As the possibility of the Federal Reserve cutting interest rates in September increases, market liquidity will significantly improve, and funds will continue to flow into the Bitcoin market. This influx of funds is bound to drive up the price of Bitcoin and attract the attention of more investors.
When the price of Bitcoin rises, it will trigger the "love the house and the crowd" effect - investors are interested in various projects and applications in the Bitcoin ecosystem. Strong interest. It is foreseeable that this virtuous cycle of improved liquidity and rising Bitcoin prices will lay a solid foundation for the prosperity of the Bitcoin ecosystem.
Looking back before last year's surge, the popularity of Ordinals and the wealth effect brought by inscriptions made the market begin to pay more attention to the Bitcoin ecosystem. As the market gradually recovers, this article will discuss potential currency issuance projects in the Bitcoin ecosystem to help everyone seize new opportunities in the bull market.
01 Project Inventory
L2 Mainnet
1. Bitlayer: Total financing 1,600 million US dollars, invested by Framework Ventures, OKX Ventures and others.
It is the first Bitcoin security equivalent Layer 2 network based on BitVM. It is committed to becoming the computing layer of Bitcoin, introducing super scalability and inheriting Bitcoin. L1 security provides users with a high throughput and low-cost transaction experience.
2. BOB (Build on Bitcoin): Total financing is US$11.6 million, invested by Castle Island, Bankless Ventures and others.
A hybrid Layer 2 that combines the security of Bitcoin with the flexibility of Ethereum smart contracts, supporting Bitcoin ecosystems such as Ordinals, Lightning and Nostr.
3. B² Network:The total financing was not disclosed and was invested by HashKey Capital, OKX Ventures and others.
Bitcoin Layer 2 solution based on zero-knowledge proof, designed to increase transaction speed and expand application diversity, while ensuring security and supporting Turing completeness Smart contracts.
4. BEVM:The total financing was not disclosed and was invested by Skyland Ventures, Waterdrip Capital and others.
A fully decentralized Bitcoin Layer 2 solution, compatible with the Ethereum Virtual Machine (EVM), designed to extend Bitcoin’s smart contract functionality and Use native Bitcoin (BTC) for gas fees.
5. Rollux:The total financing was not disclosed and was invested by Dewhales Capital and others.
A Bitcoin-based EVM-compatible Optimistic Rollup platform, designed to improve Bitcoin’s scalability and smart contract functions, and provide developers with security and low cost decentralized application environment.
L2 testnet
1. Babylon: Total financing is US$96 million, invested by Paradigm, Polychain, Binance Labs, etc.
This protocol is a Bitcoin staking protocol that allows users to lock Bitcoins on the Bitcoin network to provide security for other POS chains while earning staking benefits. .
2. Mezo: Total financing is US$28.5 million, invested by Pantera Capital, Ledger Cathay Capital and others.
The EVM-compatible Bitcoin economic layer aims to promote the circular Bitcoin economy by providing applications that promote the use of Bitcoin tokens, beyond mere "savings" technology".
3. Botanix: Total financing is US$11.5 million, invested by Polychain, ABCDE Capital, etc.
The decentralized Turing-complete L2 EVM built on Bitcoin is composed of two core components: Ethereum Virtual Machine (EVM) and Spiderchain. The security of Bitcoin and the ease of use of EVM.
4. Nubit: Total financing is US$11 million, invested by Polychain, OKX Ventures and others.
The first Bitcoin DA layer, designed to effectively expand the data capacity of Bitcoin and provide support for Ordinals, Layer 2 solutions, oracles and other applications, thereby increasing the scope and efficiency of the Bitcoin ecosystem.
5. Arch Network: Total financing is US$7 million, invested by Multicoin Capital, OKX Ventures and others.
Based on Bitcoin's Layer 2, it uses the Rust-based zero-knowledge virtual machine ArchVM and combines it with a decentralized verifier network to provide developers with an efficient , Scalable application environment.
6. Bitfinity Network: Total financing of US$7 million, invested by Polychain, ParaFi Capital, etc.
An EVM-compatible Bitcoin Layer 2 network that uses the Solidity language and utilizes IC's unique architecture and Chain Key technology to match the storage capacity and processing speed of Traditional network services are equivalent and there is no need to pay gas fees.
7. Zulu Network: Total financing of US$3 million, invested by Waterdrip Capital, Cryptogram Venture and others.
Based on Bitcoin's Layer 2, it uses a unique two-layer architecture to expand the functionality of the Bitcoin network. EVM compatibility is achieved through ZuluPrime (L2), while ZuluNexus (L3) acts as Bitcoin’s third layer, providing additional security guarantees.
