PANews reported on August 26th that Bitlayer is about to launch its initial public offering (TGE) for the BTR token. BTR, the governance token of the Bitlayer ecosystem, has a fixed total supply of 1 billion, with an initial circulation of 261.6 million (26.16% of the total supply). The token will be minted on the Bitlayer network and distributed via the Ethereum mainnet and the BNB Smart Chain, enabling cross-chain compatibility.

BTR tokens are used for staking, node voting, on-chain governance, and fee distribution. The token distribution plan is as follows: 40% for ecosystem incentives, 20.25% for investors and advisors, 12% for the core team, 11% for public distribution, 7.75% for node incentives, 6% for the treasury, and 3% for liquidity.

According to previous news, Binance Alpha and Binance Futures will list Bitlayer (BTR) on August 27.