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Before the bull market breaks out in the second half of the year, you need to know about these unissued BTC projects

Before the bull market breaks out in the second half of the year, you need to know about these unissued BTC projects

BlockBeatsBlockBeats2024/08/16 10:02
By:BlockBeats

These projects involve Bitcoin Layer 2 solutions, DeFi protocols, Bitcoin re-pledge protocols, etc., aiming to improve Bitcoin's scalability, security, smart contract functions, etc., and promote the prosperity of the Bitcoin ecosystem.

Original title: "The bull market broke out in the second half of the year, you must know about the unissued BTC ecological projects"
Original author: Viee, Biteye


With the increasing possibility of the Federal Reserve starting to cut interest rates in September, market liquidity will improve significantly, and funds will continue to flow into the Bitcoin market. This wave of capital influx is bound to drive up the price of Bitcoin and attract more investors.


When the price of Bitcoin rises, it will trigger the "love the house and the dog" effect-investors will have a strong interest in various projects and applications in the Bitcoin ecosystem. It can be foreseen 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 at the popularity of Ordinals and the wealth effect brought by inscriptions before the big rise last year, the market began to pay more attention to the Bitcoin ecosystem. As the market gradually warms up, this article will explore the potential coin 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 of 16 million US dollars, invested by Framework Ventures, OKX Ventures, etc.


It is the first Bitcoin security-equivalent Layer2 network based on BitVM, committed to becoming the computing layer of Bitcoin, introducing ultra-scalability and inheriting Bitcoin's L1 security, providing users with high throughput and low-cost transaction experience.


2. BOB (Build on Bitcoin):Total financing of 11.6 million US dollars, invested by Castle Island, Bankless Ventures, etc.


A hybrid Layer2 that combines the security of Bitcoin and the flexibility of Ethereum smart contracts, supporting Bitcoin ecosystems such as Ordinals, Lightning and Nostr.


3. B² Network: Total financing was not disclosed, invested by HashKey Capital, OKX Ventures, etc.


A Bitcoin Layer 2 solution based on zero-knowledge proof, designed to increase transaction speed and expand application diversity while ensuring security and supporting Turing-complete smart contracts.


4. BEVM:Total financing has not been disclosed, invested by Skyland Ventures, Waterdrip Capital, etc.


A fully decentralized Bitcoin Layer 2 solution, compatible with the Ethereum Virtual Machine (EVM), designed to expand Bitcoin's smart contract capabilities and use native Bitcoin (BTC) as fuel fees.


5. Rollux:Total financing has not been disclosed, invested by Dewhales Capital, etc.


A Bitcoin-based EVM-compatible Optimistic Rollup platform, designed to improve Bitcoin's scalability and smart contract capabilities, and provide developers with a secure, low-cost decentralized application environment.


L2 Testnet


1. Babylon:Total financing of US$96 million, invested by Paradigm, Polychain, Binance Labs, etc.


The protocol is a Bitcoin pledge protocol that allows users to lock Bitcoin in the Bitcoin network to provide security for other POS chains while obtaining pledge income.


2. Mezo:Total financing of US$28.5 million, invested by Pantera Capital, Ledger Cathay Capital, etc.


The EVM-compatible Bitcoin economic layer aims to promote the circular Bitcoin economy by providing applications that promote the use of Bitcoin tokens, beyond the simple "savings technology".


3. Botanix:Total financing of US$11.5 million, invested by Polychain, ABCDE Capital, etc.


A decentralized Turing-complete L2 EVM built on Bitcoin, consisting of two core components, the Ethereum Virtual Machine (EVM) and Spiderchain, combining the security of Bitcoin with the ease of use of EVM.


4. Nubit:Total financing of US$11 million, invested by Polychain, OKX Ventures, etc.


The first Bitcoin DA layer aims to effectively expand Bitcoin's data capacity and provide support for applications such as Ordinals, Layer 2 solutions, and oracles, thereby increasing the scope and efficiency of the Bitcoin ecosystem.


5. Arch Network: Total financing of US$7 million, invested by Multicoin Capital, OKX Ventures, etc.


Based on Bitcoin's Layer 2, it uses the Rust-based zero-knowledge virtual machine ArchVM, combined with a decentralized validator network, to provide developers with an efficient and 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, using the Solidity language and utilizing IC's unique architecture and Chain Key technology, is comparable to traditional network services in terms of storage capacity and processing speed, without the need to pay gas fees.


7. Zulu Network: Total financing of $3 million, invested by Waterdrip Capital, Cryptogram Venture, etc.


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) serves as the third layer of Bitcoin, providing additional security guarantees.


