Track: Bitlayer is a Bitcoin Layer 2 solution, part of the Bitcoin ecosystem expansion and DeFi track, focusing on enhancing Bitcoin's programmability and liquidity through the BitVM paradigm.
Advantages: TVL reaches $398 million, accounting for 31% of the Bitcoin Layer 2 market, leading the industry. Secured $25 million investment from institutions like Franklin Templeton and Polychain Capital, with a valuation of $300 million, showing market recognition. The innovation of BitVM Bridge and Yield BTC products strongly promotes Bitcoin DeFi applications. Mainnet V2 is about to launch, combining ZK and fraud proofs, with broad technical prospects.
Risks: The Bitcoin Layer 2 track is highly competitive (e.g., Core, Merlin). Governance token (BTR) has not yet been issued, and the token economics are unclear. Relies on the development of the Bitcoin ecosystem, and market volatility may affect growth. Investment advice: Worth paying attention to, suitable for investors who are optimistic about Bitcoin's long-term potential and willing to take on the risks of emerging technologies. It is recommended to wait for the Mainnet V2 launch and details of the token issuance before making decisions.
