Bitfinity Bridges Bitcoin and Ethereum with New Layer-2 Mainnet, Raises $12 Million

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Bitfinity Network, a Bitcoin Layer-2 solution compatible with the Ethereum Virtual Machine (EVM), has officially launched its mainnet after raising nearly $12 million. The Layer-2 network aims to bridge the gap between Bitcoin and decentralized finance (DeFi), offering enhanced interoperability and abstraction. Its goal is to bring Bitcoin-native DeFi to a broader audience, making it easier for users to interact with Bitcoin-based decentralized applications (dApps).

Key Features of Bitfinity’s Mainnet

EVM Compatibility

Bitfinity’s EVM compatibility allows developers to deploy Ethereum-based smart contracts on its Bitcoin Layer-2 network, fostering greater interoperability between Bitcoin and Ethereum ecosystems.

Bitgems: Rewarding User Engagement

Bitfinity introduces Bitgems, a feature that rewards users for social interactions. Participants can mine digital gems through a Token Generation Event (TGE) program, encouraging community growth and ecosystem expansion.

👉 Discover how Bitgems enhances user engagement

Institutional Backing & Token Listing

Bitfinity secured $7 million** in a funding round backed by top investors, including Polychain’s Beacon Fund, ParaFi, and Draft Ventures. Its token is now listed on major exchanges like KuCoin, Huobi, and Gate.io, generating **$5 million in OTC sales driven by community participation.

Leveraging ICP’s Chain Fusion Technology

Bitfinity integrates Internet Computer Protocol’s (ICP) Chain Fusion Technology to support Bitcoin-native assets within an EVM-compatible environment. This enables secure development of Bitcoin smart contracts, offering a decentralized and user-controlled ecosystem.

Threshold Signature Scheme

The network uses a threshold signature scheme to create a decentralized bridge to Ethereum, eliminating centralized intermediaries and enhancing security.

Market Impact and Future Potential

Bitfinity’s mainnet launch coincides with rising Bitcoin prices and renewed interest in Bitcoin’s DeFi ecosystem. Institutional attention is growing, positioning Bitfinity as a key player in unlocking Bitcoin’s DeFi potential.

Lomesh Dutta, VP of Growth at Dfinity, highlighted:

“Bitfinity’s EVM compatibility could redefine Bitcoin’s DeFi landscape, bringing scalability, interoperability, and secure solutions to users.”

FAQ Section

Q1: What is Bitfinity’s primary goal?
A1: Bitfinity aims to bridge Bitcoin and DeFi by enabling EVM-compatible smart contracts on its Bitcoin Layer-2 network.

Q2: How does Bitgems work?
A2: Bitgems rewards users for social interactions, allowing them to mine digital gems via a TGE program.

👉 Learn more about Layer-2 innovations

Q3: Which investors backed Bitfinity?
A3: Polychain’s Beacon Fund, ParaFi, Draft Ventures, and 9 Yards Capital participated in its $7 million funding round.

Q4: How does ICP technology enhance Bitfinity?
A4: ICP’s Chain Fusion Technology supports Bitcoin-native assets in an EVM environment, enabling secure smart contract development.

Q5: Where is Bitfinity’s token listed?
A5: The token is available on KuCoin, Huobi, and Gate.io, with $5 million in OTC sales.

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