Bitcoin Hyper raises $29.5M for a Solana VM-based Bitcoin L2 aiming to speed BTC DeFi, gaming, and payments while settling back to Bitcoin.
Summary
- Bitcoin Hyper is building a Solana Virtual Machine execution layer that processes transactions off-chain before final settlement on Bitcoin, targeting high-speed DeFi, gaming, and other dApps.
- BTC is the primary medium of exchange on the network, while the HYPER token handles gas, staking, and governance as the infrastructure asset for the ecosystem.
- The project pitches itself as extending Bitcoin’s utility beyond a store of value, positioning its L2 as part of a broader wave of Bitcoin scalability and programmability efforts.
Bitcoin Hyper has raised $29.5 million in presale funding for a layer-2 solution designed to enable faster transactions while maintaining Bitcoin as the settlement layer.
Bitcoin Hyper leads raise
The project aims to address Bitcoin’s transaction speed limitations by creating an off-chain execution environment that operates alongside the base Bitcoin (BTC) network. The architecture leaves Bitcoin’s core protocol unchanged while moving transaction execution to a separate layer.
Bitcoin’s base layer was designed with a focus on security and decentralization rather than transaction speed, according to the project’s documentation. The network relies on SHA-256 cryptographic functions and a conservative design that prioritizes verification and immutability.
Bitcoin Hyper’s execution layer utilizes the Solana Virtual Machine to process transactions at higher speeds before final settlement occurs on the Bitcoin blockchain, according to the company. The system is designed to support decentralized finance applications, gaming, and other use cases that require faster transaction processing.
The framework requires Bitcoin as the primary medium of exchange within its ecosystem, according to the project developers. Applications built on the platform are designed to use BTC directly rather than wrapped tokens or substitutes.
The HYPER token serves as the network’s gas token for transaction fees, staking asset for network security, and governance token for protocol decisions, according to the project documentation. The token has attracted investor interest as part of the infrastructure layer supporting Bitcoin-based applications.
Bitcoin recently experienced price volatility after crossing six-figure price levels earlier in the year. The cryptocurrency’s role as a store of value has faced scrutiny from traditional financial market participants and analysts, according to market observers.
The Bitcoin Hyper project represents one of several efforts to build layer-2 solutions that aim to increase Bitcoin’s utility for everyday transactions while preserving the security characteristics of the base layer network.
Source: https://crypto.news/bitcoin-hyper-presale-raises-29-5m-for-solana-powered-bitcoin-layer-2/
