Chill Guy is a viral meme illustration that took social media by storm before a crypto project used the meme to launch a Solana-based token. Learn more here.

What started as a simple illustration of a laid-back dog has become a global meme sensation, with the cartoon character known as Chill Guy dominating both social media trends and cryptocurrency markets. Created by artist Phillip Banks in October 2023, the easygoing canine character sparked a viral movement that has attracted major brands worldwide.

This article follows Chill Guy’s transformation from a social media sensation to a cryptocurrency asset. We'll examine its viral beginnings, community growth, market impact and what potential investors can expect from CHILLGUY in the future.

 is a viral meme illustration by artist Phillip Banks, depicting a laid-back dog in casual clothes whose easygoing attitude took social media by storm before a crypto project used the meme to launch Just a Chill Guy as a Solana-based token.

What Does Just a Chill Guy Aim to Achieve?

The CHILLGUY meme coin aims to spread a "Why worry?" philosophy into cryptocurrency markets by embracing the laid-back, stress-free attitude that made the original meme go viral. The project transforms this easygoing vibe into a community-driven token, where being low-key isn't just a catchphrase — it's a shared mindset among holders.

The CHILLGUY community brings this philosophy to life by sharing endless variations of the CHILLGUY meme across social platforms. Through market swings and viral trends, CHILLGUY keeps his iconic pose: hands in pockets, subtle smirk, perpetually relaxed.

Just a Chill Guy (CHILLGUY) operates as a Solana Program Library (SPL) token on the 

 blockchain, leveraging the network's ultrafast speeds and low costs to ensure smooth trading. The token was created using Pump.fun, a specialized platform that lets users launch Solana-based tokens without any fees, removing traditional barriers to token creation.

CHILLGUY is a community takeover (CTO), meaning it's completely owned and directed by its token holders with no central team in control. This decentralized structure ensures the project stays true to its community-driven nature, its holders collectively guiding its future while embodying the laid-back spirit of the original meme.

The CHILLGUY token launched with a maximum supply of 1 billion tokens, of which 999,965,435 are currently in circulation. This near-complete distribution of tokens to the market supports active trading and community participation.

What makes CHILLGUY's tokenomics particularly notable is its widespread distribution across more than 142,000 unique holders (as of Nov 27, 2024), achieved in just 12 days. This rapid expansion of its holder base demonstrates strong community adoption and aligns with the project's decentralized, community-driven principles.

CHILLGUY has exploded across social media, especially on TikTok, where the meme has amassed hundreds of millions of views. Its laid-back character resonates with users worldwide, inspiring countless creative adaptations.

Major brands worldwide have embraced CHILLGUY in their marketing campaigns. From Sprite Europe to NFL on CBS, the character has resonated across mainstream media, even catching the attention of global figures like El Salvador's president Nayib Bukele.

The “Chill Guy” meme’s influence spans multiple social media platforms, with a growing community of followers: 96.6K on X (

). On the other hand, the meme token itself also has a vast community, with 39.9K on X (

) and an active Telegram channel of over 15,000 members. These numbers reflect the meme's ability to engage audiences across different platforms.

The token's popularity in cryptocurrency markets matches its social media success, with CHILLGUY maintaining a substantial 24-hour trading volume of over $330.03M as of Nov 27, 2024. This high trading activity demonstrates the strong market interest in CHILLGUY beyond its meme status.

Looking to trade Just a Chill Guy tokens? Bybit now offers the CHILLGUY/USDT Spot trading pair and CHILLGUYUSDT Perpetual contract. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the 

While CHILLGUY has maintained strong trading volumes and continues gaining mainstream attention through its viral social media presence, investors should carefully weigh its strengths and risk factors before making investment decisions.

With its widespread brand adoption, sustained trading activity and explosive community growth of over 142,000 holders, CHILLGUY demonstrates significant market potential. However, meme coins are inherently volatile. Potential investors should 

 and invest no more than they can afford to lose.

