According to data from DeFiLlama, the total value locked (TVL) of B² Network’s bridge has surpassed $170 million, with steady daily growth sometimes exceeding 20%. This significant growth is primarily due to the number of people transferring Bitcoin to the network to stake, aiming to receive the B2 Token airdrop, as announced by the project for those who stake Bitcoin on their network.
Many projects within the Bitcoin ecosystem also employ this strategy to attract users to stake Bitcoin for a chance to receive airdrops. For instance, Merlin Chain, a pioneering project, allocated 20% of its total supply to those staking Bitcoin, establishing its credibility and achieving a TVL bridge of up to $1.35 billion.
The mechanism of B² Network is similar; the more Bitcoin users stake, the more Points they earn, which can be converted into B2 tokens at the time of TGE in the future.
Related: What is B² Network? Information about B2 Token
Introduction to B² Network
B² Network, or Bsquared Network, is a Layer 2 solution for Bitcoin aimed at increasing transaction speed and expanding the diversity of applications while ensuring security. This network leverages advanced blockchain technologies, such as the ability to run Turing-complete smart contracts for off-chain transactions, enhancing transaction efficiency and reducing costs. The zero-knowledge proof technology, combined with gate commitment and challenge-response mechanisms of Taproot, ensures privacy and security when confirming transactions on Bitcoin.
