DLC.Link is pleased to announce that it has been awarded a grant from the Arbitrum Foundation. This grant comes after DLC.Link’s decentralized wrapped Bitcoin, dlcBTC, reached $1 million in Total Value Locked (TVL) within the first month of launch.
In April 2024, dlcBTC debuted on Arbitrum, becoming the first decentralized wrapped BTC on the network. Arbitrum is known for being the leading Ethereum Layer 2 (L2) scaling solution, with the highest TVL among all L2 networks. dlcBTC users can benefit greatly from the network's low gas fees and Ethereum's strong security features.
Grants
The Arbitrum Foundation's grant program aims to foster the growth of the ecosystem by allocating funds to projects that have the potential to have a significant impact. Grants will be awarded to initiatives that increase adoption, strengthen the technical foundation, and promote sustainable community development within the Arbitrum ecosystem.
DLC.Link received this funding in the first phase of the program, marking its rapid achievement of $1 million TVL in just one month after its launch. This milestone highlights DLC.Link’s unique potential and vision in the decentralized finance (DeFi) space.
What this funding means for us
Receiving this grant places DLC.Link among a select group of projects supported by the Arbitrum Foundation, highlighting the significant impact of our innovative approach and technology. The financial support and recognition from the Arbitrum Foundation supports our mission to redefine DeFi with Bitcoin.
This grant comes at a great time as we are actively working with more acceptors, liquidity providers, node operators, and DeFi protocols on the Arbitrum Network. Our goal is to expand our product offering and strengthen our market position to make dlcBTC a key asset in the DeFi ecosystem.
About Arbitrum Foundation
The Arbitrum Foundation is dedicated to supporting the development and adoption of the Arbitrum protocol. Developed by Offchain Labs, Arbitrum is a layer 2 scaling solution for Ethereum that enhances its scalability and efficiency.
About DLC.Link
DLC.Link leverages the power of Discreet Log Contracts (DLCs) to build a theft-proof bridge between Bitcoin and Ethereum. In 2024, DLC.Link launched dlcBTC, enabling depositors to self-wrap Bitcoin into DeFi on Ethereum while retaining full custody of their assets. This innovation changes the role of Bitcoin in DeFi, enabling depositors to participate in trading, lending, and hedging while maintaining self-sovereignty.