CHILLGUY is the latest viral sensation to harness the power of the attention economy to convert social media momentum into crypto market success. While CHILLGUY has already demonstrated its ability to capture mass appeal, its position as a leading meme token will depend upon how effectively it maintains its cultural relevance and community engagement in this fast-moving market.

Intermediate

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Just a Chill Guy (CHILLGUY): Embracing the Art of Nonchalance

Zircuit (ZRC) combines optimistic and ZK rollups with AI-driven security, offering fast, low-cost Ethereum Layer 2 solutions. 

 network has flourished, mainly due to the ongoing network congestion, high fees and poor scalability of the latter. Many of these platforms use rollup technology, whereby batches of multiple transactions processed off-chain are bundled together and posted in bulk to the underlying Layer 1. Ethereum-linked rollups mainly come in two varieties 

 (ZK). While optimistic rollups boast lower computational overhead, the ZK variety of these networks features a higher degree of security.

Zircuit (ZRC) is a Layer 2 chain that adopts a hybrid approach, combining the elements of optimistic and 

. This lets the platform offer the performance benefits of optimistic technology along with the security of ZK validity proofs. To further enhance overall security, Zircuit uses a unique 

 (AI)–driven system of monitoring for malicious transactions.

 (ZRC) is a hybrid Layer 2 blockchain that combines the features of optimistic and ZK rollups, and uses AI-driven monitoring for potentially harmful transactions. 

 rollup development technology, a popular framework for building optimistic rollup networks. Additionally, it uses zero-knowledge proofs, which lets the platform offer the best of both worlds 

 the performance benefits of optimistic rollups and the security of ZK technology. Zircuit is 

The Zircuit project takes security very seriously, and has introduced a unique system of AI-based protection against malicious transactions at the sequencer node level. The use of ZK proofs and an AI-based protection system make Zircuit one of the most secure platforms in the competitive world of Ethereum Layer 2 chains.

Along with its excellent security benefits, Zircuit also boasts low costs, fast transactions, excellent scalability and 2-second block production intervals. All these features make it an ideal environment for 

 (DApps) in various niches, particularly 

 (DeFi). In fact, the leading protocols within the Zircuit ecosystem are all dedicated to the finance niche, with Zircuit Staking being the largest application by TVL.

With its heavy focus on DeFi, Zircuit aims to become a leading liquidity hub for various token types within the sector, including 

. These assets can be staked through the Zircuit staking program — supported by the platform's Liquidity Hub — to earn staking APRs, airdrop rewards and points based on the Zircuit Point program (covered further in our article).

The platform also operates a secure native bridging solution, 

, to help users transfer assets between its Layer 2 network and Ethereum Layer 1.

The company behind the project, Zircuit Ltd., was founded in 2021 in Canada by Dr. Martin Derka, Jan Gorzny and Angel Xu. Zircuit's testnet was launched in November 2023, but made headlines in April 2024 when the project reported that its 

 (TVL) had soared past $2 billion. While testnet TVLs are more a gauge of future potential for a blockchain than an indicator of its existing worth, the news attracted the attention of industry observers toward the platform. Following its highly publicized testnet success, Zircuit launched the first phase of its mainnet in August 2024. This was followed by the launch of the platform's native token, ZRC, in November 2024.

As a typical rollup, Zircuit uses an off-chain sequencer node to batch and organize Layer 2 transactions for subsequent posting to the underlying Ethereum Layer 1. The batches have ZK validity proofs attached to them to signal to Layer 1 validators that they’re free from fraudulent transactions. Zircuit's architecture also includes prover nodes, whose job is to produce these validity proofs.

However, unlike other rollups using ZK proofs (also known as validity proofs), Zircuit doesn't generate validity proofs for every block of transactions. Instead, some blocks have pre-generated template proofs, while others go through the process of having a dedicated validity proof created for them. After a few blocks featuring validity proofs, there are several more that utilize template proofs. The image below illustrates this approach.

