Guide to Stake $BVM for Airdrop Hunting from A-Z

1. Overview of BVM

The Bitcoin Virtual Machine (BVM) serves as a platform offering Bitcoin Layer 2-as-a-service, enabling the advancement of Bitcoin Layer 2 initiatives upon its framework.

Comparable to the Altlayer project on Ethereum, individuals who stake the $BVM token stand to potentially receive airdrops from projects integrated within the BVM ecosystem.

Furthermore, on a weekly basis, typically Thursdays, the Bitcoin Virtual Machine project conducts the burning of BVM tokens, driven by revenue accrued from project transaction fees.

2. BVM ecosystem

As aforementioned, BVM serves as a blockchain infrastructure enabling the development of Bitcoin Layer 2 projects. Presently, there are five registered projects set to evolve within this ecosystem:

Naka Chain: Focuses on the DeFi sector.
Eternal AI: Concentrates on the AI domain.
Bitcoin Arcade: Directs its efforts towards GameFi.
Alpha: Centers its activities around SocialFi.
Swamps: Specializes in DeFi for SRC-20 tokens.

2.1. Naka Chain

Naka Chain stands as a Bitcoin Layer 2 blockchain framework developed within the BVM infrastructure, with the primary objective of crafting DeFi applications atop the Bitcoin network, employing the $BTC token for transaction fees.

Through the BVM platform, users and liquidity from the Ethereum network can seamlessly migrate to Naka Chain, thereby fostering the growth of DeFi endeavors within the Bitcoin ecosystem.

Naka Chain presents a suite of DeFi offerings on the Bitcoin network, including:

Swap: Facilitating asset exchange transactions.
Futures: Enabling trading activities in futures contracts.
Staking: Allowing users to engage in asset staking for yield generation.
Launchpad: Serving as a launch platform for capital mobilization endeavors by nascent projects.

2.2. Eternal AI

The Eternal AI initiative represents a Layer 2 blockchain framework tailored for the execution of AI-driven smart contracts and the storage of AI models. Its principal aim is to establish a decentralized infrastructure for AI, emphasizing principles of decentralization and security.

Eternal AI leverages the Bitcoin Virtual Machine (BVM) as its underlying technological platform. BVM, designed as a Bitcoin Layer 2 blockchain, offers scalability specifically catered to AI functionalities. Notably, BVM is interoperable with the Ethereum Virtual Machine (EVM), and AI programming is conducted using the Solidity language. This design choice facilitates developers' seamless integration of AI features into their decentralized applications.

2.3. Bitcoin Arcade

The Bitcoin Arcade project is a specialized Bitcoin Layer 2 blockchain tailored for gaming purposes. Its development aims to establish a gaming environment entirely based on the Bitcoin blockchain, heralding a golden era for the gaming industry on this platform.

One notable feature of Bitcoin Arcade is its utilization of the Bitcoin Virtual Machine (BVM) protocol. BVM enhances transaction processing speed on this platform, with block times of approximately 2 seconds, thereby creating a rapid blockchain network. Additionally, gas fees on Bitcoin Arcade are exceptionally low, at around less than $0.001 per transaction, providing favorable conditions for users participating in gaming activities on the platform.

A unique feature of Bitcoin Arcade is its ability to issue and trade in-game items as Ordinals Inscriptions. This allows game items and artifacts to be recorded and stored on the Bitcoin blockchain, ensuring their immutability and security. This instills trust and safety for players when owning and trading in-game items.

Furthermore, Bitcoin Arcade also aims to support game developers. The project allocates up to 40% of the token supply in the airdrop program to developers, facilitating their participation and game development efforts on this platform. Additionally, Bitcoin Arcade facilitates the seamless migration of games deployed on Ethereum-compatible chains such as Ethereum, BSC, and Fantom, saving developers time and effort.

2.4. Alpha

The Alpha project is a pioneering social application developed on the Bitcoin platform. This project combines features of social networking and finance to introduce a novel concept known as SocialFi.

One of the prominent aspects of Alpha is its capability to connect, interact, and earn through personalized social experiences. The application provides a platform for users to connect with each other, engage in conversations, post content, and participate in community activities. Additionally, users can earn money through interacting and engaging in social activities on the application.

Alpha also allows users to play games to receive rewards. Users can participate in community games and earn rewards while playing.

Another feature of Alpha is the ability to invite friends to join and receive daily airdrops. Users can invite their friends to join the application and receive daily airdrops of sub-tokens on Alpha.

2.5. Swamps

Swamps is a Layer 2 solution designed to facilitate rapid and cost-effective bridging and trading for SRC-20 tokens.

The Swamps project envisions a future where SRC-20 tokens flourish within an ecosystem driven by innovation, inclusivity, and community-based governance. Swamps is committed to providing a secure and seamless trading platform for SRC-20 tokens, enabling users to engage in decentralized and censorship-resistant transactions without relying on intermediaries or centralized authorities.

3. Guide to Staking $BVM for Airdrop Acquisition

Holders of $BVM tokens have the opportunity to engage in staking, a process through which they can lock up their tokens to earn rewards and potentially receive airdrops from projects within the Bitcoin Virtual Machine ecosystem.

During the staking process, participants receive:

Rewards in the form of $BVM tokens, with an Annual Percentage Yield (APY) ranging from 25 to 58% APR.
SHARDS tokens, which serve as governance tokens within the BVM ecosystem, offering holders privileges such as eligibility for airdrops and participation in exclusive programs.

The step-by-step procedure for staking $BVM is as follows:

Step 1: Setting Up a Nakachain Wallet Address

Visit the Nakachain dashboard at https://nakachain.xyz/staking/dashboard.
Sign in to the platform.
Generate a private key and securely store it for account recovery purposes.
Use the last four characters of the private key to log in securely.

Step 2: Depositing $BVM into Naka Chain

Navigate to the wallet section on the Naka Chain homepage.
Select the "Deposit" option.
Choose the $BVM token.
Select the desired network for deposit, such as Ethereum, to obtain the deposit address.

After obtaining the deposit address, proceed to transfer the $BVM tokens to this address, ensuring the correct network and address are selected for the transfer.

Step 3: Initiating $BVM Staking

Visit the staking dashboard at https://nakachain.xyz/staking/dashboard.
Input the desired amount of $BVM tokens for staking.
Click on the "Stake" option and verify the wallet to complete the staking process.

To unstake $BVM tokens, participants can follow a similar procedure as outlined above, selecting the "unstake" option. It is important to note that unstaking requires a waiting period of 21 days before the tokens are returned to the wallet.

4. Conclusion

The aforementioned instructions delineate a comprehensive procedure for staking $BVM tokens to partake in airdrops from projects within the Bitcoin Virtual Machine ecosystem. Staking at the present moment offers the opportunity to potentially receive airdrops from the Swamps project during the month of May.

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