**Bitlayer Labs** is a **Layer 2 project on Bitcoin**, using **BitVM** to enhance scalability, reduce transaction fees, and support smart contracts, DeFi, NFT, GameFi. Mainnet V1 launched (4/2024), raising approximately 30 million USD from Franklin Templeton, Polychain Capital, etc., with a TVL exceeding 550 million USD. The **BTR** token is set to be released, supporting staking and governance. Mainnet V2 (expected Q4/2024) will use **OpVM** to enhance security.
