According to PANews, the BTC Layer2 project BEVM, based on Taproot Consensus, has announced the completion of its seed round and partial Series A financing, raising $10 million. Nearly 20 institutions participated in the investment, including RockTree Capital, Waterdrip Capital, Arkstream Capital, ViaBTC Capital, Satoshi Lab, Web3port, Cogitent Ventures, MH Ventures, Mapleblock, Electrum Capital, Zephyrus Capital, Lotus Capital, 7UPDAO, and TimeTells. The post-investment valuation is estimated at $200 million.
In addition, BEVM plans to launch the 'BEVM-stack' (BTC L2 as a service) to help developers easily start BTC layer2. Furthermore, BEVM will develop the DBFX (decentralized bitcoin foreign exchange) protocol, aiming to seamlessly connect local BTC to any on-chain Defi protocol.
