States. Its founder is Omer Ozden, whose Chinese name is Ouyang Mo, and he is also an international partner of Zhen Fund. In addition, Ouyang Mo has also served as a legal advisor to Facebook (now Meta) and a member of a panel in the US Congress. He has great influence in the financial circles of China and the United States. Rocktree Capital has invested in dozens of well-known Crypto projects including Chainlink, Tron, dYdX, Fantom, Casper, etc., and has strong capabilities in investment and deep incubation.
In addition to Rocktree Capital, BEVM's investment institutions also include MH Ventures, which has invested in well-known projects such as Celestia, Sei Network, and Linera; Mapleblock, which has invested in well-known projects such as Polyhedra, DAO maker, Kraken, and Huobi; and Akstream Capital, which has invested in well-known projects such as AAVE, Flow, Manta, and Particle, as well as many other leading European and American institutions.
BEVM has such a luxurious investment lineup, tens of millions of US dollars in financing, and a post-A round valuation of 200 million US dollars. It is such a big deal, of course it deserves attention.
2. The BEVM team is technologically advanced, has been deeply involved in the BTC ecosystem for 7 years, and has created the Taproot Consensus Bitcoin Layer 2 solution
The BEVM team was founded in 2017. Its founder, Gavin, participated in the research and development of the central bank’s digital currency in 2016, and wrote the first viable CBDC Demo based on the Bitcoin and Ethereum blockchains. In 2017, he wrote the code for the well-known public chain Bytom from 0 to 1. At the end of 2017, he left Bytom and founded the current BEVM team, which he has been working on ever since.
In 2018, Gavin launched ChainX, a BTC L2 solution based on Polkadot, which achieved 100,000+ BTC cross-chain and 500,000+ BTC Hash Lock; in 2021, based on the Bitcoin Taproot upgrade, a new Schnorr Signature and MAST-based Contract's BTC L2 solution; in May 2023, the BEVM team summarized nearly 7 years of BTC L2 entrepreneurship and practical experience and proposed a completely decentralized BTC L2 solution based on Taproot - Taproot Consensus.
Taproot Consensus=Schnorr Signature+MAST Contract+Bitcoin Light Node Network
Schnorr Signature allows Bitcoin multi-signature addresses to be expanded to 1,000, achieving decentralization of multi-signature addresses.
MAST Contract realizes the coding of multi-signature management, which does not rely on people to sign, but is driven by code.
The Bitcoin Light Node Network realizes multi-signature driven by Bitcoin light node network consensus, fully realizing decentralized Bitcoin cross-chain and management.
This is currently the most native and creative second-layer solution for Bitcoin.
The BEVM team has solid technical skills and has been deeply involved in the Bitcoin track. Its Bitcoin second-layer solution is unique and innovative and deserves long-term attention.
3. BEVM is the first and currently the only BTC L2 that has jointly organized activities with Binance Wallet
Since its launch, the Binance Web3 wallet has been mediocre and has not occupied much market share. The main reason is that this wave of traffic of Bitcoin Ecological Inscription has basically been absorbed by okx. This results in the Binance web3 wallet’s market share and influence in the Bitcoin ecosystem not being large. As for Bitcoin L2, which is the next wave of Bitcoin ecological traffic gathering place, Binance naturally does not want to miss it. According to rumors, Binance intends to increase the traffic of Binance web3 wallet by supporting the BTC L2 project. BEVM is the first BTC L2 to cooperate with Binance, which shows that the relationship and strength cannot be underestimated.
BEVM announced an airdrop campaign jointly launched with Binance Wallet. There are three on-chain behaviors in total. Users only need to complete any one of the actions to receive the airdrop.
According to public data, BEVM has taken out 0.5% of the total tokens for an open airdrop. This is the first time that Binance Wallet has cooperated with Bitcoin L2 to launch an airdrop event. It can be seen that BEVM is so strong that it can stand out from a large number of Bitcoin L2s and get the approval of Binance. I don’t need to elaborate on the details. In the future, is it worth looking forward to BEVM getting investment from Binance or even listing on Binance?
Therefore, BEVM is a very noteworthy big deal. The author participated in BEVM's Helsinki plans many times in 2023 and received a lot of airdrop points.
So, is this joint airdrop event between BEVM and Binance Wallet worth it?
It's very worth it, you have to massage your head.
4. A well-known airdrop, no fund pledging game, just rub it with your hands, extremely friendly to retail investors
Let's settle the score.
