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Bitcoin L2 will definitely be a big deal in 2024: BEVM and Binance Wallet will jointly launch a $10 million airdrop event

24-04-04 16:30

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This afternoon, Binance Web3 wallet officially announced that it has launched an airdrop event in cooperation with the well-known BTC Layer2 project BEVM. The author took a look and comprehensively evaluated that this is an event that must be held in 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 second-layer solution, native innovation;

3. The first and currently the only BTC L2 project to jointly organize activities with Binance Wallet;

4. Open airdrop, no fund pledge game, just rub it by hand, extremely friendly to retail investors.

1. BEVM's investment institutions

BEVM recently announced the completion of the seed round and part of the A round of tens of millions of US dollars in financing, with a post-investment valuation of 200 million US dollars.

Among the announced investment institutions, in addition to 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-fashioned 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. Not only that, Ouyang Mo has also served as a legal advisor to Facebook (now Meta) and was a member of the US Congressional Group. 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 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.

BEVM has such a luxurious investment lineup, tens of millions of US dollars in financing, and a post-A round valuation of US$200 million. With such a huge amount of money, of course we need to pay attention.

2. The BEVM team has leading technology, has been deeply involved in the BTC ecosystem for 7 years, and created the original Taproot Consensus Bitcoin second-layer solution

The BEVM team was founded in 2017. Its founder Gavin participated in the research and development of central bank digital currency in 2016 and wrote the first feasible CBDC Demo based on the Bitcoin and Ethereum blockchains; in 2017, from 0 to 1 I finished writing the code of the well-known public chain Bytom. At the end of 2017, I left Bytom and founded the current BEVM team, which has been there 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 BTC L2 solution based on Schnorr Signature and MAST Contract was sorted out; 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 Let Bitcoin multi-signature addresses can be expanded to 1,000 to achieve decentralization of multi-signature addresses.

MAST Contract realizes coding of multi-signature management and does not rely on people to sign, but relies on code driving.

Bitcoin Light Node Network realizes the 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 a solid technical foundation and is deeply involved in the Bitcoin track. The Bitcoin second-layer solution is unique and innovative and deserves long-term attention.

Third, BEVM is the first and only BTC L2 that is currently cooperating with Binance Wallet

Since its launch, Binance Web3 Wallet has been performing mediocrely and has not occupied much market share. The main reason is that the current wave of Bitcoin ecological inscription traffic has been basically sucked up by OKX. This has led to the fact that Binance Web3 Wallet has a small market share and influence in the Bitcoin ecosystem. As the next wave of Bitcoin ecological traffic gathering place, Bitcoin L2, Binance naturally does not want to miss it. According to rumors, Binance intends to support the BTC L2 project to increase the traffic of Binance Web3 Wallet. BEVM is the first BTC L2 to cooperate with Binance, which shows that the relationship and strength should not be underestimated.

BEVM announced an airdrop event jointly launched with Binance Wallet. There are a total of three on-chain behaviors, and users only need to complete any one of the actions to get 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's comprehensive strength is so strong that it can stand out from a group of Bitcoin L2s and get the approval of Binance. I don't need to elaborate on it. In the future, is it worth looking forward to BEVM getting investment from Binance or even listing on Binance?

Therefore, BEVM is a big deal worthy of attention. The author participated in BEVM's Helsinki plan many times in 2023 and got a lot of airdrop points.

So, is BEVM's joint airdrop event with Binance Wallet worth it?

It's very worthwhile and you have to do it.

Fourth, open airdrop, no fund pledge game, just rub it manually, extremely friendly to retail investors

Let's do the math.

Currently, BEVM's announced A round valuation is 200 million US dollars. According to industry regulations, 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 the 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 total amount of tokens airdropped this time and Binance Wallet is 0.5%, which is 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.

And more importantly, this airdrop of BEVM does not involve large-scale fund pledging games. As long as you complete the basic tasks, you can get the airdrop. It can be said that it is extremely beneficial to retail investors. friendly.

There are only three simple on-chain actions in the activity:

First, check in Binance Web3 Wallet, enter the activity link: https://binance-campaign.bevm.io/

1. Passed Use the BEVM official bridge or OmniBTC to cross BTC to BEVM to 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. Bitcoin over-collateralized stablecoin officially supported by BEVM, satoshiprotocol.org, deposit BTC to mint the stable currency SAT, and you can get the BEVM airdrop.

The minimum number of minted SATs is 10, which is about 10 US dollars. Note that 10 US dollars are not consumed here, but stable coins are minted using BTC. , the stable currency can continue to be used in other projects such as DEX and Lending in the BEVM ecosystem, and at the same time obtain airdrops of these tokens, and can also be exchanged 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 by using BTC to mint SAT, you can not only get the BEVM token airdrop, but also the Satoshi Protocol token airdrop (also 0.5% of the total Satoshi tokens). Recently, Satoshi Protocol announced that it has obtained Web3port, Waterdrip Capital As well as investments from BEVM Foundation, Cogitent Ventures and other institutions, as the only project that BEVM currently recommends to participate in Binance Wallet activities, it is also very worthy of investment. Therefore, if you have a little more funds, you can also complete the other two tasks of satoshiprotocol.org An airdrop incentive. The larger the deposit, the more airdrops you will receive.

3. The third behavior is a daily on-chain check-in behavior

That is, every To call the Binance wallet daily and complete a check-in on the BEVM chain, the cost is 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.

We assume:

a. There are 100,000 people participating in this Binance event , that is a total investment of approximately US$650,000. Compared with the airdrop of US$15 million, there is 23 times the profit potential

b. There are 200,000 people participating in this Binance event, which is about 130 A total investment of US$10,000, compared to an airdrop of US$15 million, has 11.5 times the profit potential

c. There are 500,000 people participating in this Binance event, which means a total investment of approximately US$325, which is relatively Compared with the airdrop of 15 million U.S. dollars, there is a 4.6 times profit margin

d. There are 1 million people participating in this Binance event, which is a total investment of approximately 6.5 million U.S. dollars. Compared with 15 million U.S. dollars airdrop, there is 2.3 times the profit potential

Therefore, we conclude that in this airdrop event of BEVM and Binance Wallet, between 200,000 and 1 million people If you participate within this period, you will have a profit margin 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.

Based on my past experience, with BEVM's current investment lineup, technical strength and the support of Binance Wallet, the number of participants is likely to be between 500,000 and 1 million. Therefore, the profit margin is about 2.3 times to 4.6 times. If less than 500,000 people participate, it will be a complete profit.

Therefore, the recommended level for this airdrop event is A+, which is the highest level that must be taken.