VCs inject another $11.5M into the Bitcoin Builder Ecosystem
Bitcoin Builders continue to attract capital
Hello Bitcoin Builders!
The Bitcoin builder ecosystem continues to get funded. Botanix Labs raised $11.5M this week.
Botanix is building the Spiderchain, which is:
a set of decentralized multisigs that secure all the actual bitcoin on Botanix. The Spiderchain pioneers "decentralized multisigs" that consists of a distributed network of multisigs, safeguarded by a randomized subset of participants, making it a truly decentralized protection mechanism.
VC funding is essential for the Bitcoin builder ecosystem to thrive. It means more teams can continue to invest their time and energy in building on Bitcoin.
Bitcoin Layers
Hermetica introduces USDh, a synthetic dollar on Bitcoin. Like Ethena, Hermetica aims to build a synthetic dollar that exists outside of the traditional banking system.
Bitcoin Layers completes its risk analysis of Rootstock and BOB.
Sovryn launched DEX 2.0 on BOB — live features include swaps, AMM LPs with Spice and Rune points + trading fees, and SOV staking on BOB.
Eric Wall joins Bankless to give an overview of the Bitcoin L2 space. The entire podcast is worth listening to, but his insights on BitVM are interesting. Wall makes the general case that BitVM is not a silver bullet for scaling Bitcoin, and he’s a strong proponent of OP_CAT.
Layer 1 and Meta Protocols
"OP_CAT is way bigger than I originally understood."
The introduction of opcode OP_CAT is gaining momentum and support with BIP420.
We asked Perplexity to summarize OP_CAT so you don’t have to.
Other News
Bitcoiners come together for Bitcoin Asia, the largest Bitcoin conference. Read more via Bitcoin.com.
Are we past peak Warren? US House passes the pro-Bitcoin SAB-121 repeal