Bitlayer Launches Ready Player One Initiative

Bitlayer Launches Ready Player One Initiative

Bitlayer Launches Ready Player One Initiative

Bitlayer, a Layer 2 proposal for Bitcoin, announces the launch of its Ready Player One initiative to support ecosystem projects.

The Layer 2 proposal for Bitcoin In advance of the upcoming mainnet launch, Bitlayer declared the start of the Ready Player One initiative. This is the inaugural effort of the “Ready Player” ecosystem incentive program, which aims to assist ecosystem projects running on the Bitlayer main network.

The statement states that teams who sign up and work to develop the Bitlayer ecosystem will receive token rewards commensurate with the amount of work they do. Over $50 million worth of awards are available for the event’s initial phase. Starting today, registration for Ready Player One will be available through April 29.

In partnership with the Bitlayer team, Ready Player One encourages project teams to investigate efficient ways to use token rewards in order to attain wider user acceptance. In addition to providing developers with incentives, they will also provide builders with possible investment options, liquidity support, and payment for resources used in product creation, among other advantages.

Projects working in the disciplines of DeFi, Infrastructure, NFTs, Decentralized Identity and Privacy, GameFi, and SocialFi are the core focus of the program.

Bitlayer Raises $5 Million in Seed Funding to Support Ready Player One and Enable Mainnet Launch 

Based on the BitVM paradigm, Bitlayer functions as a Layer 2 protocol that guarantees Turing-completeness and security comparable to that of Bitcoin. The project focuses on trustless asset entrance and exit from Layer 1, state transitions supported by a virtual machine that is Turing-complete in Layer 2, and Layer 1 validating Layer 2 state transitions.

It brings faster transaction processing, secure asset bridging, interoperability with the Ethereum Virtual Machine (EVM), and state transitions to the Bitcoin ecosystem. It also makes the ecosystem more scalable. 

Framework Ventures and ABCDE Capital led a $5 million seed investment round for Bitlayer, with additional contributions from angel investors. We will use the money to support the Ready Player One initiative and facilitate the mainnet launch, scheduled for April 5.

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