🥳 Galaxy Lab x Beatcoin 𝕏 Spaces AMA

Galaxylabss avatar
Galaxy Labs Dao🧪
@GalaxylabssOct 6, 2025

The Spaces discussed the “Bitcoin” project led by guest Samos and hosted by Deck, focusing on a bridge that connects Bitcoin/BRC-20 assets to the BNB Smart Chain for faster, cheaper DeFi use. Samos outlined the security model: multi‑signature custody on the Bitcoin side, a light verification system that checks BTC transactions before minting on BNB, and validator staking with slashing to enforce honest behavior. Tokenomics feature a fixed 21M BIT supply: 28% cross‑chain reserves, 12% DEX liquidity locked for 180 days, 8% risk buffer, 24% team (locked one year, multi‑sig), and ~23% market/distribution. Use cases include providing liquidity (e.g., on PancakeSwap), participating in lending/borrowing on BNB DeFi, and future governance when the beta/DAO launches. The roadmap (2025–2026) introduces staged bridge versions, deeper BNB DeFi integrations, multi‑chain expansion (Ethereum, Arbitrum, Base), and validator elections. Community building emphasizes transparency, education, empowerment, frequent AMAs/updates, multi‑language support, and incentives (e.g., ~15% APY targets for LPs, 0.7% supply for community rewards). The team previously ran Set Bridge (BRC20↔ERC20), processing ~1,500 daily cross‑chain transactions, and uses multi‑sig treasury controls. Call to action: follow Twitter/Telegram and join early testing/liquidity.

AMA Summary: BIT Token and Bitcoin-to-BNB Bridge

Participants

  • Deck (Host)
  • Samos (Project representative; name referenced variably as “CMOS/Samus/Samos” in the recording, summarized here as Samos)

Project Overview

  • The project aims to connect Bitcoin-origin assets to the BNB Smart Chain (referred to as “BMB chain” in the recording), making Bitcoin-based tokens faster, cheaper, and more usable across DeFi, games, and marketplaces.
  • Focus is on Bitcoin-origin fungible tokens (the speaker says “PRC20”; context suggests BRC-20-type inscriptions), which are powerful but face usability constraints on the Bitcoin network (slow, expensive, less convenient for DeFi).
  • Core solution: a bridge and supporting infrastructure to move assets to BNB Chain, enabling trading on DEXs, DeFi lending/borrowing, and broader application utility.

Security Approach

  • Multi-signature wallets on the Bitcoin side: Funds are not concentrated in a single wallet. Movements require approvals from several trusted parties, reducing single-point-of-failure risk.
  • Transaction verification system: Every Bitcoin-side transaction is verified before minting corresponding tokens on BNB Chain; unapproved or fake transactions are blocked.
  • Validator model with staking and slashing: Bridge validators stake their own tokens; dishonest behavior can lead to loss of stake, aligning incentives with honest operation.
  • Treasury protection: Team funds and treasury are managed via multi-signature wallets; no single individual can move funds unilaterally.
  • Overall design balances security, cost-efficiency, and speed, aiming to exceed typical “standard” bridge setups that are either centralized or costly.

Tokenomics (BIT)

  • Total supply: 21,000,000 BIT, mirroring Bitcoin’s supply to foster trust and scarcity.
  • Indicative allocation (percentages are given as approximate values in the recording):
    • Cross-chain reserves: ~28% to back bridged Bitcoin assets 1:1 when moved to BNB Chain.
    • Liquidity provision: ~12% to support DEX trading; locked for ~180 days to promote stability.
    • Risk buffer: ~8% reserved as an emergency/security/technical fund.
    • Team allocation: ~24% locked for one year, then released gradually (vesting); protected by multi-signature to prevent misuse.
    • Market/distribution: ~23% for market-making, exchange trading, and liquidity pools.
    • Community incentives: ~0.7% set aside for airdrops, testers, promoters, and other active community participants.
  • Rationale: Stability, transparency, long-term sustainability, and adequate liquidity are emphasized. Lock-ups and multi-sig controls are designed to protect community interests.

