Bitcoin Layer 2 project Bitlayer announced the initiation of the Ready Player One program in anticipation of the forthcoming mainnet launch. This marks the first initiative in a series of ecosystem incentive programs called “Ready Player,” aimed at supporting ecosystem projects operating on the Bitlayer main network.

According to the announcement, teams that register and engage in building the Bitlayer ecosystem will be rewarded with tokens corresponding to their contributions to the ecosystem. The total value of rewards for the first phase of the event surpasses $50 million. Registration for Ready Player One will commence today and remain open until April 29th.

#Bitlayer Presents Ready Player One Ecosystem Incentive Program:$50,000,000 in Rewards for Early Builders & Contributors!Join us in shaping the future of #Bitcoin.Register now: https://t.co/7FzDTaYgEaKnow more: https://t.co/eyaoG6k3DR

— Bitlayer (@BitlayerLabs) March 29, 2024

Ready Player One encourages project teams to explore effective ways to utilize token rewards to achieve broader user adoption, in collaboration with Bitlayer team. Apart from incentivizing developers, Bitlayer will offer builders potential investment opportunities, liquidity support, compensation for product development resources, among other benefits.

The program primarily targets projects operating within domains including DeFi, Infrastructure, NFTs, Decentralized Identity and Privacy, GameFi, and SocialFi.

Bitlayer Raises $5M in Seed Funding to Facilitate Mainnet Launch And Support Ready Player One 

Bitlayer operates as a Layer 2 protocol based on BitVM paradigm, ensuring Bitcoin-equivalent security and Turing-completeness. The project focuses on trustless entry and exit of assets from Layer 1, state transitions facilitated by a Turing-complete Layer 2 virtual machine, and verification of Layer 2 state transitions’ validity by Layer 1.

It introduces enhanced scalability to the Bitcoin ecosystem, providing users with rapid transaction processing alongside Layer 1 verification, secure asset bridging, compatibility with the Ethereum Virtual Machine (EVM), and state transitions. 

Recently, Bitlayer concluded a seed funding round raising $5 million, which was led by Framework Ventures and ABCDE Capital, along with other contributors and angel investors. The funding will be utilized to facilitate the launch of the mainnet, scheduled for April 5th and provide support for the Ready Player One program.  

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