Coinspeaker
Bitfinity Launches Bitcoin Layer 2 Solution with $12M Funding
On November 19, 2024, Bitfinity Network entered the Bitcoin ecosystem with the official introduction of its Bitcoin Layer 2 (L2) solution. Backed by $12 million in funding, the initiative aims to integrate Ethereum-compatible decentralized finance (DeFi) capabilities into Bitcoin, expanding its utility beyond serving as a store of value.
The project has attracted robust institutional backing, with key investors such as Polychain and ParaFi offering substantial support earlier in the year. Furthermore, it secured an additional $5 million through over-the-counter (OTC) token sales, fueled predominantly by grassroots contributions from the Bitcoin community.
Bitfinity’s Bitcoin L2 Boosts Scalability and Versatility
The launch of Bitfinity’s Bitcoin Layer 2 solution represents a pivotal advancement in Bitcoin’s scalability and functionality. Utilizing Internet Computer Protocol’s (ICP) Chain
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