Today, let’s introduce this event
Bitlayer Booster Campaign
Bitlayer Labs is a company focused on Bitcoin Layer 2 solutions, dedicated to building a Bitcoin Layer 2 network based on Bit VM, aimed at making the Bitcoin ecosystem more scalable and interoperable. Here is a detailed introduction:
Development History: Bitlayer Labs was established in November 2023 and quickly emerged in the Bitcoin Layer 2 field. On April 15, 2024, its mainnet v1 version went live.
Core Technology: The company proposed and implemented OP VM, a forward-looking Bitcoin Layer 1 verification solution that combines fraud proofs (Bit VM) and validity proofs (based on OP_cat), which can enhance the security level of various protocols within the Bitcoin ecosystem, enabling Bitcoin Layer 1 to verify arbitrary computations.
Funding Situation: In March 2024, Bitlayer Labs completed a $5 million seed round financing, led by Framework Ventures and ABCDE Capital. In July 2024, it completed an $11 million Series A financing, led by Franklin Templeton and ABCDE. In October 2024, it completed a $9 million Series A extension financing, led by Polychain Capital and Franklin Templeton, bringing the total funding amount to $25 million.
Ecosystem Construction: After the mainnet v1 went live, more than 280 decentralized applications have been deployed on its network, covering areas such as infrastructure, developer tools, wallets, decentralized finance, non-fungible tokens, gaming, and more. At the same time, it has established partnerships with over 30 Web3 platforms such as Hacken, AWS Cloud, Ankr, and Polyhedra.