The key reason Zircuit has adopted this form of proof design is that the process of generating ZK proofs is computationally intensive. By using template proofs for some of the blocks in a sequence, Zircuit can reduce the overall computational overhead. However, the project’s team has stated that the template proof model is temporary, and will be phased out in the future. At that stage, the platform will move to generating ZK proofs for each block.

Zircuit features a highly modular design whereby provers — responsible for generating validity proofs on the platform — can easily be plugged into or removed from the network. This modular approach is distinct from the standard ZK rollup design, in which provers are more tightly and less flexibly integrated into the overall architecture.

As noted earlier, Zircuit uses a dedicated sequencer to organize and batch transactions into blocks. The platform also applies AI-driven monitoring at the sequencer level (the Sequencer Level Security, or SLS) to spot and exclude fraudulent transactions before they’re finalized on Layer 2.

When transactions are first posted to Zircuit, they enter the 

 — a temporary area from which the sequencer picks and organizes individual transactions into blocks. The mempool is being monitored at all times, using AI algorithms to identify suspicious transactions. If a transaction in the mempool raises a flag, it's quarantined and assessed for validity before the sequencer can include it in a block. The image below shows how this process works.

One of the distinct features of Zircuit is its hybrid architecture, which combines the properties of optimistic and ZK rollups. At the base level, Zircuit is built using Optimism's Bedrock development framework, a technology popular for optimistic rollup networks. However, the use of ZK proofs — or, to be more precise, a combination of validity proofs and template proofs — ensures that Zircuit enjoys a security level that standard optimistic rollups normally can't match.

The use of AI-based SLS provides robust security to Zircuit, complementing the already highly secure ZK proof system. Very few Layer 2 networks in the industry currently feature anything similar, making the platform a true pioneer of AI use for sequencer-level operations.

Like any rollup based on Optimism Bedrock, Zircuit enjoys EVM compatibility. This allows for smooth interoperability with the underlying Ethereum Layer 1. EVM compatibility also makes it easy for developers familiar with Ethereum’s environment to develop Zircuit-based DApps, or to port existing Ethereum applications to the platform. Developers can take advantage of technologies commonly used for Ethereum (e.g., the Solidity programming language and the Hardhat development framework) to build Zircuit applications and smart contracts.

Zircuit Bridge is a native bridging solution designed to easily transfer tokens between Ethereum and Zircuit. It boasts high security, low transaction fees and fast transfers, and allows users to move a variety of cryptocurrencies between Ethereum and Zircuit, including ETH, 

) and LRTs like Super Symbiotic LRT (weETHs). As of late November 2024, the total number of cryptos supported by the bridge is close to 30.

Zircuit has launched a reward program called Zircuit Points. Users can earn these Points by staking supported assets, and by participating in the Build to Earn initiative (more on this below). Accumulated points will be converted to ZRC tokens in the future. Points also create the opportunity to qualify for token airdrops.

The primary way for most users to earn Zircuit points is via 

. The Zircuit Staking program lets you stake LSTs, LRTs, popular stablecoins, some wrapped tokens and Ether (ETH) to earn points. Using LSTs and LRTs, you can earn yields (along with native Zircuit staking APRs and Points) from the respective staking and restaking platforms that issue these assets.

Zircuit Points earned via staking have different multipliers, depending upon the asset. For example, Ether has a multiplier of 0.5, while LSTs, LRTs and stablecoins have a multiplier of 1. Multipliers for different LST and LRT assets may be subject to change in the future.

Build to Earn is another way to qualify for Zircuit Points. The program allows developers to contribute to the Zircuit ecosystem and earn Points in a number of ways, including:

Launched in November 2024, ZRC is the platform's native cryptocurrency. It's an 

 asset deployed on both Zircuit and Ethereum Layer 1. ZRC is mainly used for reward distributions, and participation in token airdrops for ecosystem DApps. Currently, transaction fees on the network are paid in Ether. It's possible that, in the future, ZRC might be used for some transaction fee payments.

