Source of this chapter: Bitlayer
On September 12, Bitlayer announced the launch of the Booster Grants Program, a developer acceleration program. As part of the developer airdrop event Ready Player One, starting from September 12, 2024, the Bitlayer Foundation will select outstanding ecological projects from the projects registered for the program every month, and allocate ecological incentives worth up to $1 million.
According to the official announcement, no matter it is a startup team with good ideas or a mature project that has been deeply cultivated, the projects that pass the final selection will receive funding ranging from US$10,000 to US$300,000. In addition, Bitlayer will provide additional incentives such as rewards worth US$3,000 to US$5,000 and an exclusive event prize pool worth up to US$1,000,000 to teams that receive special honorary titles. All incentives will be exchanged for corresponding BTR tokens after Bitlayer TGE.
In the latest announcement, Bitlayer released important information about the registration, preliminary selection, final selection, subsequent support and reward payment of this developer acceleration program.
1. Registration warm-up
According to the official announcement, project parties who want to participate in this plan must pass Bitlayer official websiteRegistration. The materials required for registration include project information, financing progress, core team introduction, plan and roadmap, as well as product testing links or videos (if any).
It is understood that the review committee will evaluate the projects registered before the 30th of each month. Projects registered after the 30th will enter the next month’s evaluation sequence. The subsequent evaluation process can be initiated after successful registration.
2. Project Preliminary Selection
The Bitlayer review committee will conduct rolling review based on the registration information. If further review is required, Bitlayer will contact the team and complete the due diligence process to determine whether the project is suitable for the Bitlayer ecosystem.
Projects that pass the preliminary selection will have the opportunity to receive the following support:
• existEvent official websiteDisplay: supports users to vote and like. The number of user likes will affect the multiple-choice evaluation to a certain extent.
• existBitlayer User CenterExclusive online tasks, users can earn Bitlayer points and have the opportunity to unlock future BTR token airdrops;
• existBitlayer Application CenterThrough the joint launch event, users can receive project rewards and Bitlayer points, and have the opportunity to unlock future BTR token airdrops.
3. Final selection of projects
In each final selection phase, the Bitlayer Foundation will invite at least one investment institution as a joint judge to conduct a multi-dimensional evaluation of the financing background, team situation, product innovation, community activity, etc. of the projects that have passed the preliminary selection. Based on the evaluation results, the project party will receive funding ranging from US$10,000 to US$300,000 from the Bitlayer Foundation.
The specific process and reward information are as follows:
• The project party updates project information and progress;
• The jury organizes the selection, and the projects are presented for 10-15 minutes in turn, and the results are announced on site;
• Bitlayer communicates one-on-one with the winning project on the following reward release rules and completes the signing of the cooperation agreement.
In addition, startup projects that sign up for the Bitlayer Developer Acceleration Program will have the opportunity to unlock special honorary titles, and projects that receive special honors will receive an additional reward of $3,000 to $5,000; mature projects will have the opportunity to receive special sponsorship from Bitlayer, which will be used exclusively for the project’s user growth activities, with a maximum value of $1 million, and will ultimately be distributed 100% to valid users participating in the event.
4. Subsequent support
It is understood that teams that perform well in the program will receive various growth activities and other ecological resource support from the Bitlayer team, including but not limited to:
Ecological joint activities：After each round of final selection, Bitlayer will invite high-quality projects from the current winners to hold joint activities. During the event, Bitlayer will not only provide bonus sponsorship to the project party (for details about the sponsorship part, please see the additional incentives above), but also provide official market media resource support to promote the common growth of the ecosystem;
Global offline roadshow: After each final selection, the projects that successfully receive funding will have the right to conduct offline roadshows at global events hosted by Bitlayer, and Bitlayer will provide venues and publicity support for the project parties.
In addition to the above growth activities, Bitlayer will also provide the winners with ecological investment support, ecological resource integration, liquidity supplementation and project incubation support.
5. Reward Payment
The funding received by the project party in the program will be supported after TGE to be exchanged for BTR tokens of equivalent value in US dollars and unlocked in a certain way. The activity rewards obtained by users will be issued in the form of gems before TGE, and users can query them. After TGE, users can directly exchange them for BTR tokens of equivalent value and unlock them according to conditions.
About Bitlayer
Bitlayer is the first Bitcoin layer 2 project based on Bitcoin Finality.
Bitlayer is building a Bitcoin-native second-layer ecosystem supported by innovative technologies such as OpVM, Finality Bridge and RtEVM, providing developers and users with Bitcoin security equivalence, trustless cross-chain bridges and real-time EVM programming experience.
