Lorenzo is excited to unveil an upcoming joint event, featuring the Lorenzo’s Pre-Launch Staking Event for Babylon and the Bitlayer Mining Gala, launching on May 27th and running until June 10th.

Through the program, we will start rewarding our first users through our point system. Users will earn points and rewards by participating in the Lorenzo’s Pre-Launch Staking Event for Babylon, where they stake BTC in Lorenzo (thereby subsequently minting stBTC) and bridge stBTC to Bitlayer to participate in our ecosystem partners such as Bitsmiley, BitCow, Avalon Finance, BitParty, Enzo Finance, and Pell Network to earn further yields.

Join us in the Lorenzo’s Pre-Launch Staking Event for Babylon and Bitlayer Mining Gala, mint your stBTC and maximize your earning potential with over 10X points for early contributions!

How To Begin

The tasks for this event will be divided into two steps: first, stake in the Lorenzo’s Pre-Launch Staking Event for Babylon to receive stBTC. Then, bridge the obtained stBTC to Bitlayer to participate in projects by Lorenzo DeFi partners. We will provide a clear introduction to the respective plans and incentive policies.

For detailed instructions, please refer to the tutorial Lorenzo Betanet 101: How to use Lorenzo.

Reward rules for users

Pool 1

This pool rewards users who stake in the “Lorenzo’s Pre-Launch Staking Event for Babylon” to get stBTC. Please note that pre-charged BTC will be delegated to Lorenzo. Once Babylon’s mainnet launches, Lorenzo will stake all the received BTC to Babylon on a best-effort basis. Stakers will receive the same amount of stBTC as the staked BTC.

1. The event will conclude with the launch of the Babylon mainnet.
2. Users who fully participated in the Lorenzo pre-staking Babylon event from 5/28 or earlier and continued their participation throughout the event will will earn 30,000 points per 1 BTC staked, distributed as 1,500 points daily over 20 days.
3. Proportional points will be provided for staking less than 1 BTC. If the participation period is less than 20 days, points will be distributed based on the actual number of days.
4. Users who did not participate from the first day will receive points proportional to the number of days they participated. All BTC locked in Babylon will not be unlocked/withdrawn within three months and is expected to be unlocked on August 31, 2024.
5. LRZ supporters will be boosted and have 2 times points within the first 7 days of their staking taking effect.
6. For the stakers on Lorenzo TVL Campaign Waitlist, Lorenzo will offer early stakers 5X, 2.5X, and 1.25X points within the first 7 days of their staking participation.
7. If you have signed up for the waitlist, the first 100 stakers on the waitlist that stakes to “Lorenzo’s Pre-Launch Staking Event for Babylon” staking plan has 5X yield on the first 7 days staking, first 1K stakers will have 2.5 x yield on the first 7 days, and first 10K stakers will have a 1.25 x yield on the first 7 days of staking.
8. Babylon staking pioneer NFT holders, if they participate in TVL Campaign, will share an individual pool of yield, tentatively extra 5% of total points generated.

Pool 2

Pool 2 rewards stBTC holders who bridge their stBTC to Bitlayer and participate in projects of our ecosystem partners. The rewards are jointly provided by Lorenzo and integrated DeFi projects, including:

• Bitsmiley — BTC-Native stablecoin protocol
• BitCow — BTC-Native stable and concentrated liquidity AMM
• Avalon Finance — The best BTC borrow, lending, and staking protocol in the Merlin ecosystem
• Bitparty — The first “asset gamified community network” in the BTC ecosystem
• Enzo Finance — The first and best-decentralized lending protocol on the BitLayer chain
• Pell Network — A decentralized trust marketplace that diversifies BTC and LSD yield, aiming to enhance security for BTC L2 networks
• Macaron — The First & Native DEX on Bitlayer

1. For all the stBTC integrated DeFi projects, Lorenzo will take snapshots of all the ecosystem partners stBTC TVL twice during the Mining Gala event, every time a user in the snapshot being recorded having stBTC contributing to our ecosystem partners will earn points based on the volume of total stBTC contributed to our partners. The criteria might be different for different projects, only the stBTC TVL that helps their business goal shall be counted.
2. For every stBTC contributed in every partner, DeFi products in every snapshot, gets 10,000 points.
3. Furthermore, Bitlayer OG Pass holders enjoy a 10% booster in Pool 2 rewards. Additionally, Bitlayer mining gala participants will also receive the Bitlayer Mining Gala Pioneer SBT, this SBT holders will be eligible for the Bitlayer token $BTR airdrop.
4. Users can also receive incentives from DeFi projects, with the specific incentive amounts determined by the partnering projects.

Pool 3

Lorenzo will be allocating a certain portion of extra points for users introduced by partner projects including Particle Network (list will update).

Referral Rewards

Every user will have a promo code that can be shared on Twitter. For every new user you successfully invite with your promo code to participate in the campaign, you will earn 20% of all the respective points they earn from staking. Additionally, the invited user will receive an extra 5% bonus points on the points they earn from staking by using the promo code.

Starting Big

We’re thrilled to begin our partnership with Bitlayer through such a large, impactful activation alongside an incredible cohort of projects from across the bitcoin DeFi landscape.

Join Lorenzo in the Bitlayer Mining Gala and maximize your earning potential with increased points for early contributions!

Stay tuned for the full participation guide coming soon — it will be added to this article once ready. To stay informed, please visit and follow our regular updates on X (Twitter), Medium, Telegram, and Discord.

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