Original author: 0xewwierw
Introduction
As the FOMO sentiment of Bitcoin Layer 2 fades, projects that continue to invest sincerity in infrastructure and user-friendliness may become the ultimate winners.
According to data from the BitVM Chinese community, there are more than 50 documented Bitcoin Layer 2 projects on the market, some of which have been under construction since 2013, and some of which were launched this year, covering sub-categories such as sidechains and Rollups. In this fierce market competition, Bitlayer, a native Bitcoin Layer 2 network based on BitVm technology, is relying on its own technological innovation and continuous ecological construction to become the fastest growing Layer 2 project in the Bitcoin ecosystem.
As a Bitcoin second-layer solution based on BitVM, Bitlayer proposed the Layered Virtual Machine technology, which uses zero-knowledge proof and optimistic verification mechanism to support various types of calculations. In addition, Bitlayer builds a dual-channel bidirectional locked asset bridge through OP-DLC and BitVM bridge, thereby achieving the same security as Bitcoin's first layer.
Above technological innovation is ecology. A good ecology can promote project development and progress, and form a positive cycle, motivating more projects and resources to invest in ecological construction. On April 29 this year, Bitlayer launched a $50 million token airdrop incentive for developers, attracting developers to migrate to EVM and support Bitlayer's native Dapp. At the same time, it encourages project parties to distribute the airdrops they receive to active users on the chain to complete the cold start at the lowest cost.
At present, Bitlayer's developer airdrop plan has begun to bear fruit. The following figure is a panoramic view of the ecology recently released by Bitlayer officials. From the figure, we can see that although the Bitlayer ecology is still in a relatively early stage, it shows a trend of vigorous development.
Official data shows that hundreds of projects are currently being built in the Bitlayer network, covering infrastructure and developer tools, wallets, DeFi, NFT, games and metaverse, as well as RWA and many other sections. There are relatively mature infrastructure projects such as Ankr, Polyhedra Network, Meson, Apro, imToken, which pave the way for Bitlayer to attract users, as well as Bitlayer native applications such as Bitsmiley, Avalon Finance, bitCow, Lorenzo, Pell, Bitparty, Enzo and Marcaron, which demonstrate the development potential of the entire ecosystem.
The following article will briefly introduce the important projects in the current Bitlayer ecosystem. The data related to TVL was obtained on June 19th. We hope it will be helpful to users who are concerned about the Bitlayer ecosystem.
DeFi
Avalon Finance
Avalon Finance is an important solution to unlock trillions of dollars of BTC, providing the first CeDeFi lending platform, allowing BTC holders to trust custody services while unlocking BTC liquidity and earning interest in DeFi. Avalon Finance aggregates all liquidity and introduces a variety of assets including BTC, ERC 20, BRC 20, BTC ETFs, and real-world assets (RWA), opening the door to millions of new users. Currently, Avalon Finance's products include CeDeFi BTC lending and DeFi lending (applicable to ERC 20, BRC 20, and RWA assets).
Current TVL: $287.13M
bitSmiley
bitSmiley is a Bitcoin blockchain protocol based on the Fintegra framework, consisting of three main components: a decentralized overcollateralized stablecoin protocol; a local trustless lending protocol, and a derivatives protocol. Together, these components provide a comprehensive financial ecosystem on the Bitcoin blockchain, enhancing its functionality and practicality in the field of decentralized finance (DeFi).
Current TVL: $33.83M
Lorenzo
Lorenzo is committed to building the first Bitcoin liquidity financial layer based on the Babylon ecosystem. The platform connects Bitcoin pledgers (regardless of the size of their holdings) with high-quality projects that need liquidity and security, providing crypto investors with the simplest and smoothest BTC asset re-pledge experience. By releasing the liquidity of pledged assets and capturing the best pledge returns, Lorenzo Protocol uses an innovative principal and interest separation form to make it possible to build complex DeFi products based on BTC, further exploring more possibilities of Bitcoin finance.
Macaron
Macaron is the native DEX on the Bitlayer chain, providing users with a range of tools, including liquidity farming, staking incentives, trade-to-earn, airdrops, etc. to increase user benefits. With the technical and ecological support of Bitlayer, the team is committed to building excellent products to make Macaron DEX safer, cheaper and faster.
