Liquidium Raises $2.5M, Accelerating L1 Borrowing and Lending
Bitcoin VCs continue to fund Bitcoin Builders
Hello Bitcoin Builders,
It’s never a slow week in Bitcoin. This week, Liquidium raised $2.5M. Liquidium allows you to borrow Bitcoin using your Bitcoin assets like ordinals, BRC-20s, or Runes as collateral.
On the flip side, it also allows lenders to earn yield on their BTC.
The lending and borrowing all take place on the Layer 1 — it’s facilitated through Partially Signed Bitcoin Transactions (PSBTs) and Discreet Log Contracts (DLCs).
They already have traction — $129M in total loan volume and 31k loans.
Layers
We mentioned it last week, but this story is significant — BitcoinOS verified the first ZK-proof on the BTC mainnet. Cointelegraph and Blockworks cover the story.
The top Bitcoin Layers are starting to surface — Bitlayer, BOB, Merlin, Rootstock, and Stacks. Data via Signal21.
Galaxy writes a research report on data availability on Bitcoin. In summary, Rollups on Bitcoin would need a lot of L2 transactions for them to be economically viable.
Alby, a Lightning Application, is in the spotlight. The Founder aims to bring Lightning to all web applications.
Layer 1 and Meta Protocols
Ego Death Capital raises over $43 million to support Bitcoin Builders.
VCs are coming back to Bitcoin. But it’s still early. Bitcoin Magazine reports, “Bitcoin investments only represented 3.1% of the total deal flow or $96.4M in Q2 2024.”
Lava — a Bitcoin app that lets you save in Bitcoin and spend in dollars — raises a seed round.
Other
Bitcoin 2024 in Nashville was a huge success — Trump gave a speech embracing Bitcoin.
Senator Lummis introduces a Strategic Bitcoin Reserve Legislation Bill to Congress