Bitlayer Monthly Report - January 2025

A collection of highlights from the month in Bitlayer

As we step into the new year, Bitlayer is hitting the ground running with the Bitlayer x Binance BTCFI Carnival, as well as the launch of the Finality Bridge testnet, a trust-minimized bridge. The core builders within the Bitlayer ecosystem continue to lead the charge in shaping BTCFI trends and advancing BitVM research.

Let’s take a closer look!

This Month’s Top Stories

• This month, the Bitlayer BTCFI Carnival continues its weekly activities on Binance Wallet. – January, 2025

  Participating ecosystem projects include Pell, Bedrock, DeSyn Protocol, DeAgentAI, Lorenzo and Cygnus Finance, offering participants generous tokens and other rewards. You can find the most comprehensive announcements about these events below: Week 1, Week 2, Week 3, and Week 4.

  

• Bitlayer unveiled Finality Bridge, empowering users to securely mint BTC into Yield BTC with minimal trust assumptions, enabling participation in DeFi sectors like liquidity mining, staking, and lending across the Bitlayer ecosystem and beyond. Check out more details here. – January 17th, 2025

  

• The BLBTC-BTC Basis Trading Strategy Pool, an on-chain basis trading product specifically tailored for BTC holders, is live on Bitlayer BTCFI Carnival, offering competitive APYs up to 21%. – January 13th, 2024

  

• Chainlink’s CCIP is now LIVE on Bitlayer, enabling Bitlayer developers to build secure cross-chain applications that drive BTCFi adoption. – January 31th, 2025

  

Monthly On-Chain Highlights

• Total Value Locked: $717.84M (Source: DeFiLlama）
• Total Monthly Addresses: 737,600 (6.4% MoM)
• Total Transactions: 31,076,139 (23.1% MoM)
• Deployed Projects: 200+
• Accumulated number of Binance Wallet users during BTCFI Carnival: 392.5K

More Updates and Events

Bitlayer is actively expanding its global footprint. Below are some key updates and events to catch you up to speed.

• The Bitlayer Finality Bridge testnet is available for users, where they can test and experience minting features in an easy-to-use setting. To try out the Finality Bridge, check out its testnet page.

• Here is an X thread about the Finality Bridge - a Technical Overview. The Finality Bridge is a system that allows Bitcoin to move securely into programmable environments, such as the Bitlayer L2 rollup, enabling participation in the DeFi world lending, borrowing, and yield farming without compromising on security or decentralization.

  

• If you’re interested in learning more about the current development of BitVM paradigm, we highly recommend checking out this article: “BitVM and Bitlayer: Pioneering Bitcoin’s Programmable Future.”

• Bitlayer, in collaboration with Element Labs, adapts the Chunker from the ZKP verifier to the transaction graph of the Bridge, enabling the entire BitVM to function seamlessly. These developments were made in preparation for the launch of the BitVM testnet.

• Bitlayer users can earn more BTR airdrop, and token rewards from diversified ecosystem events, such as RollDex High Roller Trading Tournament SZN 2, Bitlayer Spring Festival Giveaway, Volare Finance’s Battle Game, Metaverse Q Credits Drop, and 5.74M $OLA Mining.

• The Bitlayer case study is now live on the AWS official website. “Our decision to choose AWS as our key infrastructure partner has proven to be the right one. The performance of our Bitcoin Layer 2 network scaled effortlessly as transaction volumes soared to hundreds of thousands.” said Kevin He, co-founder of Bitlayer.

• Bitlayer was featured in Alea Research’s 2024 Edition of the Alea Research Report: “Bitlayer’s edge comes from offering an EVM-compatible & dev-friendly environment.”

• Bitlayer was featured in OKX Ventures Annual Report 2024: “Other initiatives such as Bitlayer, Merlin, Bsquared Network, and Arch Network are exploring advanced scaling solutions to provide stronger infrastructure support for Bitcoin’s DeFi ecosystem.”

  

• Bitlayer has partnered with BitZap, a cutting-edge decentralized exchange aimed at becoming the premier platform for BTC assets trading and the go-to solution for BTC LRT settlements, BTC assets lending, and more.

• Bitlayer and Binance Wallet co-hosted an AMA themed BTCFi Carnival, featuring special guests from DeSyn Protocol, Cygnus Finance, DeAgentAI, and RollDex.

  

• Bitlayer co-founder Charlie Hu sat down with WAGMI Ventures and had an insightful discussion on Bitcoin Layer 2s.

• Bitlayer co-founder Charlie Hu participated as a speaker in the first edition of Latina Conf. A virtual conference centered around the Bitcoin Narrative organized by TPC Ventures. Charlie gave the first keynote of the day and participated in the “BTCFi challenges and opportunities panel” where he explored the technical adoption challenges of Bitcoin L2s.

  

• Bitlayer co-founder Charlie Hu joined Hub71 for emerging tech talks in Abu Dhabi. The burgeoning center is bringing blockchain to the forefront with projects set to make an impact in 2025 and beyond.

• Bitlayer Digital Marketing Director Sky Harris sat down with Genzio Media at CES in Las Vegas and shared insights on Bitcoin and blockchain.

What’s Next?

We can already anticipate that February will be a busy and fruitful month, with events like the BTCFI Carnival, Consensus Hong Kong 2025, and ETHDenver 2025, as well as ongoing iterations of Bitlayer’s Finality Bridge.

Stay tuned as the excitement unfolds in the coming month!