8. Citrea: Total financing of $2.7 million, invested by Galaxy, Delphi Digital, etc.


The first zero-knowledge proof-based Layer 2 in the Bitcoin ecosystem uses a unique two-way hook architecture, realizing the first universal trust-minimized Bitcoin Layer 2 solution in history, bringing more powerful programmability and application scenarios to Bitcoin.


9. Fractal Bitcoin:Total financing was not disclosed, and it was jointly developed by UniSat and Block Space Force.


A Layer 2 expansion solution based on the Bitcoin Core code, designed to increase Bitcoin's transaction processing capacity and speed by recursively creating infinite layers while maintaining full compatibility with the Bitcoin main chain.


L2 Pre Testnet


1. Lorenzo Protocol:Total financing is not disclosed, invested by Binance Labs and others.


A decentralized liquidity staking platform based on Babylon, designed to provide users with safe and convenient Bitcoin staking services. The protocol allows users to stake Bitcoin and obtain liquidity staking tokens through a liquid financial layer.


2. QED Protocol:Total financing of US$9 million, invested by Blockchain Capital, Arrington Capital and others.


Based on Bitcoin's zk native execution layer, it focuses on zero-knowledge proof verification technology. Through Taproot upgrades, it supports a wide range of applications such as decentralized exchanges and DeFi on Bitcoin, and promises to provide 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 that shares ownership and mining rewards through a decentralized sorter, introduces unique OP technology, and expands the Bitcoin network through Bitcoin Rollup.


4. Nexio:Total financing of US$2.2 million, invested by Lattice Capital, HTX Ventures and others.


An innovative Bitcoin scaling solution that leverages parallelized Rollup technology to support more than 30,000 transactions per second while keeping fees below $0.01.


DeFi Mainnet


SolvProtocol:Total financing of $10 million, invested by Binance Labs, The Spartan Group, etc.


A full-chain basic income protocol that provides currency-based asset income-increasing services. Users can deposit BTC into Solv Protocol to obtain Solvbtc.


DeFi Testnet


1. BitSmiley:Total financing has not been disclosed, invested by ABCDE Capital, OKX Ventures, etc.


A stablecoin lending protocol based on the Bitcoin ecosystem, combining over-collateralized stablecoin protocols, trustless loan protocols, and derivatives protocols, filling the demand for stablecoins and lending infrastructure in the Bitcoin ecosystem.


2. Chakra:Total financing has not been disclosed, invested by ABCDE Capital, Bixin Ventures, etc.


A Bitcoin re-pledge protocol driven by zero-knowledge proof, using ZK-STARKs technology and middleware chains to solve the trust problem with intermediaries. Established a partnership with the data availability layer Nubit to enhance the Bitcoin ecosystem in a modular way.


DeFi Pre Testnet


Lombard:Total financing of $16 million, invested by Polychain, OKX Ventures, etc.


A Bitcoin re-staking protocol that promotes the development of the Bitcoin staking ecosystem by allowing users to move Bitcoin that generates income across chains without dispersing liquidity.


RGB+Lightning Network Mainnet


BiHelix:Total financing is not disclosed, invested by Waterdrip Capital, LK Venture, UTXO, Satoshi Labs, etc.


A Bitcoin ecological infrastructure based on the Bitcoin native blockchain, combining the RGB protocol and the Lightning Network to build optimized nodes. The project aims to lower the development threshold and increase the application scenarios of Bitcoin.


RGB++ Pre Testnet


UTXO Stack:Total financing has not been disclosed, invested by ABCDE Capital, OKX Ventures, etc.


Bitcoin Layer 2 issuance platform based on the UTXO model, and natively integrated with RGB++ protocol capabilities, designed to help developers quickly deploy applications based on the UTXO architecture.


L3 Mainnet


U Protocol:Total financing is not disclosed, invested by Alfa DAO, YAM DAO, etc.


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 gone through more than ten years of development, and now its function as a store of value has been widely recognized.


Macroeconomic factors such as regulatory policies, the launch of ETFs, and interest rate cuts have had a significant impact on its market performance, indicating that Bitcoin is gradually becoming one of the important targets of traditional institutional asset allocation.


As Bitcoin's value storage properties are widely recognized by society, its derivative financial products and innovations will become more abundant.


Although Layer 2 solutions may face expansion issues, and the challenges based on the UTXO mechanism cannot be underestimated, the Bitcoin track will continue to improve and develop. This is inevitable for the industry and for social development.


Risk warning: Crypto assets have higher risks. The above is only for information sharing, not investment advice.


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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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