Nexio raises a $2.2M Pre-Seed

Nexio plans to bring Facebook's Move Virtual Machine to Bitcoin

Hi Bitcoin Builders,

It’s been a volatile week for Bitcoin’s price. But Bitcoin Builders never stop.

This week, Nexio announced a $2.2M pre-seed raise led by Lattice to bring Facebook's Move Virtual Machine (MoveVM) to Bitcoin.

Nexio is a parallelized Bitcoin Rollup. It aims to enable 30k TPS and gas below $0.01.

Using the Movement SDK, “Nexio makes it easy for developers to build on Bitcoin using Aptos Move, Sui Move, and Solidity.”

At Bitcoin Builders Association, we like to highlight fundraising announcements as it shows that builders will be spending their time improving the Bitcoin ecosystem.

Layer 1 and Meta Protocols

• Bob Bodily summarizes OP_NET — a new Bitcoin-Aligned Smart Contract Meta-Protocol.

Layers

• Speed — a Bitcoin lightning payment platform — introduces USDT-L: a Stablecoin on the Lightning Network.

• Blockspace Media announces OP_NEXT — a technical and workshop-heavy conference exploring Bitcoin's next soft fork.

• A fundraising announcement we missed from mid-July — Bima Labs raises a $2.25 million seed round. Bima is bringing stablecoins to Bitcoin.

• Bitcoin Startup Lab announces the 2024 Bitcoin Olympics Hackathon — a Bitcoin hackathon with a prize pool exceeding $500,000!

Other

• Bitcoin price hit below $50k for the first time in 6 months only to climb back over $60k by the end of the week.