TLDR:
- Bitlayer, a Bitcoin layer-2 scaling solution, secures a strategic investment from OKX Ventures.
- OKX Ventures anticipates integration of new features to enhance the Bitcoin ecosystem, such as NFT creation.
Bitlayer, a Bitcoin layer-2 scaling solution, has received a strategic investment from OKX Ventures, the venture capital arm of OKX crypto exchange. The protocol targets the scalability issues of layer-1 blockchains, particularly Bitcoin, by leveraging its technology for cheaper and faster transactions. Since its launch in 2023, Bitlayer has achieved significant milestones, generating over $179,600 in transaction fees last month.
OKX Ventures, known for supporting innovative blockchain projects, is committed to fostering the healthy development of the crypto space. They are drawn to Bitlayer’s goal of becoming the computation layer for Bitcoin and aim to support its growth. Bitlayer has also recently partnered with Velar to develop and launch the world’s first Perpetual Decentralized Exchange (PerpDex) on Bitlayer, offering traders the opportunity to trade perpetual contracts directly on the Bitcoin blockchain.
The collaboration between Bitlayer and Velar signifies a step towards enhancing the Bitcoin ecosystem by enabling the creation of NFTs and other liquidity assets on the platform. OKX Ventures believes that further amplifications like NFTs will bring value to Bitlayer and the broader Bitcoin community, showcasing the potential for innovation and growth in the crypto space.
