Bitlayer co-founder Kevin He makes a concentrated response to issues of concern to the community

By updating the project's TGE time, token economic model, Lucky Helmet empowerment plan and other aspects

Recently, the cryptocurrency market has shown a narrow range of fluctuations, with BTC prices continuing to fluctuate between $70,000 and $90,000. In the absence of significant positive catalysts, the community has also shifted its focus to some leading projects that have not yet launched TGEs. After more than a year of ecological construction, the TGE time of some leading Bitcoin ecological protocol projects has also gradually approached the critical point.

In response to a recent hot topic in the Bitlayer community, Bitlayer co-founder Kevin He made a concentrated response to issues of concern to the community, such as project TGE, high on-chain GAS fees, weak empowerment of official asset helmets, and ecological wealth-creating effects, and focused on disclosing the technical progress and future plans of BitVM.

In addition, in order to better collect community feedback, the Bitlayer team has launched a call for community development proposals, and participants can fill out questionnaires through this link: https://forms.gle/Y7B9k5bN38x8W7399.

The following is Kevin's response to a recent hot topic in the Bitlayer community:

About TGE and community incentives

Q1: Bitlayer completed its seed round of financing as early as March 2024, and then successfully completed the A and A+ rounds of financing totaling 25 million US dollars. The team also gave BTR as an airdrop reward to community users in its operational activities very early. Does the team have a clear time for the project's TGE? What stage is it currently in?

Kevin: We are indeed in the final stage before TGE. The TGE stage will involve multi-dimensional systematic work including finalizing the token economic model, adapting the global compliance framework, and communicating with exchanges and market makers. However, since these links involve confidentiality agreements with partners, the specific timetable cannot be disclosed at this stage.

What is clear is that we have made positive progress in all aspects. Once all necessary processes are completed and final confirmation is obtained, we will make simultaneous progress through official announcements, community channels, and other channels as soon as possible. Please wait for good news.

Q2: When does the team plan to announce the token economic model? How to set the token distribution ratio? What is the utility of the BTR token?

Kevin: The design of the token economic system is a key pillar of the project's long-term ecological value. The team has always promoted related work with rigor and sustainability as the core principles. At present, details such as token allocation ratio, release rules and utility scenarios have entered the final demonstration stage.

We understand the community's expectations for TGE, but we are unable to disclose specific details at this time. We promise to fully announce the token economic model through official channels at an appropriate stage before TGE, and reserve sufficient time for the community to interpret the rules. You can find the latest information in official articles later.

Q3: Are there any lock-up rules for the BTR rewards that users receive through activities such as the First Mining Festival and BTCFI Carnival? How will the team prevent large-scale selling pressure in the market after the token is launched?

Kevin: The lock-up rules for the BTR rewards in the above-mentioned activities are related to the specific activities. For example, the airdrops in the 3rd First Mine Festival and the racing card drawing activities in the user center correspond to non-locked BTR rewards. For more details, you can check the corresponding event announcement for confirmation.

In general, our design of airdrop rewards strictly follows the principle of binding contribution with long-term value. All reward distribution processes will set differentiated release cycles based on on-chain behavior and ecological participation. Specific rules and details will be fully disclosed through official announcements before TGE, and will be open to community Q&A.

Q4: Lucky Helmet is the first officially issued NFT of Bitlayer. Will there be other empowering initiatives in the future?

Kevin: The helmet is Bitlayer's first official NFT, and the holders are the first batch of Bitlayer users. Before this, we have provided helmet holders with points bonus and other empowerments in the first mining festival, and also carried out exclusive BTR token airdrops. The team has no reason to give up on the helmet empowerment, and we promise to carry out more empowerment in various activities in the future. If the holders have better suggestions, they can contact the Bitlayer team for feedback.

About ecological development and operation strategy

Q5: We have noticed that some Bitlayer ecological projects have been suspended. Does Bitlayer have no audit mechanism when cooperating with ecological projects? In addition, the entire Bitlayer ecosystem currently has no wealth-creating effect and does not receive much attention. How do you view this issue?

Kevin: As a public chain operator, Bitlayer welcomes more projects to build and