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Cardiff, , April 4, 2024, Chainwire According to Binance Web3 official announcement, Binance Web3 Wallet has officially launched a joint airdrop event with the BTC Layer2 project BEVM. Users who complete three simple tasks on BEVM through Binance Web3 Wallet will receive an exclusive airdrop of BEVM tokens. BEVM will allocate 10,500,000 (0.5%) BEVM for the airdrop to Binance Wallet users participating in this event. This is the first collaboration between Binance Web3 wallet and Bitcoin Layer2.

BEVM is an EVM-compatible Bitcoin layer2 based on Taproot Consensus and uses BTC as gas, enabling fully decentralized BTC cross-chain and allowing BTC to be introduced into a broader range of applications in a trustless manner. BEVM recently announced the completion of its ten-million dollar funding round, with investments from nearly 20 institutions, including Rocktree Capital, Waterdrip Capital, Arkstream Capital, ViaBTC Capital, MH Venture, and Mapleblock. BEVM officially launched its mainnet on March 28, and in just one week, the mainnet has garnered over 600,000 user addresses.

BEVM is the first EVM-compatible Bitcoin L2 built on Taproot Consensus and uses BTC as Gas.

Based on Musig + Bitcoin SPVs, Taproot Consensus is the final result of the BEVM teams six years of exploring Bitcoin Layer2 solutions.

BEVM has two narratives; the first is "BEVM-Stack (#BTClayer2 as a service), which can help developers launch #BTClayer2 with one click. Secondly, BEVM will develop DBFX(Decentralized Bitcoin Foreign Exchange) protocol to seamlessly bridge native BTC into any Defi protocol on any Chain. BEVM's ultimate goal is to bring 10% of BTC into the Layer2 network, expanding BTC's application scenarios to enable real circulation of BTC.

On March 25, 2024, BEVM announced the completion of a $10 million funding round, with a post-investment valuation of up to $200 million. The funding round involved approximately 20 investors, predominantly from Europe and the United States.

Among these investors, RockTree Capital stands out as a prominent and seasoned crypto investment institution based in the United States. Founded by Omer Ozden, who also serves as an international partner at ZhenFund Global Ventures, RockTree Capital boasts significant influence in the financial circles of China and the United States. Omer Ozden has previously served as a legal advisor for Facebook (now Meta) and was a member of the United States Congress. RockTree Capital has a strong track record of investing in and incubating numerous renowned crypto projects, including Chainlink, Tron, dYdX, Fantom, and Casper, among others.

In addition to RockTree Capital, other notable investors in the BEVM project include MH Ventures, which has invested in well-known projects like Celestia, Sei Network, and Linera; Mapleblock, known for its investments in Polyhedra, DAO maker, Kraken, and Huobi; and Arkstream Capital, which has invested in projects such as AAVE, Flow, Manta, and Particle.

Waterdrip Capital and Satoshi Labs have also participated in the investment, as well as Viabtc Capital, one of the world's top three Bitcoin mining pools.

In the current market, BTC Layer 2 technology solutions can be broadly categorized into five types: Bitcoin sidechains, UTXO + client verification, Taproot Consensus, multi-signature + EVM, and Roullp.

BEVM adopts the Taproot Consensus technology, which was proposed and implemented by the BEVM team and serves as a typical use case for Taproot Consensus.

Taproot Consensus is a layer2 solution built on the three major native Bitcoin technologies. It has gradually matured since the Bitcoin Taproot upgrade in 2021. The essence of Taproot Consensus lies in Schnorr Signature + MAST Contract + Bitcoin Light Node Network.

Schnorr Signature enables Bitcoin multi-signature custodians to expand to 1,000, achieving decentralization of custodians. MAST Contract implements code-based management of aggregating signatures, relying on code rather than manual signature. The Bitcoin Light Node Network achieves decentralized Bitcoin cross-chain transactions and management through consensus driven by Bitcoin SPVs.

On March 28, 2024, BEVM's mainnet, based on Taproot Consensus, officially launched, reaching over 600,000 user addresses within a week. It is currently one of the most implemented Bitcoin Layer2 solutions.

In summary, compared to other BTC L2 technological solutions on the market, BEVM boasts unparalleled advantages in terms of the native nature of Bitcoin technology, decentralization, and the level of implementation.

On April 4, BEVM announced a joint airdrop campaign with Binance Wallet, offering airdrops for completing any of the three specified on-chain activities. BEVM has allocated 0.5% of its total token supply for this airdrop. It is also Binance Wallets first airdrop event in collaboration with a Bitcoin Layer2.

To participate in the event, users need to access the Binance Web3 Wallet and visit https://binance-campaign.bevm.io. There are three tasks included in the campaign, bridging BTC to BEVM, creating a position in Satoshi Protocol and daily check-in on BEVM.

User Participation Tutorial:

Step 1: Access and Set Up Binance Web3 Wallet

First, ensure you have a Binance account. If not, you will need to create one.

Then, download and install the Binance Web3 Wallet. This can be found on Binance's official website.

