Singapore, Singapore, April 3rd, 2024, Chainwire

Bitlayer Labs, the creator of the BitVM-based Bitcoin Layer 2 solution, has concluded a $5 million seed funding round led by Framework Ventures and ABCDE Capital. The funding was also joined by StarkWare, OKX Ventures, Alliance DAO, UTXO Management, Asymmetric Capital, and other participants. Bitlayer Labs is preparing to launch the Ready Player One program, inviting developers globally to contribute to the protocol.

The investment round saw the participation of key investors like Framework Ventures, ABCDE Capital, StarkWare, and many others. Notable angel investors also joined the fundraising, recognizing the potential of Bitlayer in advancing the Bitcoin Layer 2 ecosystem.

The funding will assist Bitlayer in expanding its team and driving global growth efforts. With the support of investors and ecosystem partners, Bitlayer aims to establish a more scalable and interconnected Bitcoin ecosystem.

Investors like Roy Learner from Framework Ventures and Qiao Wang from Alliance DAO have expressed their confidence in Bitlayer's vision and capability to enhance Bitcoin's expressiveness and scalability. The support from investors and partners further strengthens Bitlayer's position in the Bitcoin Layer 2 space.

Bitlayer is poised to lead the way in developing Bitcoin Layer 2 use cases, with the ambition to surpass other blockchains in terms of scale, size, and security. The funding received will support Bitlayer's goal to provide users with efficient fee rates and fast transactions while upholding Bitcoin's security foundation.

As the Bitcoin halving event approaches, Bitlayer is gearing up for its public mainnet launch on April 5th. The platform has undergone rigorous security auditing to ensure a secure ecosystem for builders and users.

The Ready Player One program is a key initiative announced by Bitlayer to incentivize projects to deploy on its mainnet. The program, offering token rewards valued at over $50 million, aims to attract strong projects to join the ecosystem and contribute to Bitlayer's growth.

Bitlayer remains committed to providing comprehensive support for all projects deploying on its mainnet. Offerings include potential investment, liquidity support, product development resources, mentorship, and collaboration opportunities with the Bitcoin community.

For more details, visit the full article.

About Bitlayer

Bitlayer is the first Bitcoin Layer 2 network developed on BitVM, prioritizing scalability and security within the Bitcoin ecosystem. The platform offers users high throughput and a cost-effective transaction experience while maintaining Bitcoin's level of security.

Contact

Digital Marketing Manager
Sky Harris
Bitlayer
[email protected]

Disclaimer. This is a paid press release. CoinMarketCap does not recommend that any cryptocurrency should be bought, sold, or held. We advise conducting your own due diligence and seeking advice from a financial advisor before making any investment decisions.