Bitcoin ecosystem project BEVM announces vigorous development of on-chain computing power finance

‍Recently, BEVM, a BTC L2 project invested by Bitcoin Mainland, published a long article to explain the reasons and goals of vigorously developing on-chain computing power finance (HashFi). The article pointed out that the reason why BEVM vigorously develops on-chain computing power finance is that the computing power market is a sustainable business model that has been verified for more than 10 years. Users who buy computing power have real mining income, and miners have real and huge borrowing and other financial needs. Vigorously developing on-chain computing power finance can bring real community users and sustainable on-chain business models to the BEVM ecosystem.

The article also pointed out that after several rounds of bull-bear conversions in the Crypto industry, the majority of community users have long been numb to various Crypto narratives, and only chains that return to nature and have real business models can obtain real communities and long-term and healthy development. Therefore, after receiving investment from Bitmain, the world's largest Bitcoin mining machine manufacturer, BEVM announced that it would vigorously develop a Bitcoin second-layer ecosystem featuring on-chain computing power finance, aiming to migrate the nearly $20 billion annual computing power market to the chain, thereby leveraging the on-chain computing power financial market of over $100 billion.

In order to implement this development strategy, BEVM will continue to promote the support plan for the 10 million US dollar computing power financial ecological project. At the same time, it was announced that the computing power RWA held by users on the BEVM chain will be one of the most important airdrop certificates. In order to ensure the security and benefits of computing power, BEVM stated that it has established cooperative relationships with many mining companies, and BitFuFu, a US Nasdaq-listed mining company headquartered in Singapore, is also one of its computing power suppliers.

Original text as follows:

After receiving investment from Bitmain, the world's largest Bitcoin mining machine manufacturer, we rethought the development strategy of BEVM. Among the many Bitcoin L2s, has BEVM taken a unique and effective development path?

In June 2024, BEVM announced the launch of a 10 million US dollar computing power RWA ecological support plan, which plans to support 10-20 computing power RWA entrepreneurial teams, The goal is to migrate the annual computing power market of 20 billion US dollars to the chain, and ultimately leverage the nearly 100 billion US dollars on-chain computing power financial market.

After 3 months of development, the BEVM hashrate RWA ecological support plan received applications from more than 30 hashrate RWA projects, and finally nearly 10 hashrate RWA entrepreneurial teams deployed on the BEVM chain, among which BitTera, Miner Club, LRWA and other ecological projects were active. Among them, BitTera launched the first batch of Bitcoin hashrate RWA in July, and the product was sold out within 36 hours of its launch. In addition to the excellent operational capabilities of the BitTera team, it also reflects the market's recognition of the hashrate RWA product from the side.

Next, BEVM will continue to vigorously develop the hashrate financial ecology, and take "on-chain hashrate finance-HashFi" as BEVM's ecological development strategy. In order to fully cooperate with this strategy, BEVM will use the hashrate RWA assets held by users as one of the most important vouchers for future BEVM tokens and ecological project token airdrops.

Why does BEVM take on-chain computing power finance (HashFi) as an ecological development strategy?

There are three reasons:

1. The computing power market, or the mining ecosystem, is a Crypto business field that has been verified for more than 10 years, but it has long been isolated from on-chain finance.

Users can obtain real mining income by buying computing power; miners have real and rigid borrowing needs to develop. Whether it is electricity loan, computing power loan or BTC loan, the market size has developed to more than 10 billion US dollars. However, these needs can only be completed through inefficient three-party matching off-chain for a long time, and have not used efficient financial tools on the chain to further improve efficiency and expand scale.

If the various demands of the traditional computing power market can be opened up through on-chain finance, the on-chain computing power financial market of nearly 100 billion US dollars will be leveraged. This is one of the reasons why BEVM vigorously develops on-chain computing power finance.

2. The chain lacks a long-term and effective business model and user retention mechanism.

The current Crypto market, whether L1 or L2, mostly lacks a sustainable business model and an effective user retention mechanism. Many chains (including many well-known L1 and L2) attract a large number of users to participate through various points expectations and various on-chain activities before issuing coins. After the airdrop is realized, the number of active people on the chain immediately becomes three or even double digits. The essence of this problem is that the chain does not provide users with real and rigid services, and the chain also lacks a long-term and effective business model.

At this stage, if the computing power market can be migrated to the chain, the real and effective business of computing power mining can be brought to the chain, and the various asset gain protocols on the chain can bring more profit opportunities to miners; more importantly, the various financial instruments on the chain can efficiently solve the real financial needs of miners such as lending and option leverage.

With real business and real needs, the chain will continue to derive more business models, and the chain will naturally no longer lack real users. This is the second reason why BEVM vigorously develops computing power finance on the chain.

3. BEVM has received investment from Bitmain and has unique resource advantages

As the world's most influential Bitcoin mining organization, Bitmain not only has the absolute advantage of being the world's No.1 in Bitcoin mining machine business, but also has long-term layout and resource advantages in Bitcoin mining pools, Bitcoin computing power market, Bitcoin computing power financial market and other fields.

As Bitmain's only investment target in the Bitcoin Layer2 track, BEVM can naturally use its unique resource advantages to migrate the computing power market demand of more than 20 billion US dollars per year off-chain to the chain, thereby developing a unique on-chain computing power financial ecology.

Therefore, BEVM will not only vigorously support the computing power RWA market, but also layout the on-chain mining pool business, as well as the on-chain computing power lending business, etc.

So, how will BEVM fully support the development of on-chain computing power finance from strategy to tactics?

1. BEVM will continue to promote the tens of millions of US dollars computing power financial ecological support plan, with the goal of supporting 10-20 on-chain computing power financial entrepreneurial teams.

2. BEVM will use the on-chain computing power RWA as one of the most important airdrop certificates. In the future, BEVM airdrops and ecological project airdrops will also be tilted towards users holding computing power RWA.

The above are the reasons and specific strategies for BEVM to vigorously develop on-chain computing power finance. Ultimately, BEVM will build a Bitcoin second-layer ecosystem featuring on-chain computing power finance with a real business model and long-term effective users.

Let us build together and look forward to it together!