After completing the installation, follow the instructions to set up your wallet.

Step 2: Participate in the Event

Access the event page using the Binance Web3 Wallet.

Complete the three tasks required by the event:

Bridge BTC to BEVM: Follow the instructions on the page to bridge your BTC from the main chain to the BEVM chain.

Create a Position in Satoshi Protocol: Navigate to Satoshi Protocol and create a new position.

Daily Check-in: Visit the BEVM page every day to check in.

More Help and Tutorials:

Users can watch this tutorial video to understand the detailed steps for participation.

Users can also read the post on the BEVM blog for more information about the 10,500,000 BEVM airdrop campaign.

BEVM introduces a groundbreaking EVM-compatible Bitcoin Layer 2 solution, utilizing BTC as gas for transactions. This fully decentralized platform bridges the gap between the Bitcoin and Ethereum ecosystems, allowing DApps to operate seamlessly on Bitcoin Layer 2. It features innovative cross-chain interaction, data integrity assurance, decentralized processing, and a robust consensus mechanism for enhanced scalability and security. BEVM aims to fuel innovation in the Bitcoin ecosystem through EVM compatibility, a fully decentralized architecture, and an innovative incentive model. For more information, visit their website at bevm.io.

For more information about BEVM: Official Website | Twitter | Discord | Blog | Github

BEVM Team

marketing@bevm.io

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Binance Wallet and BTC L2 project BEVM launch an exclusive airdrop - Cointelegraph

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Crypto's Cute New Chapter Koala Coin (KLC) Leads Ethereum (ETH) and Binance Coin (BNB) Buffs on a 120X Odyssey - Analytics Insight

Spot trading volume on the Binance exchange hit its highest level since May 2021 afte seven consecutive months of ascent, according to a new report from CCData.

According to an April 5 report by cryptocurrency analytics platform CCData, Binances spot trading volume increased by 121% to $1.12 trillion in March

The report said the combined market share of the exchange also increased by 1.04% to 44.1% in March.

CCData highlights Binances recovery after settling its case with the United States Department of Justice and paying a $4.3 billion settlement fine. This is evidenced in its derivatives trading volumes, which have risen by 89.7% to $2.91 trillion, also achieving their highest levels since May 2021.

CCData analysts also noted that Binance made the largest gain in spot markets, increasing its market dominance by 2.3% compared with February. The exchange also saw the biggest gains year-to-date, now accounting for 38.0% of the spot trading volumes on centralized exchanges (CEXs).

In January, analytics firm Kaiko reported that Binance experienced an increase in trading volume, with its market share climbing 50% within just two months of its settlement with the United States Department of .

In spite of the regulatory challenges, the exchange claimed to have seen amore than 40 million increase in the number of users in 2023. Binance highlighted that this was nearly a 30% increase compared to the previous year and attributed the growth to its key services.

Meanwhile, the combined spot and derivatives trading volume on CEXs also rose 92.9% to a new all-time high of $9.12 trillion in March, as traders flocked to the markets while Bitcoin also reached new all-time highs, CCData reported.

Trading volume in crypto derivatives CEXs also rose 86.5% to a record high of $6.18 trillion, which is triple the total market capitalization of all cryptocurrencies.

This surge occurred as investors and traders speculated on the price action following Bitcoins approach toward a new all-time high in March.

The spike in spot trading and derivatives trading activity also coincides with the growing excitement around the success of spot Bitcoin ETFs and the BTC supply halving, which is expected later in April.

This development highlights how much the public still trusts centralized exchanges despite recent failures such as FTX.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Binance trading volumes hit yearly high at $1.12T in March - TradingView

Gambaryan was escorted into the court by heavily armed operatives of the Economic and Financial Crimes Commission (EFCC).

Gambaryan and his colleague Nadeem Anjarwalla were charged by the EFCC on five counts-charge bordering on money laundering and foreign exchange contravention to the tune of $35.4 million.

In a separate suit marked: FHC/ABJ/CR/115/2024, Binance was also accused of failing to register with the Federal Inland Revenue Service to pay all relevant taxes administered by the service.

The FIRS alleged that while Binance was offering taxable services to subscribers on its trading platform, the company failed to issue invoices to those subscribers to determine and payment of its value-added taxes.

The defendants; Binance Holdings Limited and Tigran Gambaryan, were meant to be arraigned on Thursday, but it was stalled. Gambaryans lawyer, I. Chukwuka SAN argued that his client cannot be arraigned because he has not been served with the FIRS charges.

The trial judge, Justice Emeka Nwite, adjourned further hearings until April 19 after listening to the parties submission on the service of the charge on Binance Holdings Limited.

Last week, the Binance executives filed a lawsuit against Nigeria's national security adviser's office and the anti-graft agency, over the violation of their fundamental rights and requested the court to release them.

Gambaryan is presently being held by the office of the National Security Adviser (NSA) in Abuja, Nigerias capital city.

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Nigeria's anti-graft agency produces Binance executive in court, but arraignment stalls - Business Insider Africa