ZRC is also used for rewards under the Gas Rebate program. As users conduct transactions on the platform, they 

. Zircuit’s Gas Rebate program provides rebates to offset some of the incurred fees. The amount of ZRC earned as a rebate is proportional to the amount spent on gas in ETH; the project's documentation states that for each ETH spent on gas, the user earns 125% in ZRC. All kinds of gas fee payments qualify for the rebate, including ordinary asset transfers and transactions involving interaction with Zircuit DApps.

ZRC is a supply-capped token, with a maximum and total supply of 10 billion. The token's supply allocation shares are as follows:

The ZRC token is available on Bybit's Spot market as a swap pair with USDT (

 to grab a share of the 5 million ZRC prize pool. New users who sign up for a Bybit account and complete identity verification can earn ZRC rewards by accumulating a deposit volume of at least 2,000 ZRC, or by depositing 100 USDT and trading 100 USDT worth of ZRC via their first trade with Bybit. 

Meanwhile, existing users can qualify for ZRC rewards by trading at least 500 USDT worth of ZRC on the Bybit Spot market, with the possibility of earning up to 10,000 ZRC based on trading volume. The 

 event will run through Dec 10, 2024, 8:59AM UTC.

Zircuit is among the pioneering Layer 2 platforms to adopt a hybrid design for a rollup network. Thanks to the platform's architecture, users can take advantage of low transaction costs, fast transfers and great scalability while enjoying the benefits of high security delivered by ZK proofs and AI-driven mempool monitoring. AI-based monitoring for fraudulent transactions is a particularly notable feature of the platform and is undoubtedly among the most advanced technologies employed in the blockchain industry.

User security combined with faster and cheaper transactions for the Ethereum network — all in one package — is now feasible, thanks to Zircuit's innovative technology and unique approach!

Advanced

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What Is Zircuit (ZRC): Where Performance Meets Cutting-Edge Security

Bybit is celebrating its sixth anniversary with the #Super6Bybit event, offering a $1.2 million prize pool and focusing on its bbSOL token.

Daily Top Performer — Virtuals Protocol (VIRTUAL)

On Wednesday, the S&P 500 fell 0.38% as tech stocks dropped and inflation data reinforced a hawkish Fed outlook. Coindesk Indices, an index measuring broader cryptocurrency market performance was down by 0.40%, with Bitcoin and Ether dropping by 1.86% and 1.79%, respectively in the past 24 hours.

Today's top performer is VIRTUAL, which surged 53.6% following the launch of the $MUSIC token by Agentstarter, featuring AI-driven music video capabilities and community-focused tokenomics.

Virtuals Protocol (VIRTUAL), founded in 2021, allows users to invest in and co-own AI-driven virtual assets like companions and influencers. Its model fosters community ownership, transforming AI agents into revenue-generating assets across platforms like Roblox and TikTok. The platform attracts contributors from AI and gaming to drive innovation in virtual economies. 

, using AI to create music videos and offering features like animated videos, voice mimicry, and karaoke tracks. The tokenomics allocate 60% for airdrops, 20% for liquidity, and 10% each for the development team and Virtuals Protocol.

Check Out the Latest Prices, Charts, and Data of 

Bybit is celebrating its sixth anniversary with the 

, offering a $1.2 million prize pool and focusing on its bbSOL token. Launched in September 2024, bbSOL is the first exchange-backed Liquid Staking Token on Solana, providing liquidity and staking rewards. The campaign, running from November 28, 2024, to January 6, 2025, invites participants to build, transform, and supercharge their bbSOL through tasks, leaderboards, and community milestones, increasing rewards. The event combines gaming mechanics, community engagement, and opportunities to win prizes while promoting innovation and growth in the crypto space.

Yesterday, there were no flows in BTC Spot ETFs, including GBTC and non-GBTC categories.

