Bitlayer, co-founded by Charlie Hu and Kevin He, has achieved significant milestones since launching its V1 mainnet, reaching an all-time high Total Value Locked (TVL) of $850 million and launching over 200 decentralized applications (dapps) on its Layer 2 (L2). The innovative platform aims to unlock liquidity in the Bitcoin ecosystem while addressing security concerns common in existing solutions. The newly introduced BitVM bridge allows for trust-minimized deployment of Bitcoin across multiple blockchains, requiring only a single honest signer for security, unlike previous multisig setups. The demand for Bitlayer's technology is reflected in recent partnerships with major Layer 1 blockchains, as well as substantial funding rounds totaling $20 million led by institutions such as Franklin Templeton and Polychain Capital. Looking ahead, the anticipated launch of Bitlayer's Mainnet V2 in Q2 2025 will bring the first Bitcoin Rollup, enhancing the Layer 2 ecosystem with Bitcoin-level security and expanding DeFi opportunities for users to earn yield and engage in other financial activities. This groundbreaking development aims to further advance Bitcoin's decentralized finance potential without modifying the Bitcoin protocol.

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