Bitfinity Network, a prominent player in the Bitcoin Layer 2 landscape, has successfully completed a significant $12 million funding round, as reported on November 19 by Cointelegraph. This funding includes a robust commitment of $7 million from esteemed institutional investors such as Polychain Beacon Fund, ParaFi, Draft Ventures, and Warburg Serres, complemented by an additional $5 million procured through a community-driven over-the-counter (OTC) token sale.
The funds will facilitate the integration of Internet Computer Protocol (ICP)‘s Chain Fusion technology, which will enable the seamless operation of native Bitcoin assets within the Ethereum-compatible framework. This innovative ecosystem is set to foster a plethora of decentralized applications including Sonic, Chapswap, Lendfinity, and Omnity Bridge. Additionally, noteworthy support for this initiative comes from the founder of the billion-dollar TVL lending protocol Liquity, further underscoring the project’s potential.
Source: https://en.coinotag.com/breakingnews/bitcoin-layer-2-solution-bitfinity-network-secures-12-million-funding-round-to-enhance-ethereum-compatible-ecosystem/