. Stake BNB on Lista's portal to get slisBNB, then deposit it into Astherus to earn airdrop points with multipliers (3X for Lista, 1.15X for Astherus). No lockup is required, and slisBNB is the most efficient option.

Beginner

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Bybit Celebrates 6th Anniversary with $1.2M Prize Pool and bbSOL Supercharging Campaign

Our weekly crypto derivatives analytics report delves into macro events, the current state of crypto and trading signals from spot trading volume, and futures, options and perpetual contracts.

ETH has outperformed, bolstered by SEC Chair Gary Gensler's announcement of his Jan 20, 2025 departure, and suggested by growing open interest in ETH perpetual. This positive momentum extends to several large-cap altcoins previously scrutinized by the SEC, as indicated by bullish funding rates for long positions.

Please check out the report’s highlights.

ETH Open Interest Grows While BTC’s Declines

ETH is outperforming BTC following the announcement of SEC Chair Gary Gensler’s departure, as evidenced in perpetual swap markets. BTC open interest has decreased from last week's highs, while ETH contracts have increased. Additionally, ETH trade volumes constitute a larger share of daily trading as compared to much of the past six months, despite an overall dip in trade volumes this week. The gradual decline in BTC open interest, without a surge in trading activity, indicates a strategic repositioning, rather than a wave of liquidations.

BTC Option Curve Inversion Deepens as Price Retreats

The pullback in the spot BTC price from the $100K target has led to a flat ATM volatility term structure, with short-tenor options dropping below 60%. 

This trend continues the correlation between term structure inversion and BTC spot price returns observed since the U.S. election on November 5, 2024

. The decline in front-end volatility aligns with lower realized volatility levels. While demand for short-tenor options has moderated, there hasn't been a notable change in open interest for calls or puts. Instead, their growth has stalled at the week's start.

Sentiment in ETH options markets seems moderately more bullish than in BTC's during the recent decline in momentum from the post-election rally. Call options lead in both trading volumes and open interest. 

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Bybit X Block Scholes Crypto Derivatives Analytics Report (Nov 27, 2024): Signal on ETH Outperformance Against BTC Surfaces on Long-Term Contracts

Bybit Learn

Bitcoin

Bitlayer is a Layer 2 network supporting smart contracts and DApps on Bitcoin, powered by the innovative BitVM computational engine.

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 (DeFi) ecosystem, known as BTCFi, is proliferating despite the lack of native 

 blockchain. A variety of technologies are being used to work around this limitation and bring DeFi and other decentralized solutions to the Bitcoin ecosystem. One of the key ways to enable such functionality for the Bitcoin environment is via the use of computational engines, or virtual machines (VMs), that are capable of executing smart contracts. Additionally, some 

Bitlayer is a decentralized platform that has adopted both of these approaches — the use of relevant smart VMs and Layer 2 processing — to bring DApp functionality to the Bitcoin blockchain. Based on the Turing-complete BitVM engine for Bitcoin and utilizing the efficient off-chain processing of transactions, Bitlayer is an audacious new drive to turn Bitcoin into a DApp powerhouse. Moreover, Bitlayer features support for multiple VMs, including the enormously popular 

Thanks to Bitlayer, complex smart contracts and sophisticated BTCFi apps are no longer an oddity within the Bitcoin ecosystem.

, a Layer 2 smart contract–capable solution for Bitcoin, is among the most recent notable endeavors to bring DApp functionality to the world's largest blockchain. 

 processing engine, which we'll take a minute to introduce before delving into the specifics of the Bitlayer project itself.

BitVM was proposed and introduced by Bitcoin developer Robin Linus in late 2023. It's an add-on processing engine for Bitcoin, capable of supporting Turing-complete computations and programming languages. Turing-complete programming languages can process computations of any degree of complexity as long as the computational task is theoretically solvable. In a practical sense, Turing-completeness allows the development of complex programming logic to support sophisticated DApps.