Current TVL: $30.82M
TrustIn Finance
TrustIn Finance is a permissionless lending protocol native to Bitlayer, powered by a Bitcoin-secured Layer 2 solution built on BitVM. Users can use crypto assets as collateral to borrow underlying assets faster and more securely on Trustin, while also earning interest by providing assets to the protocol.
Current TVL: $10.83M
bitCow
bitCow is an AMM protocol that provides stable swaps and automated pooled liquidity.
Current TVL: $33.83M
Enzo Finance
Enzo Finance is a decentralized lending protocol on the Bitlayer chain with advanced algorithm technology and supports LP, NFT and Metaverse asset lending.
Current TVL: $10.77M
Nekoswap
Nekoswap is committed to becoming a fully community-driven, fair, transparent and decentralized exchange, including Swap, liquidity pool, Farm, Launchpad, Rune trading and other functions. NekoRunes will become the first rune asset token on Nekoswap.
infrastructure
Pell Network
Pell Network is the first active verification service (AVS) network in the Bitcoin ecosystem built on the re-staking protocol. Pell Network builds a full-chain cross-chain relay network through cross-chain atomic communication technology, ZK-Rollup and other technologies, which aggregates BTC and its LSD liquidity assets scattered in various Layer 2s in a unified Pell network ledger, thereby realizing a decentralized governance AVS ecological service network, allowing Bitcoin to participate in the security verification process of a wide range of decentralized ecological applications to expand the profit scenario.
Current TVL: $76.69M
Apro Oracle
APRO Oracle is an innovative system designed to create stablecoins and build a bridge to the Bitcoin mainnet. It ensures the security and authenticity of price information through a two-step price kò aggregator while minimizing operating costs. The system also generates random numbers using socket noise, provides random services for various projects, and ensures network security and reliability through a two-layer network.
Cross-chain bridge
Polyhedra Network
Polyhedra Network is the world's leading ZK interoperability infrastructure. Its zkBridge has become one of the largest cross-chain infrastructures in the multi-chain ecosystem, with the vision of building the world's largest Bitcoin interoperability ecosystem. Currently, Bitlayer has reached a cooperation with Polyhedra Network to achieve fast and secure interoperability for Bitcoin's second layer through zkBridge.
Meson Finance
Meson Finance now supports more than 50 public chains and second-layer networks, and is currently one of the most important Bitcoin cross-chain tools.
Owlto Finance
Owlto Finance is a user-friendly, secure, fast and low-cost asset transfer cross-chain interoperability protocol that supports direct asset transfer between different Layer 2 networks.
Orbiter Finance
Orbiter Finance is a decentralized cross-rollup bridge for transferring Ethereum's native assets. Orbiter sets up two roles, Sender and Maker. When Sender initiates a transfer, Maker provides liquidity. Smart contracts ensure the security of the entire process. If Maker has bad behavior that causes the transfer to fail, Sender can use Maker's margin to initiate an arbitration request to the contract and then obtain excess compensation.
Bool Network
Bool Network is a permissionless, decentralized and secure Bitcoin validation layer that aims to safely expand the Bitcoin network without changing the Bitcoin consensus, thereby promoting the prosperity of the Bitcoin ecosystem.
wallet
OKX Wallet
OKX Web3 Wallet is a non-custodial, decentralized multi-chain wallet with built-in cross-chain currency exchange transaction aggregator DEX, one-stop on-chain investment tool DeFi, heterogeneous multi-chain aggregation trading platform (supporting Crypto, Ordinals and NFT), and easy access to 1,000+DApp protocols through the wallet. Currently, OKX Wallet already supports the Bitlayer mainnet and ecosystem.
TokenPocket
TokenPocket is the world's leading multi-chain self-custodial wallet, supporting EVM-compatible networks and Ethereum Layer 2 such as Ethereum, BNB Chain, Polygon, as well as non-EVM-compatible networks such as Bitcoin, TRON, Solana, Dogecoin, etc. Currently, TokenPocket already supports the Bitlayer mainnet and ecosystem.
Bitget Wallet
Bitget Wallet is the world's leading one-stop Web3 multi-chain wallet. It provides users with a full range of on-chain products and DeFi services including wallets, Swap transactions, NFT transactions, DApp browsers, etc. Currently, Bitget Wallet supports the Bitlayer mainnet and ecosystem.