At present, BEVM's announced A round valuation is 200 million US dollars. According to industry practice, the B round valuation is generally 3-5 times the A round valuation. So, it is 600-1 billion US dollars. Let's take the B round valuation of at least 600 million US dollars for the time being. Generally, when a public chain token is launched, its FDV (total circulating market value) is generally 5-10 times the last round valuation, that is, 3 billion to 6 billion US dollars. Let's also calculate it according to the minimum 3 billion US dollars FDV. Then, the 0.5% of the total airdropped tokens in this and Binance Wallet will be about 3 billion*0.005=15 million US dollars after TGE.
In this airdrop with Binance Wallet, BEVM tokens worth 15 million US dollars were taken out at one time, which shows the pattern and sincerity of both parties.
What’s more important is that BEVM’s airdrop does not involve large-scale fund pledging games. As long as you complete basic tasks, you can get the airdrop. It can be said to be extremely friendly to retail investors.
The activity consists of only three simple on-chain actions:
First, check in the Binance Web3 wallet and enter the event link: https://binance-campaign.bevm.io/
1. Cross BTC to BEVM through BEVM official bridge or OmniBTC, and you can get airdrops with no limit on the amount.
The cost of using OmniBTC is low, about US$1.5/transaction. Therefore, only counting cross-chain consumption, the cost is about US$1.5.
2. Through satoshiprotocol.org, the Bitcoin over-collateralized stablecoin officially supported by BEVM, deposit BTC to mint stablecoin SAT to receive BEVM airdrops.
The minimum number of SAT minted is 10, which is about 10 US dollars. Note that it is not 10 US dollars consumed here, but BTC is used to mint stable coins. Stable coins can continue to be used in other projects such as DEX and Lending in the BEVM ecosystem. , and at the same time receive airdrops of these tokens, you can also exchange them back for BTC at any time after the event. Therefore, it is not considered a real expense.
Therefore, if the cross-chain cost is more than 10 US dollars in the first step, only the minting and GAS fees are calculated here, which is about 0.5 US dollars.
The overall cost of the first step + the second step is about 2 US dollars, and the total prepared funds are about 12 US dollars.
Note that using BTC to mint SAT here not only gets you BEVM token airdrops, but also Satoshi Protocol token airdrops (0.5% of the total Satoshi tokens). Recently, Satoshi Protocol announced that it has received investments from Web3port, Waterdrip Capital, BEVM Foundation, Cogitent Ventures and other institutions. As the only BEVM project currently recommended to participate in Binance Wallet activities, it is also worthwhile. Therefore, if you have a little more money, you can also complete the other two airdrop incentives of satoshiprotocol.org. The more money you deposit, the more airdrops you will get.
3. The third behavior is a daily check-in behavior on the chain.
That is, calling the Binance wallet every day to complete a check-in on the BEVM chain costs about US$0.15/time, 30 times, totaling about US$4.5. If you don’t want to do too many complicated operations, just check in on the chain for 30 days in a row. It only costs 4.5 US dollars, which is also the easiest way to get airdrops.
Therefore, the minimum amount of funds required for the three actions is 16.5 US dollars, but the actual cost is only 6.5 US dollars.
Let us suppose:
a. There are 100,000 people participating in this Binance event, which means a total investment of approximately US$650,000. Compared with the US$15 million airdrop, there is 23 times the profit margin.
b. There are 200,000 people participating in this Binance event, which means a total investment of approximately US$1.3 million. Compared with the US$15 million airdrop, there is 11.5 times the profit margin.
c. There are 500,000 people participating in this Binance event, which means a total investment of about 325 million US dollars. Compared with the airdrop of 15 million US dollars, there is a profit margin of 4.6 times
d. There are 1 million people participating in this Binance event, which means a total investment of about 6.5 million US dollars. Compared with the airdrop of 15 million US dollars, there is a profit margin of 2.3 times
Therefore, we conclude that in this airdrop event between BEVM and Binance Wallet, if less than 200,000-1 million people participate, there is a profit potential of 2.3 times to 23 times. If there are less than 1 million people participating, there is a stable profit margin, and there will be no counterattack.
According to the author’s past experience, with BEVM’s current investment lineup, technical strength, and the support of Binance Wallet, there is a high probability that the number of participants will be within 500,000-1 million people. Therefore, the profit margin is about 2.3 times to 4.6 times. If less than 500,000 people participate, it is considered a complete pick-up.
Therefore, the recommended level of this airdrop activity is A+, which is the highest level that you can win if you press your head.
This article is from a submission and does not represent the views of BlockBeats.