BitVM is among the pioneering VM technologies aimed at enabling smart functionality on Bitcoin. For a few months following Linus's introduction, BitVM remained a theoretical concept on paper, without any significant projects leveraging it. This all changed in April 2024, with the launch of Bitlayer's 

Bitlayer is the first major project to implement BitVM technology. The Bitlayer platform acts conceptually similar to an optimistic rollup network, a popular 

 solution. BitVM is Bitlayer's main processing engine, allowing the network to support smart contracts. Additionally, thanks to its Turing-completeness, Bitlayer supports multiple other VMs, including EVM, SolVM, Cairo VM and MoveVM.

The support for EVM is critical, due to the prevalence of this computational engine in the blockchain industry. Thanks to its 100% EVM-compatible nature, Bitlayer can efficiently integrate solutions initially designed for Ethereum and its vast network of DApps.

As a rollup-like Layer 2 solution, Bitlayer processes and batches transactions off-chain, reducing the load on Bitcoin's underlying Layer 1 chain. The Bitlayer network boasts excellent scalability, speed and cost of transacting as compared to direct transfers using the underlying Bitcoin network. Block confirmation times on Bitlayer are only three seconds, while median gas fees as of Aug 25, 2024 are around 10 cents. This is in contrast to Bitcoin's own 10-minute block processing times and recent gas fees of around $0.50 to $1.

Among the most innovative technologies implemented by Bitlayer is the discreet log contract (DLC) contract execution framework. DLC allows two transacting parties to design pre-agreed conditions for contract execution, and then have a mediating 

 entity sign off on the overall agreement. The parties can then transact (for instance, exchanging payments based on the chain of signed-off conditions). 

Compared to the standard ways of exchanging payments on Bitcoin via Layer 2 solutions, such as using the 

 platform, DLC offers the ability to design and scale complex and private payment agreements while reducing the risk of counterparty fraud.

Transactions on the Bitlayer platform are processed off-chain, and then collated and organized by a Sequencer node for further verification. A Sequencer is typically used to order transaction batches in rollup solutions. Bitlayer uses a Layered Virtual Machine (LVM) to process transactions that are compatible with different VMs.

Transactions collated by the Sequencer are then verified via the interaction of two key entities — the Prover and the Challenger. Earlier, we noted that Bitlayer is based on optimistic rollup technology. However, there are also elements of

 (ZK) proof technology used to verify transactions on the platform. The Prover submits transactions from Layer 2 to Layer 1, and produces ZK proofs for these transactions if challenged with regard to any of them. The role of the Challenger is to monitor transactions and raise fraud proofs if a malicious or incorrect transaction is detected. This is when the ZK proof submitted by the Prover is used to address the challenge and confirm transaction validity.

Thus, while the actual transactions are backed by ZK proofs, the process of challenging their validity is inherently optimistic in nature — that is, a transaction is assumed to be valid unless a Challenger steps in and questions its validity. A system of monetary penalties and rewards is in place to ensure that the Prover and the Challenger exhibit correct and fair behavior on the network. For instance, the Prover needs to pledge a certain amount of BTC in order to participate in the processing activity. If a Prover’s ZK proof is successfully challenged, they risk losing their pledged funds.

Bitlayer's LVM provides EVM support to execute smart contracts and generate the latest states and zero-knowledge proofs in Bitlayer. It’s fully compatible with EVM and Solidity, the default programming language for Ethereum DApps. LVM is the component designed to ensure that programming code generated in Solidity can be adapted and interpreted by the Bitlayer processing environment. According to the project's documentation as of late August 2024, LVM supports Solidity up to version 0.8.25, released in March 2024. The project team has announced that in the future, Bitlayer aims to implement support for later versions.

The Sequencer node is a key network actor on Bitlayer, and is primarily responsible for collating, organizing and submitting transactions in batches for further processing by the Prover and the Challenger. Bitlayer's Sequencers ensure that transaction batching is optimized in order to closely maintain the platform's impressive three-second block time.

 is the component of the platform responsible for the secure and efficient transfer of assets between Layer 2, Bitlayer and Layer 1, Bitcoin. The 

 uses the DLC contract model described earlier to ensure the smooth movement of crypto assets between the ecosystem's layers.