NFT
NFTGo
NFTGo is the world's leading one-stop NFT data aggregation platform. NFTGo aims to aggregate, analyze and present NFT data from the entire network, providing search engines, data visualization, rarity queries, whale tracking, NFT new issuance and other functions.
Meme
bone
bone is the winning project in the public beta event The Trumeme Show of the Bitcoin native stablecoin project bitSmiley. It was deployed on the Bitlayer mainnet on May 1 and destroyed on May 3.
Cat Driving Bitcoin
Cat Driving Bitcoin ($CBD) is a native meme on the Bitlayer chain, with a cat + driving element as the main visual element. $CBD aims to subvert the meme economy by building a prosperous, modern, high-rise Bitcoin world. The project is committed to becoming the largest community asset on Bitlayer.
Demos
Demoji is the Meme token $moji launched by DeBox on Bitlayer. 100% of the tokens will be distributed to DeBox and Bitlayer ecosystem participants (NFT holders, pledgers, lucky helmets, Bone/CBD buyers, etc.) in the form of airdrops.
Launchpad
Pumped up
Pumpad is a Bitlayer native project. As a one-stop Launchpad for the Bitcoin ecosystem, Pumpad supports issuers to automatically add liquidity to DEX after issuing VGA assets according to the IPOS standard and deploy an automated market maker protocol.
long
Pika is the first IDO platform on Bitlayer, dedicated to helping new projects or startups grow. As a full-service provider, Pika provides projects with full support including incubation, fundraising, token listing, backend services, and community development.
RWA
Zoth
Zoth is an ecosystem of liquidity and RWAs that connect traditional finance and on-chain finance. Zoth’s first product, ZOTH – Fixed Income (ZOTH-FI), is an institutional-grade fixed income marketplace that provides RWAs such as cross-border trade finance, treasuries, and sovereign bonds.
Chain Games
4 Goals
4 Metas is revolutionizing the entertainment landscape by creating a unified platform for gaming, streaming, and virtual experiences. It’s more than just a platform; it’s a Web3 native ecosystem that brings together GameFi, social features, the Metaverse, and AR/VR in one dynamic space.
Moonshot
Moonshot (formerly Nearcrash) is a game for adventure and thrill lovers, aiming to become the number one multi-chain Crash game.
GamerBoom
GamerBoom is an intent-centric gaming social platform for the digital native generation, fusing the best of Web2 gaming with the possibilities of Web3 while bringing Web3 to mainstream gamers.
Woof Woof West
Woof Woof West is a play-to-earn game deployed on Bitlayer with social and user interaction as basic elements.
Richverse
Richverse is the first asset gamification network that integrates four elements: business, competition, social interaction, and commitment, providing players with asset mortgage, consumption, and other game scenarios. Starting with the first Monopoly-type game, Richverse hopes to make the Bitcoin ecosystem richer and more interesting.
Give
Anome is an NFT derivative asset issuance and lending platform that cuts into the full-chain game scene. It is committed to helping users unlock the liquidity and value of NFT assets by building a closed-loop ecosystem that integrates DeFi, NFTFi, and GameFi, and becoming the world's largest NFT mortgage loan protocol by TVL. Anome's "NFT Brawl" game is the world's first AI-driven, UGC, collectible, full-chain card game that supports ERC 404 assets. Players can improve their combat capabilities and get more game fun by training the game AI.
original universe
Redbrick
Redbrick is a UGC-based metaverse platform that provides land builders and 3D studios, and creates a token economy where the value of creations is fairly rewarded.
summary
According to DefiLlama data (https://defillama.com/chain/Bitlayer), Bitlayer's TVL is currently $361M, which still has a lot of room for growth compared to Ethereum L2. However, considering that it has only been 2 months since the deployment of Bitlayer's mainnet V1, the project's current liquidity scale and number of ecological projects are already far ahead of similar projects.
Overall, Bitlayer is still in its early stages, and many ecological projects still need time to test and further release their potential.
However, with the continuous advancement and implementation of the official Bitlayer developer airdrop incentive plan, as well as the continued increase in the first mining festival series of incentive activities, it is expected that more and more Bitlayer native applications will soon appear, new assets will begin to circulate, and the resulting ecological prosperity will quickly increase Bitlayer's valuation.
