TechFlow news: BRC-137, a composable DID protocol within the Bitcoin ecosystem, has announced the successful completion of a $2.5 million seed funding round. The round was participated by institutions including Basics Capital, DFG, Gate Labs, and JSquare. The funds will be used to accelerate protocol development and ecosystem growth, aiming to realize a native social universe within the Bitcoin ecosystem.
According to the BRC-137 whitepaper, BRC-137 aims to enhance asset liquidity while building a richer DID ecosystem by introducing composable prefixes and suffixes.
In addition, the protocol introduces a royalty mechanism to promote the development and innovation of on-chain social models.
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