The BeL2 Arbiter Network enables decentralized, non-custodial Bitcoin DeFi by connecting Bitcoin’s mainnet to EVM-compatible smart contracts through cryptographic proofs. This marks a pivotal moment where Bitcoin can interact and communicate with other blockchains, uniting years of innovation into a new non-custodial financial layer built on digital gold.
Arbiters play a critical role in this ecosystem, ensuring transaction fairness, resolving disputes, and earning fees. With the recent deployment of BeL2’s Beta Arbiter Network, now is the perfect opportunity to become one of the first to support the system and earn rewards, including the upcoming incentive program launching this Wednesday!
In this article, we provide a comprehensive guide on getting started, complete with a PDF and video support. Alongside the videos linked below, use the provided PDF as detailed documentation to assist you in the setup process. If you wish to instead speak with an AI Assistant, our BeL2 GPT is available 24/7 to help you with this task too. Okay, let’s jump in!
1. BeL2 Arbiter Prerequisites
Before beginning the setup, ensure you have the following:
- Hardware Requirements:
- CPU: Minimum 2 cores
- RAM: 8GB+
- Storage: 100GB SSD+
- Network: 100Mbps internet connection
- Software and Wallets:
- Elastos Smart Chain Wallet: Funded with ELA tokens.
- Metamask Browser Extension: For Arbiter registration.
- Bitcoin Wallet: Such as Unisat or OKX browser extension.
- Go (1.20 or newer): Install from Go’s official site.
- Mobile: Use Web3 Essentials’ built-in browser.
- Desktop: Use Metamask and Unisat wallets. Should you need to add the Elastos Smart Chain (ESC) network on Metamask, please refer to https://elastos.info/explorers/ Elastos networks section
2. Register as an BeL2 Arbiter
- Visit the Arbiter Beta Portal: https://arbiter.bel2.org/
- Connect Your Wallet:
- Use Metamask to connect your ESC wallet.
- Set Up Arbiter Settings:
- Fee Rate: Define your annual fee rate (e.g., 10%).
- Service Commitment Deadline: Specify a time period for your service.
- BTC Address: Enter your Bitcoin address and public key.
- Stake:
- Choose between staking ELA (minimum 1 ELA) or NFTs for collateral.
- Finalize Registration:
- Submit your configuration to complete the process.
3. Set Up the BeL2 Arbiter Signer Node
Please follow the the provided PDF for detailed documentation.
Congratulations! By completing this setup, you’ll contribute to a decentralized BTC finance ecosystem while earning rewards as an Arbiter. This week, we will be announcing the community incentives program where you can earn additional ELA rewards for participation in the system, including Native Bitcoin lending integration for the first utility access to the BTC lending DApp. Did you enjoy this article? To learn more, follow Infinity for the latest updates here!
