BEVM, built on Taproot, is a BTC Layer 2 that uses BTC as gas and is compatible with EVM. It features BTC’s native Schnorr signatures, Mast contracts, and a BFT consensus network composed of 1000 BTC light nodes. BEVM establishes a fully decentralized BTC Layer 2 and stands out as one of the few BTC Layer 2 networks that have already launched their mainnets. The BEVM mainnet has been running steadily for six months, with over 78,000 on-chain users holding assets, 5.8 million on-chain transactions, and more than 20 projects in its ecosystem. The ecosystem’s Total Value Locked (TVL) has exceeded $50 million, showcasing its leadership with absolute on-chain data advantages in the realm of BTC Layer 2. BEVM has reportedly completed its first round of funding and part of the second round, with participation from several top BTC ecosystem institutions in North America and Chinese-speaking regions. The post-investment valuation of BEVM is currently $200 million, and further details are pending official disclosure from BEVM. This article aims to comprehensively overview the development status of the BEVM ecosystem, showcasing the progress of this leading BTC Layer 2.

1. Asset Issuance Protocols (3)

Bevscriptions

Bevscriptions is an inscription asset issuance and trading platform built on BEVM, utilizing the BM-20 asset issuance standard. The platform has already issued its first inscription asset, BMW, attracting over 500 BTC for casting. Within six hours on BEVM, it generated nearly 3 million transactions. Currently, BMW has seen a tenfold increase in casting cost, and it serves as Bevscriptions’ governance inscription. The platform plans to launch a series of high-quality inscriptions gradually.

Twitter: @BM20_BTClayer2

Website: https://www.bevscriptions.com

Donut

Donut is a social inscription issuance and KOL promotion platform built on BEVM, incorporating social inscriptions and the Friendtech model. Any project can release inscriptions on Donut, and KOLs can promote favored inscription assets. Users can mint inscriptions through KOL’s exclusive casting link, and a portion of the funds will be used to purchase the KOL’s IPShare. Donut is a unique asset issuance protocol on BEVM, open to the entire community.

Twitter: @donut_verse

Website: http://bevm.dnt.social

BL2Rune

BL2Rune is a rune protocol built on BEVM, and it has discovered its first rune asset, Book, which currently has a casting cost increase of about 3 times. Book serves as the governance inscription for BL2Rune, and the protocol plans to launch a series of rune assets in the future.

Twitter: @BL2Rune

Website: http://bl2rune.com

2. Decentralized Exchanges (1)

Bswap

Bswap is an inscription-based DEX built on BEVM, functioning as an AMM liquidity protocol. It supports trading pairs of various BRC20 assets like Sats, Ordi, and BTC. The current Total Value Locked (TVL) is approximately $700,000.

Twitter: @BSwap_BEVM

Website: http://bswap.bevm.io/#/swap

3. Stablecoin (1)

Satoshi Protocol

Satoshi Protocol is a fully decentralized BTC over-collateralized stablecoin built on BEVM. Any user can mint stablecoins by collateralizing BTC. In the future, Satoshi Protocol aims to integrate its stablecoin into the Lightning Network, enabling real-world use of BTC-backed stablecoins.

Twitter: @SatoshiBEVM

Website: https://www.satoshiprotocol.io

4. Derivatives Protocol (1)

Coral Finance

Coral Finance is an inscription-based premium options protocol built on BEVM. Users can inject inscriptions and any assets into Coral Finance’s premium pool to obtain a premium C asset through a unique algorithm for casting and releasing. Coral Finance effectively locks liquidity and unites community users holding assets from project parties. It is a premium options protocol targeting both B2B projects and C-end users.

Twitter: @Coral_Finance

Website: https://www.coraldex.finance

5. Lending (2 pieces)

Tonka

Tonka is an inscription-based lending protocol built on BEVM, allowing users to borrow by collateralizing BTC and inscription assets. This enables the practical use of inscription assets, fully unlocking the financial value of inscriptions. BEVM’s outstanding smart contract capabilities, along with low gas fees and fast transaction experiences, seamlessly align with Tonka’s on-chain lending and liquidation requirements.

Twitter: @tonkafinance

Website: https://www.tonka.finance

OmniLending

OmniLending is a comprehensive lending protocol built on BEVM that supports 18 chains. It facilitates any interoperable lending needs between BEVM and other chains, with a current Total Value Locked (TVL) of approximately $30 million.

Twitter: @OmniBTC

Website: https://omnilending.omnibtc.finance

6. Bridge (5 pieces)

Meson.fi

Meson.fi is a fast and efficient cross-chain bridge that currently supports 34 chains. It enables cross-chain transfers from four mainstream chains – BNBChain, Ethereum, Polygon, and Arbitrum – to BEVM.

Twitter: @mesonfi

Website: https://meson.fi

Polyhedra

Polyhedra is a Web3 cross-operation infrastructure that focuses on ZKBridge, currently the largest ecosystem for ZKBridge. It supports cross-chain interoperability for over 35 mainstream L1 and L2 chains, allowing the transfer of both FT and NFT assets across chains.

Twitter: @PolyhedraZK

Website: https://polyhedra.network

Owlto Finance

Owlto Finance is a cross-chain protocol that facilitates direct cross-chain transactions for mainstream assets across multiple chains. It currently supports cross-chain transactions from three mainstream chains – Ethereum, Arbitrum, and BNBChain – to BEVM for BTC.