8. Citrea: Total financing is US$2.7 million, invested by Galaxy, Delphi Digital, etc.
The first Layer 2 based on zero-knowledge proof in the Bitcoin ecosystem, using a unique two-way peg architecture to achieve the first universal trust minimization in history The Bitcoin Layer 2 solution brings more powerful programmability and application scenarios to Bitcoin.
9. Fractal Bitcoin: The total financing was not disclosed and was developed by UniSat and Block Space Force.
Layer 2 scaling solution based on Bitcoin Core code, designed to increase Bitcoin's transaction processing capabilities and speed by recursively creating infinite layers while maintaining the same Full compatibility with the Bitcoin main chain.
L2 Pre test network
1. Lorenzo Protocol:The total financing has not been disclosed and is invested by Binance Labs and others.
Based on Babylon's decentralized liquidity staking platform, it aims to provide users with safe and convenient Bitcoin staking services. The protocol allows users to stake Bitcoin and receive liquid staking tokens through a liquidity finance layer.
2. QED Protocol: Total financing is US$9 million, invested by Blockchain Capital, Arrington Capital, etc.
ZK native execution layer based on Bitcoin, focusing on zero-knowledge proof verification technology, supporting decentralized exchanges, DeFi, etc. on Bitcoin through Taproot upgrade Widely used, it promises high-speed transactions and global state access.
3. GOAT Network: Total financing of US$5 million, invested by Metis Foundation and others.
The first Bitcoin Layer 2 solution to share ownership and mining rewards through a decentralized sequencer, introducing unique OP technology through Bitcoin Rollup Expanding the Bitcoin network.
4. Nexio: Total financing is US$2.2 million, invested by Lattice Capital, HTX Ventures and others.
An innovative Bitcoin scaling solution that utilizes parallelized Rollup technology and aims to support more than 30,000 transactions per second while keeping handling fees at $0.01 the following.
DeFi Mainnet
SolvProtocol: Total financing is US$10 million, invested by Binance Labs, The Spartan Group and others.
A full-chain basic income protocol that provides currency-based asset income growth services. Users can deposit BTC into Solv Protocol to obtain Solvbtc.
DeFi Testnet
1. BitSmiley: The total financing has not been disclosed and is invested by ABCDE Capital, OKX Ventures and others.
A stablecoin lending protocol based on the Bitcoin ecosystem, combining an over-collateralized stablecoin protocol, a trustless loan protocol and a derivatives protocol, filling the gap of Bitcoin The demand for stablecoins and lending infrastructure in the ecosystem.
2. Chakra:The total financing was not disclosed and was invested by ABCDE Capital, Bixin Ventures and others.
The Bitcoin re-pledge protocol driven by zero-knowledge proofs uses ZK-STARKs technology and middleware chains to solve the trust problem with intermediaries. A partnership has been established with data availability layer Nubit to enhance the Bitcoin ecosystem in a modular way.
DeFi Pre Testnet
Lombard: Total financing is US$16 million, invested by Polychain, OKX Ventures and others.
A Bitcoin re-staking protocol that advances the Bitcoin staking ecosystem by allowing users to move yield-generating Bitcoin across chains without fragmenting liquidity development.
RGB+Lightning Network Mainnet
BiHelix: The total financing was not disclosed and was invested by Waterdrip Capital, LK Venture, UTXO, Satoshi Labs and others.
A Bitcoin ecological infrastructure based on the Bitcoin native blockchain, combined with the RGB protocol and the Lightning Network to build optimized nodes. This project aims to lower the development threshold and increase the application scenarios of Bitcoin.
RGB++ Pre test network
UTXO Stack:The total financing was not disclosed and was invested by ABCDE Capital, OKX Ventures and others.
The Bitcoin Layer 2 issuance platform is based on the UTXO model and natively integrates RGB++ protocol capabilities, aiming to help developers quickly deploy applications based on the UTXO architecture.
L3 Mainnet
U Protocol: The total financing has not been disclosed and is invested by Alfa DAO, YAM DAO and others.
The first BitcoinFi modular Layer 3 infrastructure, providing functions such as uBTC and U Bitcoin Thunder Network, is committed to improving the liquidity and application scenarios of Bitcoin.
02 Summary
From a higher perspective, the value narrative of Bitcoin (BTC) has been developing for more than ten years, and its function as a store of value is now widely recognized.
Regulatory policies, the launch of ETFs, and interest rate cuts and other macroeconomic factors have had a significant impact on its market performance, indicating that Bitcoin is gradually becoming the basis for traditional institutional asset allocation One of the important targets.
As Bitcoin's value storage attribute is widely recognized by society, its derivative financial products and innovations will become increasingly abundant.
Although Layer 2 solutions may face expansion problems, and the challenges based on the UTXO mechanism cannot be underestimated, the Bitcoin track will continue to improve and develop. It is inevitable for the industry and for social development.
XingChi
