Airdrop Points

Purpose: drive demand for $iBTC

The airdrop will be split into two: retail, and institutional. Retail allocation is planned to be around 7.5% (TBD) to incentivise user engagement and delegation, whilst institutional around 15.5% (TBD), to incentivise huge numbers of TVL and usage.

Airdrops

Retail

There will be 2 seasons of airdrops for retail users:

Season 1 will reward users for engaging on posts, creating user-generated-content, inviting friends to the community, and other tasks that help Bitsafe grow its brand presence.

• Points collection before TGE.

• Users will get Airdropped tokens on TGE with a short vesting.

Season 2 will reward users for delegation, as an extra boosted reward.

• Points collection will be for 3 (TBD) months after TGE.

• Users will get Lockdropped tokens with a short vesting - lockdropped means the tokens will be airdropped into delegation contracts, allowing users to earn extra yield from delegation whilst the tokens are vesting.

Institutions

There will be 2 seasons of airdrops for institutions too:

Season 1 will be for institutions deploying TVL to mint iBTC before TGE of $DLC. This extra reward, on top of real yield they can get from iBTC usage across different DeFi pools and products, will be a bonus for believing in iBTC early.

• Points collection before TGE.

• Institutions will get Airdropped tokens on TGE with a vesting.

Season 2 will be for institutions using iBTC in different DeFi pools/products. This is a way to reward those who actively engage in the full ecosystem instead of just minting iBTC.

• Points collection will be for 3-9 (TBD) months after TGE.

• Institutions will get Airdropped tokens on TGE with a vesting.

---

[[OLD POINTS IDEAS as of 24.03.2025]]

Activities

We want to incentivize actions that result in an increase of retail wanting to increase iBTC, which will subsequently drive volume of $iBTC (which is then delivered by merchants).

Below is a list of activities that can warrant the earning of points and therefore a claim on the airdrop:

• Liquidity pools (AMMs): Liquidity provision of $iBTC (for example, into Curve LP tokens)

• Lending pools: Supply $iBTC as collateral (in Silo) or borrow $iBTC against other collateral (in Silo).

• Providing collateral for stablecoins: e.g. Lambda $BTCUSD, CRVUSD

• Purchasing DeFi options: QCP and others can issue options on $iBTC.

• Potential grants for developers building DeFi protocols that use $iBTC (parking lot).

• Provide collateral into yield-bearing vaults (e.g. s$iBTC).

• $iBTC Merchants minting.

What not to do:

• Retail cannot mint $iBTC directly. It can only be swapped on DEXes (e.g. from wBTC) or purchased on CEXes, once live

• Don’t incentivize $iBTC swaps in any AMM or DEX. Someone could farm it by swapping back and forth.

• We don’t want to promise free airdrops. Points can only be earned on activity that utilizes $iBTC.

• Since we’re not a blockchain, we don’t support developers building on iBTC directly

• We cannot disclose how many points will turn into how many $BIT tokens.

• Our partners at Chainlink have asked us not to use cashtags (e.g. $BIT), and no rocket emojis. No use of the words “partnership” or “collaboration”. Please see style guide: https://docs.google.com/document/d/1cYlXy57U-n3ozubV5CmWhxjPJGkiFLU-HnvkUEMDbAc/edit

---

Points Methodology

Similar to Merlin, we intend to use the current $BTC value of the transaction.

For example, Merlin M-Points were allocated at the rate of 10,000 per $BTC. So, a user who bridged in $40 worth of tokens at a $40,000 $BTC price would receive (40 / 40,000) * 10,000 = 10 M-Points. Read: https://medium.com/@merlinchaincrypto/merlins-seal-the-biggest-fair-launch-of-layer2-5614001b2582

For D-Points toward $BIT token, we also intend to use this same methodology.

Users (merchants or retail) could earn 1X points for holding $iBTC. And, they earn 5X points for using $iBTC as collateral in DeFi platforms. Note that retail earns no points for swapping $iBTC on DEXes.

Points Implementation

• Points and airdrops will be geo-fenced to exclude the United States as well as sanctioned countries.

• Until our Cayman entity is set up, points are non-tradeable (similar to air miles). When Cayman is set up, the points could become tradeable.

• Similar to Synthetix’ staking site (https://staking.synthetix.io/earn/), the user will be required to scroll down and accept terms & conditions when using the site.

Have a points multiplier in the early days. Often, points programs penalize early adopters by increasing the multiplier over time, which more quickly dilutes early depositors. Instead, we should offer a multiplier for early entrants, and instead reduce multiplier as $BIT gets closer to launch

Points Redemption

• Points can be redeemed via claiming, or via an airdrop - we can decide later.

• Example: https://www.gate.io/learn/articles/how-to-use-merlin-chain-s-m-token/2366

---

iBTC Points App Requirements

Points App Signup page

• Ability to connect wallet to the app for registration

• Optional: invite codes to reinforce exclusivity

Points dashboard

• Ability to see how many points you’re earning, for which activity

• Optional: Ability to earn NFTs in addition to points

• Optional: See your multiplier. Earn a multiplier for certain protocols vs. others

Example

Leaderboard

Referrals

• Early Access Incentives: Reward early adopters based on their activity level

• Multi-Tier Rewards: Implement a two-generation referral system

  • Create a squad and let people join it through an invite link

  • For example, X% rewards for direct referrals and Y% for secondary referrals.

Marketing Campaigns

• Community building: building a strong, engaged community through regular updates, participation in crypto events, and creating educational content about the protocol.

• Influencer & KOL marketing

  • KOLs record videos to explain how $iBTC and the points program work

    • Ex: https://www.youtube.com/watch?v=3S-1uhUF760
• Example KOL list: https://docs.google.com/spreadsheets/d/182sjvA7wepZib9QtiyVVW_O2IlQVSGb48OMvFbJkfG0/edit#gid=0
• “Lucky Draw” lottery programs

• Support with Owned (content marketing) and Earned (PR) media

Example: Galxe campaign to boost Twitter & Discord

• Example: https://app.galxe.com/quest/Bitlayer/GCASdthEkb
• Galxe for tasks (like tweeting & social sharing)

  • Follow @dlc_link

  • Retweet our tweets

  • Have the “Verifier” role in our Discord server

  • Account is followed by @dlc_link

• Rewards:

  • Earn Loyalty Points: Complete tasks to earn 600 points, showcasing your commitment to the Bitlayer community:
  • 50 Bitlayer Discord OG Roles and 25 Bitlayer OG NFTs for lucky participants.

  • Winners of OG Roles will be chosen via our Discord lucky draw bot at the event’s end. Ensure entry before the deadline mentioned in the announcement.