Twitter: @Owlto_Finance

Website: https://owlto.finance

Bool Bridge

Bool Bridge is a cross-chain bridge supported by Bool Network, constructed based on MPC, ZKP, and TEE environments. It currently supports cross-chain transfers from Arbitrum to BEVM.

Twitter: @bool_official

Website: https://bool.network

BEVM Bridge

BEVM Bridge is a fully decentralized cross-chain bridge from the official BEVM, supporting the transfer of BTC from the main chain to BEVM. It also facilitates cross-chain transfers of BTC-based BRC20 assets, with plans to support more BTC assets in the future. BEVM Bridge is built on Taproot and utilizes a Schnorr signature + Mast contract + Bitcoin light node BFT consensus network to automate BTC cross-chain operations and management, eliminating the inefficiencies of multi-signature and human intervention, relying entirely on decentralized network consensus.

Twitter: @btclayer2

Website: https://www.bevm.io/bridge

7. OmniChain Swap (1)

OmniBTC

OmniBTC is a full-chain swap built on BEVM. It already supports cross-chain transactions on 18 chains. Its vision is to realize full-chain swap of BTC and support BTC transactions on any chain, thereby introducing BTC to any chain. Currently, OmniBTC’s TVL is About 30 million US dollars.

X：@OmniBTC

Website：https://app.omnibtc.finance/swap

8. Launchpad (1)

SoulBound

SoulBound is a Launchpad built on BEVM and the first LaunchPad built on BTC L2. SoulBound currently supports the casting of Brc20 assets and will support the asset launch of any project on the BEVM chain in the future.

X：@SoulBound_BTC

Website:soulboundbtc.com

9. NFT MarketPlace (1)

The bit

Bitsea is a BTC L2 NFT MarketPlace built on BEVM and currently has functions such as NFT Launchpad and NFT trading market. Recently, Bitsea released its first NFT asset Seabox, which is currently about 30 times higher than the cost of casting its assets. It is reported that Bitsea will successively launch high-quality inscription NFT projects.

X：@Bitsea_NFT

Website:bitsea.ink

10. GameFi (1)

Richverse

Richverse is a GameFi built on BEVM and the first GameFi built on BTC L2. Richverse is a virtual social network driven by XR technology and community. It currently takes the classic game Monopoly as its core line and integrates simulation, management , economic, social and other scenarios. It is reported that Richverse will launch inscription assets to launch its community.

X：@RichverseWeb3

Website:richverse.io

11. SocialFi (2)

Comingchat

Comingchat is a Web3 social protocol built on BEVM. It has accumulated more than 5 million downloads in AppStore, Google Pay and other application markets, and has about 50,000 daily active users. It is an integration of cross-chain, Swap and other on-chain applications. Web3 social protocol.

X：@ComingChatApp

Website:coming.chat

Dsyncle

Dsyncle is a social product built on BEVM. Users can hold positions and chat, that is, users need to hold a certain asset to enter a specific asset group for chat. During the chat process, functions such as cross-chain, Swap and even CEX API transactions can be issued at any time.

X：@Dsyncle

Website:dsyncle.io

12. Oracle (1)

THERE

DIA is a well-known oracle protocol that currently supports 40+ mainstream L1 and L2 blockchains and continues to provide price feeds for 3,000+ tokens and 18,000+ NFTs. DIA will be connected to BEVM to provide oracle quotation services for BEVM ecological projects.

X：@DIAdata_org

Website：https://www.diadata.org

13.Tools (1)

Thirdweb

Thirdweb is a Web3 development platform that provides pre-built smart contracts to create products so that developers can build products quickly and efficiently. Currently, Thirdweb is compatible with almost all mainstream smart contract platforms including BEVM.

X：@thirdweb

Website:thirdweb.com

14. Wallet

Particle Network

Particle Network is the world’s largest AA wallet, currently supporting 30+ mainstream chains. Particle Network is currently connecting to BEVM, allowing users to experience the convenient functions of AA smart contract wallets in BTC L2.

X: @ParticleNtwrk

Website：particle.network

In addition to AA wallets, since BEVM is fully compatible with EVM, any EVM wallet can log in to the BEVM network. Mainstream wallets including Meatmask, OKX Wellet, and TokenPocket all support the BEVM network. Currently, the TokenPocket plug-in wallet and mobile wallet have added the BEVM network. Default network, no need to be added by the user.

From the above inventory, we can see that BEVM’s current ecosystem has reached a certain scale, and the ecosystem has covered 14 tracks including the Inscription Asset Issuance Protocol, Stablecoin, DEX, Lending, SocialFi, GameFi, Cross-chain Bridge, Oracle, Launchpad, and NFT MarketPlace. The total number of ecological projects has exceeded 20+, with 78,000+ users on the chain. It is the only BTC L2 project to be launched on the first network among the current BTC L2 projects. With the largest ecological scale and user volume, BTC L2 is a well-deserved BTC L2 competition. We look forward to announcing the further development of its investment institutions and ecosystem.

Disclaimer：

1. This article is reprinted from [web3中文]. All copyrights belong to the original author [Web3CN 小编]. If there are objections to this reprint, please contact the Gate Learn team, and they will handle it promptly.
2. Liability Disclaimer: The views and opinions expressed in this article are solely those of the author and do not constitute any investment advice.
3. Translations of the article into other languages are done by the Gate Learn team. Unless mentioned, copying, distributing, or plagiarizing the translated articles is prohibited.