Bitcoin L2 solution Bitfinity Network completes $12 million financing, with Polychain Beacon Fund and others participating

Bitcoin L2 solution Bitfinity Network announced the completion of $12 million in financing, including $7 million from institutions such as Polychain Beacon Fund, ParaFi, Draft Ventures and Warburg Serres, and $5 million raised from community over-the-counter (OTC) token sales. The project will use the Internet Computer Protocol (ICP)'s Chain Fusion technology to enable the operation of Bitcoin native assets in an Ethereum-compatible ecosystem. In addition, Bitfinity Network has been launched, and its security is strengthened by a "strong proof-of-stake protocol utilizing Chain-Key technology", which provides stronger security than traditional multi-signatures used by most L2s. The ecosystem plans to host dApps such as Sonic, Chapswap, Lendfinity and Omnity Bridge. (Cointelegraph)