Layer 2

Botanix Labs launches final testnet for its Bitcoin L2

Published

1 year ago

December 4, 2024

Botanix Labs, a decentralized layer 2 platform purpose-built for Bitcoin-native decentralized finance, has introduced that the ultimate testnet of its resolution is reside.

The testnet goes reside with the rollout of the Aragog Testnet, the newest testnet model of the Spiderchain Bitcoin (BTC) L2. Aragog replaces the v0 testnet that launched in November 2023 and consists of the “pre-mainnet implementation” of a number of Bitcoin-native functions.

Aragog Testnet brings the blockchain resolution nearer to the mainnet launch, scheduled for 2025, the Botanix group stated in a press launch.

Botanix Labs has a number of native groups engaged on Spiderchain DeFi primitives through the brand new testnet. These embrace Bitcoin-backed stablecoin Palladium, decentralized change and automatic market maker Bitzy, and lending/borrowing market Spindle. Liquid staking token supplier Rover and perpetual DEC platform BitPerp are additionally constructing on the Spiderchain testnet.

Like different testnet environments, Aragog will permit builders to check their decentralized functions. Customers taking part within the testnet will assist stress take a look at the networks, with duties corresponding to figuring out bugs being important to the ultimate mainnet deployment.

The Aragog launch considerably improves on the earlier testnet, going past a single node to run full-node distributed sequencers. Based on the group, the nodes are geographically decentralized and unfold throughout the Americas, Africa, Europe and Asia.

As a part of the search to carry Bitcoin on-chain and into the DeFi ecosystem, a number of platforms and options have been launched. The ecosystem has attracted LST tokens, lending protocols, and different functions as an increasing number of individuals look to stake their BTC past simply rewards.

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Botanix Labs is working with key trade gamers corresponding to Chainlink, Vertex Protocol, and Solv Protocol to make this a actuality for BTC holders. Botanix is additionally constructing The Graph along with the web3 protocol and the multi-chain explorer Routescan.

The Botanix group $11.5 million raised in a funding spherical led by Polychain and Placeholder in Might 2024 and introduced the mixing with Chainlink’s CCIP in October.