Bitlayer Labs is a pioneering company in the Bitcoin Layer 2 space, focusing on developing infrastructure to enhance the scalability and security of the Bitcoin network. Here's what we know about them¹ ²:

- *Founders:* Charlie Hu and Kevin He co-founded Bitlayer Labs, bringing deep technical expertise and crypto experience to the table.

- *Funding:* Bitlayer Labs has secured significant funding, including a $5 million seed round led by Framework Ventures and ABCDE Capital, and an $11 million Series A round led by Franklin Templeton and ABCDE. This brings their total funding to $16 million and valuation to $300 million.

- *Technology:* Bitlayer is built on the BitVM paradigm, offering Bitcoin-equivalent security and Turing completeness. Their technology enables ultra-scalability, high-throughput, and low-cost transactions, making it an attractive solution for Bitcoin DeFi applications.

- *Ecosystem:* Bitlayer has garnered significant support from ecosystem partners, including notable investors like StarkWare, OKX Ventures, Alliance DAO, and UTXO Management. They've also partnered with prominent angel investors, such as Messari CEO Ryan Selkis and Dan Held, founder of Asymmetric Capital.

- *Ready Player One Program:* Bitlayer launched a $50 million ecosystem incentive program, "Ready Player One," to encourage developers to build on their platform and drive adoption.

- *Mission:* Bitlayer aims to become the computation layer for Bitcoin, providing a robust foundation for decentralized applications and use cases that leverage Bitcoin's security and scalability.

With its innovative approach and strong backing, Bitlayer Labs is poised to play a significant role in shaping the future of Bitcoin Layer 2 infrastructure.#Bitlayer