Author: Biteye, Core Contributor Crush
Editor: Biteye, Core Contributor Crush
B² Network (hereinafter referred to as "Bsquare") is the first Bitcoin Layer 2 network to adopt zero-knowledge proof. On February 1st, the project initiated the B² Buzz airdrop activity. Similar to Manta and Blast staking activities, users can stake funds in the Bsquare network to receive the project's future tokens.
01. Project Introduction
Advantages of Bsquare:
- Multiple asset cross-chain options. Supports stablecoins and low-fee public chains, reducing the cost of cross-chain deposits for users.
- Technological innovation. Plans to launch the first data availability layer (DA layer) B² Hub on BTC.
- Strong investment lineup. Investment institutions include HashKeyCapital, OKXVentures, IDGCapital, KuCoin Ventures, ABCDELabs, Waterdripfund, OGs Fund, and Antalpha Group, with the majority being exchanges, which is expected to greatly enhance the listing prospects. Among them, IDG has invested in many successful projects such as Baidu, Tencent, JD.com, Coinbase, Circle, and Bitmain.
- Funds are managed using multi-signature addresses. The involvement of the aforementioned reputable institutions significantly enhances fund security.
- Short fund lock-up period. According to the official statement, funds will be unlocked in April, and since it is early February, this means that our staked funds can be withdrawn in less than 50 days, reducing the opportunity cost of asset deposits.
- The enticing narrative of the Bitcoin Layer 2 network itself. If the future development of the Bitcoin ecosystem replicates the Ethereum ecosystem, then the market value of the Bitcoin ecosystem's L2 compared to the L2 on Ethereum will only be higher, not lower. With a market value of 5 billion, the airdropped 10% tokens will be worth 500 million. Early participants will receive very generous returns.
02. Activity Analysis
Invitation Mechanism
Wallet A invites → Wallet B, and Wallet A receives a 16% bonus from Wallet B's funds. Then, Wallet B invites Wallet C, and Wallet B receives a 16% bonus from Wallet C's funds, while Wallet A receives an 8% bonus from Wallet C's funds.
Under the current invitation mechanism, individuals cannot enjoy group bonuses, but they can still amplify their earnings by joining reliable groups.
Although Bsquare has set up a mechanism for inviting new users, each person only forms a group with their own downline, and various lucky box draws and rate bonuses for uplines are unrelated to downlines.
This means that the new user invitation mechanism only rewards the inviter unilaterally, and the invitee needs to either invite others or continuously deposit funds to receive rewards.
The good news is that by using Biteye's invitation code to join, we will refund half of the invitation reward to the user.
Join using Biteye's invitation code
Additionally, group users will also receive additional rewards such as an 8% discount on MiniBridge (a small cross-chain bridge under Biteye) monthly card, and a CryptoHunt monthly card (Web3 Alpha information aggregation tool, available to users with deposits exceeding 500U, currently sold for 0.1 E), which other invitees cannot provide.
In the previous Manta activity, we returned 26,580 Manta tokens to 283 users in the community, and many users received community rewards that exceeded their own staking rewards!
Mining Machines and Assembly Line
In addition to staking, Bsquare has added an extra layer of gameplay involving mining machines and assembly lines, which is slightly more complex to operate.
In most other staking activities, users only need to stake their funds and wait for their points to grow automatically. The only manual operation required may be to draw a lucky box after a certain period. However, Bsquare is different.
As a Layer 2 on BTC, Bsquare simulates the mining process of BTC. The funds deposited by users increase not in points, but in mining machine parts each day.
The acquired parts need to be manually assembled into mining machines, which are further divided into CPU mining machines, GPU mining machines, and ASIC mining machines, with the hash rate increasing in a 1:10:100 ratio. This means that the speed of token mining will also be faster.
Only after obtaining a mining machine can users mine Bsquare's native tokens, and the mining difficulty will also increase, similar to BTC, from 2.5% to 1.25%, and finally to 0.625%.
Furthermore, there is a gameplay involving a primary assembly line and an advanced assembly line when assembling mining machines.
- Primary assembly line: Open to everyone by default. When using the primary assembly line to assemble a mining machine, it consumes 10 parts each time, with a 78% chance of producing 1 CPU mining machine, a 20% chance of producing 2 CPU mining machines, and a 2% chance of producing 1 GPU mining machine. Additionally, when a user's funds (including personal deposits + 16% and 8% bonus funds from invitees, the same applies below) reach 0.5 BTC, they can increase the 2% chance to 5% by opening a lucky box.
- Advanced assembly line: Not open by default. When funds reach 0.25 BTC, it can be unlocked by opening a lucky box. When using the advanced assembly line to assemble a mining machine, it consumes 80 parts each time, with a 78% chance of producing 1 GPU mining machine, a 20% chance of producing 2 GPU mining machines, and a 2% chance of producing 1 ASIC mining machine. Additionally, when a user's funds reach 1 BTC, they can increase the 2% chance to 5% by opening a lucky box.
