Background
For a long time, Bitcoin has only been utilized as “digital gold” for value storage but but its ecosystem growth has been hindered by the lack of smart contract capabilities.
BitcoinVM merges Bitcoin’s core essence with EVM, enabling its smart contract capabilities and broadening the scope of possible DeFi applications within the Bitcoin ecosystem, thereby sparking Bitcoin Renaissance.
What is BitcoinVM?
BitcoinVM is an EVM compatible Layer2 solution for Bitcoin, using BTC as the “gas” and the “native currency” within its ecosystem. It seamlessly connects Bitcoin and EVM ecosystems, thereby enhancing the utility of Bitcoin by bringing various DeFi applications into the realm and enabling a new era of BTCFi.
Beyond being a singular Bitcoin Layer2 network, BitcoinVM also provides BVM Stack, which is a customizable platform for developers to easily build their own EVM-compatible Bitcoin Layer2 networks. Chains built on the BVM Stack can interact seamlessly with each other, fostering a robust interconnected ecosystem.
Our Vision
BitcoinVM’s vision is to establish a brand new BTCFi ecosystem to enrich Bitcoin’s application scenarios, including but not limited to Defi protocols (e.g. Dex, liquidity farming, launchpad, lending and others), different kinds of assets (e.g. tokens, NFT, Inscriptions and others), and various kinds of applications like gamefi, socialFi and many others.
The Testnet is Live
BitcoinVM leverages the Cosmos SDK for its EVM-compatible solution, thereby integrating the flexibility and functionality of a modular blockchain architecture, allowing both users and developers to experience and develop various applications in a familiar environment.
The Network RPC Configuration is as follows:
For more details, please refer to our documentation:
https://bitcoinvm.gitbook.io/bitcoinvm-docs/bitcoinvm/overview
Building BTCFi Ecosystem
Built on the robust consensus of Bitcoin, BitcoinVM aims to establish a BTCFi ecosystem, bringing a wide range of applications and financial services to Bitcoin Ecosystem.
Ecosystem projects are the foundations of the BitcoinVM network. Rewards are provided for application developers, liquidity providers and node operators. Also, since BitcoinVM is EVM compatible, we are happy to provide comprehensive support for Ethereum applications to deploy their applications to BitcoinVM, including DEXes and Liquidity Farming, Launchpad, Lending Protocols, Derivatives DEXes, NFT Marketplace, Inscriptions Marketplace, GameFi, SocialFi, and Meme Projects.
$BVM Token
$BVM is the native token of the BitcoinVM network. The basic information of $BVM is as follows:
- Name: BitcoinVM
- Symbol: $BVM
- Total Supply: 21,000,000
- Protocol: ERC20 & BVM20 (after the launch of BitcoinVM Mainnet)
- CA (ERC20): TBD
Roadmap
2023 Q4: Testnet Phase
During 2023 Q4, we achieved significant milestones in the BitcoinVM Testnet development, including the Testnet Explorer and wBTC Faucet.
2024 Q1: Mainnet Phase
The BitcoinVM Mainnet will be launched in 2024 Q1. Users will be able to bridge their BTC to BitcoinVM Mainnet, and ecosystem projects will be launched along with various incentive programs.
2024 Q2: BVM Stack Phase
The BVM Stack will be a standardized set of open-source modular tools that can be assembled into customized chains to serve different specific blockchain use cases. This enables developers to build their own Layer2 blockchains on top of BitcoinVM.
