Will Bitcoin L2s be Bitcoin's DeFi summer?

Meter.io announced on X platform that Meter Network has become a candidate for the Mirror Staking Protocol network node election, supporting the decentralization, security, and EVM compatibility of the Mirror ecosystem. Through this partnership, Meter.io aims to contribute to the Bitcoin L2 solution, enhance scalability and interoperability within the blockchain field. Using mBTC to achieve EVM compatibility helps seamlessly integrate with other EVM-compatible L2 networks, promoting wider adoption and practicality.

Bitlayer, a Bitcoin Layer2 infrastructure project based on the BitVM paradigm, announced the launch of a $50 million ecological incentive plan to promote the development of its mainnet ecosystem. The first phase of the incentive program, named "Ready Player One," will begin registration at 09:00 UTC on March 29th, 2024 and end at 09:00 UTC on April 29th, 2024, and will officially start after the Bitlayer mainnet is launched. Specific rules and reward allocation guidelines for the event will be disclosed in subsequent announcements. Through the "Ready Player One" and other ecological incentive plans, Bitlayer aims to accelerate ecosystem development and incentivize projects to deploy on the Bitlayer mainnet. In addition, Bitlayer promises comprehensive ecosystem support for all projects, including potential foundation and institutional investment, initial liquidity support, comprehensive product development resources, guidance and investment opportunities from top incubators, support from the Bitcoin community and OGs, ecosystem cooperation, and co-creation.

The Bitcoin ecosystem DeFi project, bitSmiley, has initiated its closed beta testing event. The theme of this closed beta testing is "Return to Testnet: Invite Only, for Real Users" aiming to bring the testnet back to its authentic nature and gather first-hand user experience feedback through testing. This testnet event adopts a targeted invitation system. bitSmiley has invited a total of 150 beta testers, including industry OGs, KOLs, and active community members. Currently, bitSmiley has completed deployments on BTC L2 Merlin Testnet, Bob Testnet, and Botanix Testnet, and will continue to onboard other BTC L2 networks.

Bitcoin's L2 narrative is scaling up quickly

Justin Sun, a member of the Huobi HTX Global Advisory Committee, announced on social media that TRON will launch its Bitcoin Layer 2 solution. This integration will not only connect TRON with Bitcoin, but also promote the flow of funds into the Bitcoin network, injecting financial vitality into Bitcoin.

The Bitcoin Layer2 BSquared Network's staking activity "Buzz" has been online for three days and its TVL has exceeded $50 million. At the same time, the total number of addresses on the Haven beta test network has exceeded 600,000.

This year, we returned with 8 high-quality projects in the BTC Ecosystem. On January 31st, 2024, ABCDE’s second Demo Day is scheduled, welcoming over 80 investors. These 8 projects, carefully selected from various sectors including Layer 2, Statechain, Staking, DA, Liquidity Layer, Launchpad, etc., showcase the diversity and innovation in our field.

On January 31st, 2024, ABCDE’s second Demo Day is scheduled, welcoming over 80 investors. These 8 projects, carefully selected from various sectors including Layer 2, Statechain, Staking, DA, Liquidity Layer, Launchpad, etc., showcase the diversity and innovation in our field.

BSquared Network (B^2 Network) is a leading Layer 2 project on BTC, successfully introducing smart contracts to BTC, which unlocked Bitcoin’s $832 billion market potential. The project provides a new platform for innovative applications in the BTC ecosystem such as DeFi, NFTs, BTC derivatives, and more.