To vigorously develop the hashrate RWA ecosystem, BEVM has officially launched a $10 million hashrate RWA ecosystem support plan, which will focus on supporting 10-20 hashrate RWA startups, providing them with comprehensive support including branding, investment, hashrate resources, liquidity incentives, and more. The goal is to bridge the gap between off-chain hashrate and on-chain finance through BEVM, deeply integrating the trillion-dollar hashrate market with on-chain DeFi, and further unlocking the financial value of hashrate assets.
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In April 2024, after the Bitcoin network completed its fourth halving, each block produced approximately 3.125 BTC, with an annual output of around 164,250 BTC. In the next four years, with Bitcoin prices ranging from $70,000 to $150,000, the total annual global output of BTC will be worth approximately $11.5 billion to $24.6 billion. Other PoW tokens, such as Litecoin (Dogecoin), ETC, and Kaspa, will generate nearly $2 billion worth of assets through mining annually. Therefore, the total value of PoW assets generated through mining globally is approximately $13.5 billion to $26.6 billion, with an average value of around $20 billion per year.
However, the vast majority of PoW assets have not been utilized, and there are few decentralized applications based on PoW tokens in the market.
The root cause is the long-standing severe disconnect between the mining community and on-chain finance.
Most miners lack experience and understanding of on-chain finance, and a large amount of high-quality PoW assets have yet to enter the on-chain financial ecosystem. Taking BTC as an example, currently only around 210,000 BTC (153,000 WBTC and approximately 50,000 BTC in other wrapped forms) have entered on-chain finance, accounting for only about 1% of the total BTC supply. The proportion of other PoW assets (such as Litecoin, Dogecoin, ETC, etc.) entering on-chain finance is even lower. Apart from "mine, withdraw, and sell," miners have no other revenue models.
Currently, nearly $20 billion worth of PoW assets are still being produced annually. If these PoW assets could be directly distributed on-chain and naturally combined with on-chain finance, it would not only provide hashrate revenue for future miners but also directly generate hashrate financial returns, representing a massive untapped market.
BEVM has identified this enormous market gap and is therefore focusing on developing the hashrate RWA ecosystem, as well as launching the hashrate RWA ecosystem support plan.
Hashrate RWA involves issuing off-chain hashrate assets as tokens on-chain and directly distributing the hashrate rewards on-chain, allowing these PoW assets to directly integrate with on-chain finance and ultimately forming a hashrate RWA financial ecosystem that connects miners' hashrate with on-chain finance.
The hashrate RWA projects that BEVM focuses on supporting primarily include building decentralized hashrate distribution markets on the BEVM chain, various DeFi protocols based on PoW assets, hashrate RWA-related protocols, hashrate RWA option protocols, and more.
The hashrate RWA ecosystem is not merely tokenizing hashrate and building DeFi protocols around hashrate RWA; rather, it aims to directly distribute the nearly $20 billion worth of annual hashrate rewards on the BEVM chain through hashrate RWA. Simultaneously, on-chain DeFi protocols will directly combine these hashrate reward assets, further amplifying miners' income and unlocking the financial value of hashrate assets, ultimately resolving the long-standing disconnect between the mining community and on-chain finance.
Vigorously developing the hashrate RWA ecosystem requires access to hashrate resources and a significant influence within the mining community.
It is well known that Bitmain is the world's largest Bitcoin mining rig manufacturer, and the hashrate it influences was once the largest globally. Within the global mining community, Bitmain wields immense influence.
BEVM is currently the only investment project for Bitmain in the BTC Layer 2 sector. Leveraging Bitmain's influence in hashrate resources and the mining community, BEVM has an absolute advantage in expanding the hashrate RWA ecosystem compared to other BTC Layer 2 projects.
To vigorously develop the hashrate RWA ecosystem, BEVM has introduced a $10 million hashrate RWA ecosystem support plan, focusing on supporting 10-20 hashrate RWA startups. Key areas of support include:
BEVM will work with investment institutions (Bitmain, viaBTC, etc.) to secure various types of PoW hashrate resources for startups, including Bitcoin, Litecoin (Dogecoin), Kaspa, ETC and more. BEVM will also provide support to hashrate RWA projects on branding, investment, liquidity incentives, and more.
By vigorously developing the hashrate RWA ecosystem, BEVM aims to bridge the gap between off-chain hashrate and on-chain finance through the Bitcoin Layer 2 network, deeply integrating the $20 billion annual hashrate asset market with on-chain DeFi, and ultimately expanding a unique BTC Layer 2 path featuring the hashrate RWA
