TechFlow News, November 19 — According to Cointelegraph, Bitcoin Layer 2 solution Bitfinity Network announced it has raised $12 million in funding, including $7 million from institutional investors such as the Polychain Beacon Fund, ParaFi, Draft Ventures, and Warburg Serres, along with an additional $5 million raised through a community over-the-counter (OTC) token sale. The project will leverage the Internet Computer Protocol (ICP)'s Chain Fusion technology to enable native Bitcoin assets to operate within an Ethereum-compatible ecosystem.
A project spokesperson stated that Bitfinity enhances network security using a proof-of-stake protocol and Chain-Key technology, supporting a large signature committee capable of processing Bitcoin Schnorr and ECDSA transactions. The ecosystem plans to host decentralized applications including Sonic, Chapswap, Lendfinity, and Omnity Bridge. Notably, the founder of Liquity—a lending protocol with a $1 billion TVL—has also joined as a supporter of the project.
