VC Funding for Bitcoin Layers is Heating Up
VC dollars continue to flood the Bitcoin ecosystem, validating the vision of Bitcoin Builders
Hi Bitcoin Builders,
It was a big week in fundraising. ALEX and Building On Bitcoin (BOB) both announced $10M funding rounds.
ALEX is building the finance layer for Bitcoin. They leverage the Stacks Bitcoin L2, bridges, and oracles to bring DeFi to Bitcoin. Read their feature in The Block.
BOB’s mission is to build the first hybrid L2 — ”a blend of Bitcoin's security and Ethereum's innovation.” Read their announcement.
These funding rounds highlight the continued momentum for Bitcoin Builders.
Meta Protocols and Layer 1
Casey Rodarmor, the creator of Ordinals and Runes, shares his thoughts on Runes protocol messages. Runes developers are actively building to create an improved version of the popular BRC-20 token standard.
Bitcoin Layers
Super Testnet, a developer focusing on Bitcoin and the Lightning Network, introduced Hedgehog, a new protocol for asynchronous layer 2 bitcoin payments. Unlike the Lightning Network, Hedgehog allows transactions between parties even if one is offline.
Robin Linus, creator of BitVM and ZeroSync, announces they may have created a way to overcome BitVM’s primary limitation and allow for permissionless verification.
Core, a Bitcoin-powered, EVM-compatible layer one blockchain, announces that MulitBit and BitStable will be live on the Core chain. These protocols will enhance Bitcoin ecosystem liquidity. Core combines Bitcoin's mining hash rate with a Delegated Proof-of-Stake (DPoS) system.
Velar, a DeFi Liquidity Protocol on Bitcoin, launches on Bybit, a top crypto exchange. They also launched their AMM, with trading pairs across the Stacks ecosystem.
More:
B Squared partners with BitSmiley, the inventor of bitUSD, a Bitcoin stablecoin.
Babylon summarizes Bitcoin Renaissance, a Bitcoin conference at ETH Denver.