The value of various assets is calculated based on the price at the time of deposit and will not fluctuate during the activity.
Based on the current gameplay involving mining machines, lucky boxes, and assembly lines, the following points require our attention.
During the participation in the activity, it is necessary to pay attention to the timing of assembling mining machines based on different fund amounts.
1) Firstly, a simple logic is that if the funds you invest are likely to be less than 0.25 BTC, and even if you invite others, you won't reach this fund amount, then you will not have the opportunity to use the advanced assembly line. In this case, as soon as you have 10 parts, you can immediately use the primary assembly line to assemble a mining machine and enter the mining phase as soon as possible, without waiting for 80 parts to operate.
2) Secondly, if you estimate that your funds will easily reach 0.25 BTC, or even 1 BTC, then you will have the opportunity to obtain a higher hash rate ASIC mining machine. According to its hash rate ratio, using an ASIC mining machine to mine tokens will be 100 times faster than a CPU mining machine and 10 times faster than a GPU mining machine. In this case, it is recommended to wait for 80 parts each time to assemble and obtain a higher mining speed.
3) The above lucky box rewards for different funds are only the current official arrangement, and it is currently unknown whether there will be any adjustments in the future. If there are adjustments, the above strategies will need to be changed accordingly.
Participate as soon as possible. In addition to the increasing mining difficulty, there is currently a 1.5 times early bird bonus. Until February 14th, Valentine's Day, depositing users can enjoy a 1.5 times rate of part production.
Funds and Public Chain Selection
If you have idle BTC, you can deposit it in Bsquare, as the returns may be higher than keeping it elsewhere. The most gas-saving deposit strategy is to use BNB Chain's FDUSD, and FDUSD is a stablecoin, so there is no price fluctuation.
Note that if you recharge BRC20 assets, you need to perform engraving and transfer operations in the OKX or UniSat wallet, and transfer the engravings to the system address. Exchanges cannot be used for transfers here.
OG and NFT Holder Rewards
Bsquare will provide OG users on the BTC chain with a one-time reward of 5 parts, but it requires a minimum deposit of 0.01 BTC equivalent to activate Bsquare, including the following 5 types:
- Holding more than 10 ORDI
- Holding more than 1,000,000,000 SATS
- Holding more than 2,000,000 RATS
- Holding more than 50 ATOM
- Holding more than 0.1 BTC
OG assets are not mentioned to be snapshot-based, so they should be able to participate at any time. However, NFT rewards have already been snapshot-based and cannot be participated in, so it will not be further discussed here.
The above is the key analysis of the Bsquare activity this time. For more information, please refer to the official Twitter and Medium blog.
03. Operation Steps
Open the website, connect to the BNB Chain, and click "Join Now."
Before joining the activity, double-check the invitation code to ensure it matches the one in the image below, otherwise, community rewards will not be obtained.
Join using this invitation code
Verify on Twitter, and in the third step, connect an EVM address and a BTC address, then click "Continue."
Select the corresponding network and token, and start depositing assets.
A popup reminder will appear again, stating that the funds will be unlocked in April. Proceed with confirmation.
If during the deposit process, the wallet clearly has assets but still shows an error indicating insufficient funds, it may be due to issues with the OKX browser plugin. Switch to the OKX exchange, access its web3 wallet, and then perform cross-chain fund transfers to operate normally.
FDUSD can be exchanged and withdrawn on Binance, with no fees for buying and selling stablecoins, a withdrawal fee of 0.3U, and a deposit fee of 0.04U.
For ease of calculating the current part production speed, I will use 1000U for demonstration. From the above image, it can be seen that currently, 1000U produces 0.6395 parts per day.
Assuming the activity ends on April 1st, with a deposit made on February 8th, there are a total of 53 days during the activity, with a 1.5 times rate before the 14th.
Therefore, during the activity, 1000U can produce a total of (0.6395x1.5x6)+0.6395x(53-6)=35.812 parts.
- Worst luck: synthesizing 3 CPU mining machines with a 75% probability, resulting in 3 CPU mining machines.
- Moderate luck: synthesizing 3 CPU mining machines with a 20% probability, resulting in 6 CPU mining machines.
- Best luck: synthesizing 3 GPU mining machines with a 2% probability, resulting in 3 GPU mining machines, equivalent to the hash power of 30 CPU mining machines.
Additionally, the minimum funds required to open the first lucky box is 0.0625 BTC, which at a price of 44600U for BTC, is approximately 2787.5U, and the reward for the first lucky box is 1-2 parts.
04. Earnings Calculation
The above is the analysis, strategy, and operation tutorial for the B² Buzz airdrop activity. Based on the information above, everyone can decide whether to participate and how much funds to deposit.
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