Technical Differentiators

  • Lightweight verification for Bitcoin transactions: A security-checked but cost-efficient approach that does not require running full Bitcoin nodes, reducing operational overhead while maintaining integrity checks.
  • Validator governance: Decisions are made via multisig and staking; misbehavior is economically penalized (slashing), encouraging honest operation.
  • Resulting user experience: Secure, fast, and affordable bridging compared to centralized or high-fee alternatives.

Utility and User Scenarios

  • Liquidity provision: Users can provide liquidity on PancakeSwap (referred to in the recording as “pandex/pancakes web”) and earn rewards.
  • DeFi participation: BIT can be used within BNB Chain DeFi apps for lending and borrowing.
  • Governance: BIT will play a role in future governance (e.g., validator elections, project decisions) as the beta and DAO components launch.
  • Broader ecosystem: As partnerships expand, BIT and bridged assets can be used in apps, games, and marketplaces.

Roadmap (2025–2026)

  • Iterative bridge releases: Special/beta versions to test systems and gather early user feedback; selected early users will participate in testing.
  • BNB Chain integrations: Priority on connecting with DeFi protocols and DEXs to drive active usage of the bridge.
  • Multichain expansion: Plans to extend support to other chains such as Ethereum, Arbitrum, and Base, moving toward a multi-chain bridge.
  • Governance rollout: Launch of beta/DAO elements enabling community participation in validator elections and key decisions.
  • Strategic trajectory: From a strong technical foundation to a more open, decentralized ecosystem over time.

Early Adopter and Liquidity Provider Benefits

  • Attractive yields for LPs: Those staking BIT pair liquidity (the recording references “beat and PTC” LP tokens; context suggests BIT-paired LPs) on PancakeSwap can target yields; the team estimates over 15% APY in the first phase, contingent on trading volumes.
  • Airdrops and rewards: ~0.7% of total supply allocated to community incentives for testers, promoters, and active participants.
  • First-mover advantage: Early users gain familiarity, position themselves in liquidity pools, and influence governance as the ecosystem evolves toward a DAO.

Community and Team

  • Team experience: Previously built “Set Bridge,” connecting Bitcoin inscriptions (BRC-20 context implied) to ERC-20; at peak, processed over 1,500 cross-chain transactions daily.
  • Competencies: Deep technical knowledge in blockchain infrastructure, security audits, and DeFi development.
  • Safety controls: Team treasury managed via multi-signature wallets to maintain trust and prevent unilateral actions.
  • Community strategy:
    • Regular updates, AMAs, and open reporting on progress and plans.
    • Incentive programs: referral campaigns and contribution rewards.
    • Multi-language support to reach global users.
    • Active presence on Twitter (X) and Telegram to maintain daily engagement.
    • Goal: Make community members genuine stakeholders—participating in building and governance, not passive observers.

Expansion Plans and Build Pace

  • Current focus: Finalizing the BIT token and swap platform; ongoing testing and periodic retesting to ensure readiness for wider release.
  • Infrastructure scope: BIT is presented not just as a token but as part of a broader infrastructure (bridge + swap, governance; the speaker also mentions “building a chain” in a forward-looking sense).
  • Philosophy: Slow-and-steady, correctness-first approach; taking time to ensure security, utility, and high-quality outcomes.

Key Takeaways

  • The project targets a real pain point: safely and efficiently using Bitcoin-origin assets in broader crypto ecosystems.
  • Security-first design: Multi-sig custody, transaction verification, and validator staking/slashing.
  • Clear, scarcity-based tokenomics: 21M BIT with transparent, utility-aligned allocations and lock-ups.
  • Practical utility: DeFi usage, LP rewards, future governance, and integration with apps/games/marketplaces.
  • Ambitious but phased roadmap: Beta testing, BNB DeFi integration, multichain expansion, and DAO governance.
  • Community-centric: Experienced team, transparent operations, incentives for early contributors, and active global engagement.

Calls to Action

  • Follow the project on Twitter (X) and join the official Telegram (mentioned as “Bitcoin Global” in the recording) to stay updated, participate in testing, and engage with the community.
  • For interested users and LPs: Explore liquidity provision opportunities on PancakeSwap once available, watch for governance rollouts, and track announcements on incentives and partnerships.