What is Bitlayer Labs?
Bitlayer is the first Layer 2 network built on BitVM, providing security similar to Bitcoin with Turing completeness (the ability to run complex code), enabling the building of decentralized applications and a DeFi system directly on the Bitcoin network.
The goal: to transform Bitcoin into a full computing layer, granting it scalability, speed, and interactivity, without compromising the security that the base layer is known for.
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Achievements and growing passion
1. Impressive funding from multiple stages:
The first Seed round successfully closed with $5 million in March/April 2024, led by Framework Ventures and ABCDE Capital, with a valuation reaching $80 million.
Just months later, it secured $11 million in a Series A round, reflecting investor confidence in the vision, with the aim of accelerating technical expansion and team building.
In October 2024, the project experienced an additional Series A round of $9 million led by Polychain Capital and Franklin Templeton, bringing total funding to approximately $25 million, with a valuation estimated at $300 million when considering all factors.
2. Open incentive program for developers – Ready Player One:
Bitlayer launched a $50 million rewards program to support projects and developers launching their applications on their Mainnet. Huge rewards and excellent funding opportunities!
3. The next phase – BitVM Bridge and V2:
The BitVM Bridge Mainnet was launched during the summer launch event of 2025, alongside the release of the V2 white paper and a preview of the architectural future for V3.
The team has successfully built a comprehensive DeFi Stack for Bitcoin, surpassing a total value locked (TVL) of $800 million, thanks to the BitVM Bridge and initiatives like Peg-BTC that connect Bitcoin directly to protocols without the need for wrapping assets.
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In short… why is this exciting?
Bitlayer Labs is not just a project but a paradigm shift in the Bitcoin world: from a simple payment network to a comprehensive decentralized platform enabling applications, smart contracts, and collaboration with global DeFi systems—all with unparalleled security standards.
With strong funding, massive technical support, and notable progress in launching, it can be said that the digital world surrounding Bitcoin is on the brink of a new revolution.