Bitlayer is capable of smart contract execution at the Layer 2 level, thanks to BitVM and LVM, with the latter capable of accommodating EVM-compatible computations. The ability to process smart contract code on Layer 2 lessens the load placed by the transactions on the underlying Bitcoin layer. The Turing-complete nature of the platform and its EVM compatibility mean that DApps of virtually any complexity can be handled by the Layer 2 network. Bitlayer’s platform already accommodates DApps in areas such as DeFi/BTCFi, Gaming, Infrastructure and more.

Bitlayer's Asset Bridge can be used for cross-chain transactions. This bridging technology relies on the BitVM engine and Bitlayer's own implementation of the DLC automated contract model — Optimistic-DLC (OP-DLC). Earlier, we noted that the DLC framework relies on oracles to sign off on pre-agreed transactions between parties. With OP-DLC, the function of oracles is carried out by the nodes of the BitVM Federation — a network of nodes overseeing the transactional activity on Layer 2.

Bitlayer enjoys the underlying security and decentralization benefits provided by Bitcoin. The Bitcoin blockchain is among the most secure in the crypto industry, with some observers considering it to be absolutely the most secure decentralized network. Arguably, Bitcoin's block validation model, 

 (PoW), is generally considered more secure than the 

 (PoS) model used by Ethereum and the majority of other smart contract blockchains.

Besides its highly secure block validation method, Bitcoin also boasts one of the largest networks of mining nodes, making it a highly decentralized environment. As of Jul 20, 2024, there are over 1 million Bitcoin miners on the network. The highly decentralized nature of Bitcoin also contributes to its exemplary security profile.

As such, Bitlayer benefits from the combination of its ability to process complex smart contracts and the security features of its underlying Layer 1 platform — the Bitcoin chain.

You can explore the ecosystem of Bitlayer DApps using its 

 portal, which allows you to browse available apps by categories such as DeFi, Launchpad, Gaming/NFT, Infrastructure and more. There are more than 100 apps already supported by the platform, with Bitlayer's Leaderboard ranking them according to their 

 (TVL), transactions and popularity level.

Bitlayer runs a Leaderboard competition that rewards ecosystem projects with Bitlayer Gems, virtual points that will be converted to the platform's planned native token, BTR, upon its future token generation event (TGE). Projects are rewarded with Gems based on their level of achievement in four areas — the number of effective transactions, effective user addresses on the network, TVL and popularity votes on the Leaderboard.

Bitlayer has partnered with Meson Bridge to facilitate the easy transfer of three popular assets — USDT, USDC and ETH — from Ethereum to the Bitlayer Mainnet. Meson’s bridging solution specializes in stablecoin transfers. Using the

 section on Bitlayer's homepage, you can access the bridge and quickly transfer any of the three supported assets to Bitlayer.

While 100% EVM-compatible, Bitlayer has several significant differences that distinguish it from Ethereum. Some of these differences might convince crypto users, developers and operators to choose the platform over the world's largest smart contract chain. Below are the key differences between the two blockchain environments:

The first projects aiming to bring smart contract functionality to Bitcoin were initiated back in 2018. However, the Bitcoin community is still awaiting the groundbreaking solution that would put the world's largest blockchain on equal footing with Ethereum in the DApp competition. With its EVM compatibility, Turing-completeness, three-second block time and gas fees vastly lower than Ethereum's, Bitlayer might eventually turn out to be that groundbreaking innovation the community is eager to see. 

Having launched its Mainnet in April 2024, the Bitlayer project is still at the beginning of its journey. The platform's fundamentals look stellar. Only time will tell if Bitlayer is the catalyst to ignite the exodus of DApps from Ethereum to Bitcoin.

What Is Bitlayer? Enhancing Bitcoin With the Power of BitVM

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