BEVM Bitcoin Layer2 Closes Seed Round with RockTree Capital, Sathoshi Lab & 20 Others
The Bitcoin Layer2 project BEVM has announced the completion of its seed round, and also a part of its Series A round, raising tens of million USD.
The 20+ investors include RockTree Capital, Waterdrip Capital, Arkstream Capital, ViaBTC Capital, Satoshi Lab, Web3port, Cogitent Ventures, MH Ventures, Mapleblock, Electrum Capital, Zephyrus Capital, Lotus Capital, 7UPDAO, TimeTells plus others. BEVM’s Series A valuation reached $200 million and accelerates the project’s international development and roll-out.
BEVM is the first EVM-compatible Bitcoin Layer2 network built on Taproot Consensus and uses $BTC as gas, aiming to bring 10% of $BTC into its Layer2 network environment. BEVM’s testnet Canary network went live in July 2023, which to date has nearly 100,000 on-chain users, processed over 6 million transactions and currently has more than 30 ecosystem projects. BEVM’s mainnet is scheduled to launch on March 28th.
Gavin Guo, Core Builder of BEVM said “Taproot Consensus is the final result of our team’s six years of exploring Bitcoin Layer2 solutions. BEVM architecture is the most native and decentralized implementation of Bitcoin primitive & ethos into a Layer2, with the complete BEVM product shipped to the community based on MuSig2 + Bitcoin SPVs. BEVM is currently the most decentralized and secure BTC layer2 solution.”
BEVM has already implemented decentralized Bitcoin cross-chain custody services through Schnorr Signature, MAST and Bitcoin SPVs. In the future, BEVM will also launch “ BEVM-Stack ” to help developers launch ‘BTC layer2’ with one click; and will launch the DBFX protocol to allow $BTC to circulate on any chain in a decentralized manner.
Omer Ozden, Chairman of RockTree Capital said “We
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