Layer -2 Blockchain Network Build on Bitcoin (Bob) has raised $ 21 million in the strategic funding round since December 2024, according to an erstwhile, $ 9.5 million is safe in its latest round. Cointelegraph.
Many existing investors have increased their finance commitments in the latest $ 9.5 million strategic strategies, including investor exiting Castel Islands, which include new strategic investors Ancges, Amber Group, and Satts Ventures.
Castr Nick Carter, founder of Castle Island, told coinalgraph
“We also control to believe that Bitcoin will be the basis of Defy, and we think Bob will be a marquee L2.”
Bob’s Chief Technology Officer Dominic Hurz said that the company’s next major milestone cointelegraph has launched the BITVM bridge in the product. The bridge wound enables the native bitcoin (BTC) to use in DEFI on the bob and transfer BTC to other chains.
Bob has planned to launch BTC-Sangharit Antipia by the end of 2025, with future upgradation that the BTC-Screur Bridge has been enabled to Solana, Etharium, Sui and other smart contract chains.
“Users, institutes, apps and wallets will be able to get the native BTC DEFI through Bob everywhere,” said Herz.
Bob’s Testnet recently went with the support of partners including Lombard, Amber Digital and Rockwex. A Mannet launch is planned for the fourth quarter of 2025.
Briding bitcoin and atherium
The Bob uses a hybrid chain model, which combines the safety and stability of bitcoin with the versatility of the Defi ecosystem of the atherium.
Bob is a hybrid as it is a member of the superchan together, taking advantage of the OP stack as an atherium rollup, and also a bitcoin-safe network, which integrates with Babylon for bitcoin finality, which occurs through the bills of Stek BTC.
By August. 7, 2025, Bob’s total value lock is $ 212 million, Defi TVL is $ 132.2 million, with 553,000 users.
Connected: Construction on bitcoin adds ZK-proof to decentralization upgrade
The native bitcoin deffi is in the way
Earlier, bitcoin DEFIs were largely wrapped on bitcoin tokens such as centralized institutions or WBTC (WBTC), TBTC (TBTC) and Hoobi BTC (HBTC). These so -called “bitcoin” tokens were representatives of Real BTC, where users deposited their genes BTC in exchange for a token version with a centralized or multicignecular custodian, which could be used onchain.
While all the BTC Bridges have historically issued multisignature detention, Bob’s BitVM2 users allow their original BTC to interact with the DEFI application using direct-no detention, no need to wrap.
Bitvm2 is the latest Bitvm design, co-founder by Bob’s co-founder Alexi Zamitin. This enables practical fraud evidences on bitcoin, which allows users to apply Bitcoin L1 and Bob to apply Trust-Nunsm Bizing Bizing Bizing Bizing.
By achieving this technique, Bob aims to bring aimed at decentralized finance of the atherium-style, allowing bitcoin users to engage in DEFI without losing the contraceptive of other other assets. The network aims to preserve the safety of bitcoin by enabling the interchange with the atherium-based DEFI protocol.
magazine: Pakistan will deploy bitcoin reserve