Botanic Labs plans to make Bitcoin more capable by introducing a Layer 2 solution that delivers Ethereum’s useful smart contracts to Bitcoin. With this initiative, developers can create Apps on Bitcoin, benefiting from Bitcoin’s strong security and Ethereum’s flexibility.
What is Botanic Labs?
Botanix Labs is currently building a permissionless and decentralized Layer 2 blockchain for Bitcoin that easily connects with the EVM. This compatibility enables developers to deploy Ethereum apps on Bitcoin, leveraging Bitcoin’s strong security and decentralization. Spider chain, a special architecture, pairs Bitcoin’s trusted PoW agreement system with the POS design on its secondary network.
Key Technologies
- Spider chain
Orchestrator nodes manage a network of decentralized multisignature wallets called the Spider chain. These nodes secure users’ bridged Bitcoin by staking their own BTC, ensuring honest behavior through economic incentives. The Spider chain enhances security by randomly rotating responsibilities among Orchestrators, preventing any single entity from gaining control.
- EVM Compatibility
Integrating the Ethereum Virtual Machine, Botanix enables developers to use familiar tools and languages from the Ethereum ecosystem. This compatibility simplifies the process of building and deploying apps on the Bitcoin network.
- Bridging Bitcoin
Users can bridge their BTC from the main Bitcoin network to Botanix’s Layer 2. This process requires users to lock BTC in multisignature wallets on the main net, after which they mint an equivalent amount of tokens on the L2 network. Users can then utilize these tokens within the Botanic ecosystem and later redeem them back to BTC on the main net.
Testnet and Airdrop Opportunities
Botanix Labs has launched a test net to allow users and developers to experiment with its platform. Participants can:
- Go to this link and connect your wallet.
- They obtain test tokens via the Botanic faucet.
- They deploy and interact with dApps.
- They participate in token swaps, lending, and staking activities.
These activities may qualify them for potential airdrops upon the main net launch.
Team and Funding
Willem Schroé, an electrical engineer with an MBA from Harvard Business School, founded Botanix Labs. The team also includes Alicia Painter, who serves as the Chief Operating Officer. Notable investors, including Polychain Capital, Placeholder Capital, and Valor Equity Partners, have secured funding for the project, raising total $11.5 million across two seed funding rounds.
Roadmap
At the beginning of 2025, Botanix Labs is testing its final network and plans to release the main net soon after. The plan for moving forward includes widening the ecosystem, involving more developers, and adding additional DeFi services on Bitcoin’s network.
Learn More
- Official Website: botanixlabs.xyz
- Twitter: @BotanixLabs
- Documentation: docs.botanixlabs.xyz
Botanic Labs takes a significant step toward enhancing Bitcoin’s functionality, aiming to bring the flexibility of Ethereum’s smart contracts to the world’s most secure blockchain
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