bitfinity

ChainCatcher news, according to Cointelegraph, the Bitcoin L2 solution Bitfinity Network has announced the completion of a $12 million funding round, which includes $7 million invested by institutions such as Polychain Beacon Fund, ParaFi, Draft Ventures, and Warburg Serres, as well as $5 million raised through a community over-the-counter (OTC) token sale.The project will utilize the Chain Fusion technology of the Internet Computer Protocol (ICP) to enable the operation of Bitcoin native assets within the Ethereum-compatible ecosystem. The ecosystem plans to host decentralized applications including Sonic, Chapswap, Lendfinity, and Omnity Bridge. Notably, the founder of the lending protocol Liquity, which has a TVL of one billion dollars, is also involved in supporting this project.According to RootData, Bitfinity (formerly known as InfinitySwap) is the next-generation EVM that acts as a second layer for Bitcoin and other assets, utilizing threshold signature schemes and built on IC.

ChainCatcher news, the Bitcoin Layer 2 network Bitfinity has launched its virtual machine Bitfinity EVM to introduce smart contracts into the Bitcoin protocol and utilize Runes to support Bitcoin decentralized finance (DeFi) applications. The Bitfinity EVM is designed to allow developers to deploy Bitcoin-based Solidity smart contracts, enabling them to transfer BTC, Ordinals, and Runes.

ChainCatcher news, according to The Block, the Bitcoin Layer 2 network Bitfinity based on Internet Computer has completed a $7 million financing round at a valuation of $130 million, with participation from Polychain Capital, ParaFi Capital, Warburg Serres, Dokia Capital, and Draft Ventures.Bitfinity co-founder Max Chamberlin stated that the funding was achieved in two parts—approximately $1 million in a seed round in 2021, and another round completed last June, both of which were token financings. By the time of the second financing, Bitfinity's valuation had reached $130 million. Currently, Bitfinity is in the testnet phase and plans to launch its mainnet later this month or in early February.