Botanix Labs, a Bitcoin development startup, secured $8.5 million for its Spiderchain layer-2 network, totaling $11.5 million with prior funding. Notable investors include Polychain Capital and Placeholder Capital. Spiderchain aims to merge Ethereum’s smart-contract functionality with Bitcoin’s security, enabling seamless transfer of applications. Its testnet amassed 200,000 active addresses and 10,000 token launches. Botanix Labs strives to enhance Bitcoin’s utility, emphasizing individual sovereignty.
