@bitlayerlabs #Bitlayer

Bitlayer is a Layer 2 project on the Bitcoin network, pioneering the implementation of BitVM, aimed at enhancing scalability and transaction performance while maintaining security equivalent to Bitcoin. Built on the BitVM platform, Bitlayer supports Turing-complete smart contracts, allowing the execution of decentralized applications (dApps) in fields such as DeFi, NFT, and GameFi. The project has raised 25 million USD through funding rounds, with participation from major funds such as Franklin Templeton, Polychain Capital, and Framework Ventures, achieving a valuation of 300 million USD.

Bitlayer launched mainnet V1 in April 2024, attracting over 300 dApps and nearly 550 million USD TVL. The BitVM Bridge connects Bitcoin with blockchains like Arbitrum and Starknet, facilitating liquidity and DeFi opportunities. The project also hosts events like BTCFI Carnival, offering BTR token rewards. With plans to launch mainnet V2 and BTR token, Bitlayer promises to drive a safe, flexible, and efficient Bitcoin DeFi ecosystem.