Deep Tide TechFlow News, on November 19, according to Cointelegraph, Bitcoin L2 solution Bitfinity Network announced the completion of a $12 million financing, 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 community over-the-counter (OTC) token sales. The project will utilize Internet Computer Protocol (ICP) Chain Fusion technology to enable the operation of Bitcoin native assets in an Ethereum-compatible ecosystem.
A project spokesperson stated that Bitfinity employs a proof-of-stake protocol and Chain-Key technology to enhance network security, supporting a large signature committee for processing Bitcoin Schnorr and ECDSA transactions. The ecosystem plans to host decentralized applications including Sonic, Chapswap, Lendfinity, and Omnity Bridge. Notably, the founders of the lending protocol Liquity, which has a $1 billion TVL, are also involved in supporting this project.
