Bitcoin L2 Solution Bitfinity Network Completes $12 Million Funding Round, with Participation from Polychain Beacon Fund

BlockBeats News, November 19, according to Cointelegraph's report, Bitcoin Layer 2 solution Bitfinity Network announced the completion of a $12 million financing round, including $7 million from institutional investors such as Polychain Beacon Fund, ParaFi, Draft Ventures, and Warburg Serres, and $5 million raised through a community over-the-counter (OTC) token sale.

The project will leverage the Internet Computer Protocol (ICP)'s Chain Fusion technology to enable native Bitcoin assets to operate within the Ethereum-compatible ecosystem. The ecosystem plans to host decentralized applications including Sonic, Chapswap, Lendfinity, and Omnity Bridge. It is worth noting that the founder of the $1 billion TVL lending protocol Liquity also participated in supporting this project.