Bitcoin Virtual Machine is a rapidly growing L2 protocol on Bitcoin. It allows users to create their own layer 2 networks and drives the value of its native BVM tokens.
Bitcoin Virtual Machine, a protocol founded late February, is gaining traction among traders betting on the general growth of the Bitcoin ecosystem, driving demand for its BVM tokens. The value propositions for the token are driven by staking rewards for BVM holders and a cut of fees generated by the service, developer @punk3700 told CoinDesk in a direct message interview on X.
On Friday, the team said Naka Chain, a Bitcoin layer-2 build on BVM, will airdrop 10.5 million tokens to BVM token stakers. The airdrop is proportional to a user’s staked holdings and will be locked for three months.
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