BL2: A Sustainable BTC L2 Platform Established on Bitcoin Security Consensus

What is BL2?

BL2 is a sustainable BTC Layer2 platform initiated by a group of BTC core developers and early members. It is built on the security foundation of BTC, establishing a dApp and smart contract platform to unlock the value of BTC assets, ultimately creating a more vibrant BTC L2 ecosystem.

Why was it created?

The popularity of Inscription and BRC-20, along with the congestion they cause, has sparked significant controversy and disagreement. The Bitcoin network is facing challenges in scalability and efficiency. BL2 aims to provide a more efficient and sustainable scaling solution from the contract layer for the Bitcoin network, creating a better “home” for innovations like Inscription and BRC-20.

Core architecture

Establishing an independent Bitcoin block header information verification and consensus framework to maintain Bitcoin network security while avoiding congestion caused by the contract layer on the main network.

Uniqueness

1. Balancing Bitcoin security and scalability.
2. Introducing smart contract capabilities to the Bitcoin network compared to LN.
3. High efficiency, low cost, and sustainable development.
4. Support for Inscription chain backups.
5. User and developer-friendly.

Core Features

1. Bitcoin smart contracts
2. Inscription backup system
3. Bitcoin DeFi
4. Support cross-chain inscription management
5. General BIP algorithm
6. VM universal protocol

Tokenomics

Token: $BL2T (BRC-20), limited to 21,000,000 coins.

Scenario: BTC network L2 governance token with 20% fixed gas burning.

Distribution:

50%: IDO — Fair launch for early participants.

5%: SWAP Liquidity Enhancement - After the mainnet launch, establish a BTC L2 trading SWAP and create the initial liquidity pool for $BL2T.

5%: User Trading Incentives — Users participating in the mainnet SWAP will share a portion of the product proportion based on their transaction volume (incentivizing buying behavior across the entire coin pair).

5%: Marketing Expenses — Used for KOL collaborations, advertising, marketing reward activities, and market promotion activities.

5%: Team — Allocated for expanding the development team, unlocked after 3 months post-launch, released linearly over 12 months.

10%: Node Rewards — Based on the DPOS consensus mechanism of the BTC L2 product, validator nodes stake to produce rewards.

20%: OG Mining Plan — According to users' trading levels in the SWAP on the BTC L2 network, higher-level users are allowed to join the OG plan, obtaining higher APR mining rewards by burning $BL2T.

【RoadMap】

Jan 2024

• Establish Tokenomics.
• Fair Launch.

Q1 2024

• Testnet Launch.
• Launch of Testnet Ecosystem Incentive Program.

Q2 2024

• Mainnet Launch, Genesis Block Output.
• Launch of Developer Platform.
• Ecosystem Incentive Program 2.0 Launch.

Q2-Q3 2024

• Listing on Major Global Trading Platforms.