According to Cointelegraph, the Bitcoin Layer2 solution Bitfinity Network has launched and completed a $12 million funding round, aimed at creating decentralized finance (DeFi) capabilities for Bitcoin that are compatible with the Ethereum Virtual Machine (EVM). This funding round included $7 million from notable supporters, including Polychain Beacon Fund, ParaFi, Draft Ventures, and Warburg Serres, while an additional $5 million came from an over-the-counter token sale.

It is reported that Bitfinity Network will leverage the chain integration technology of the Internet Computer Protocol (ICP) to enable Bitcoin's native assets to "operate within an Ethereum-compatible ecosystem"; additionally, the security of its L2 network is enhanced by "utilizing a robust proof-of-stake protocol that employs Chain-Key technology."