On July 2, BOB (Build on Bitcoin), a hybrid Layer2 project, announced that it was already in its Native BTC was officially launched on the BitVM testnet, which is supported by ten industry leaders and leading DeFi institutions, including P2P.org, Lombard, Solv Protocol, Amber Group, Ankr, RockawayX, Fiamma, UTXO Management, Luganodes, and SatLayer. After the test network goes live, the BitVM bridge and native BTC will go live on the BOB mainnet
in the fourth quarter of 2025.
The launch of native BTC on the BitVM testnet successfully solidified BOB as Bitcoin DeFi's “home” status, as it introduces native BTC (rather than encapsulated BTC) into its broad Bitcoin DeFi ecosystem, is fundamentally different from other encapsulated BTC currently used in DeFi that rely on centralized custodians or multiple signatures. BOB's BitVM bridge uses anti-fraud “1-of-N” A security mechanism to provide Bitcoin security. Just as ETH is still “ETH” on Ethereum expansion chains such as Optimism and Arbitrum, BTC on BOB also remains native, called “BTC”
for short.According to reports, BOB BitVM testnet partners are all members of the BitVM Alliance. The BitVM Alliance is committed to advancing BitVM from theoretical research to the practical application stage. Alliance members are working together to support testnet testing by running or launching BOB BitVM nodes. The participation of these leading DeFi “players”
has greatly accelerated the pace of implementation and implementation of BitVM.
It also marks the BitVM Alliance (a cooperative organization of leading BitVM builders) Other partners are running the BitVM infrastructure for the first time, and it can be seen from this that the BitVM bridge
can actually be used in actual development. Alexei,co-founder of BOB and founding member of the BitVM Alliance Zamyatin said, “Our vision has always been to put Bitcoin at the heart of the DeFi system, and BitVM made that vision possible. With the introduction of native Bitcoin on BOB and guaranteed by the Bitcoin Native Network, there is no need to trust any third-party centralized agency.
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Furthermore, Alexei Zamyatin predicts that Bitcoin DeFi will explode in the near future, and the construction of the BitVM infrastructure will help unlock Bitcoin's trillion dollars of liquidity in the multi-chain ecosystem. Alexei Zamyatin explained, “This launch of the BitVM testnet covers a wide range of partners — investment institutions, infrastructure, liquidity providers (LPs), and DeFi protocols. Here, I'd like to particularly thank the BitVM Alliance partners: P2P.org, Lombard, Solv Protocol, Amber Group, Ankr, RockawayX, Fiamma, UTXO Management, Luganodes, and SatLayer for their support and feedback on BOB's newly designed BitVM bridge.
”“Joining the BitVM Alliance and participating in BOB's newly launched BitVM testnet is a natural extension of Solv's mission: unlocking the trillions of dollars in liquidity and revenue from native Bitcoin assets. We believe BitVM represents a path to trustless BTC DeFi, and BOB's BitVM testnet confirms just that. BitVM's trustless architecture fits perfectly with our vision: to achieve institutional-level benefits based entirely on the Bitcoin protocol itself and bring that benefit to Bitcoin. ” said Ryan Chow, co-founder and CEO of Solv Protocol
.
“At P2P.org, we have always believed that Bitcoin's potential lies in its ability to become The foundation of the DeFi system, not just dormant digital gold. BOB's BitVM bridge represents a fundamental breakthrough, allowing native BTC to participate in the DeFi system without overcoming the trust issues that hinder the development of the BTC DeFi ecosystem. We're excited to contribute our expertise to the BitVM testnet because we've always believed BitVM is the missing piece of the puzzle to unlock Bitcoin's trillions of dollars in liquidity. ” Artemiy Parshakov, vice president of institutional business at P2P.org
, said.As a hybrid Layer2 chain, BOB combines the advantages of the Bitcoin and Ethereum networks, compared to Bitcoin DeFi provides the best entry point. This unique hybrid Layer2
model substantially improves the existing BitVM bridge design:
- Ethereum-based data availability: Use lower-cost Ethereum data blocks for fraud-proof data access rather than relying on Bitcoin for data storage. As a result, BOB-based BitVM inherits the same censorship-resistant characteristics as Ethereum sidechains like Arbitrum or Base .
- Divide the operator role into two: The operator node is responsible for the calculation, and the operator's liquidity provider (LP) is responsible for providing BTC liquidity for withdrawal. The system draws on the Proof of Stake (PoS) system , which can specialize roles and match institutional products, thereby improving efficiency and lowering capital thresholds.
- Collateral reuse: based on Citrea and CommonPrefix's research, BOB allows operators to reuse BTC collateral across multiple BitVM instances, thereby significantly improving scalability.
About BOB (Build on Bitcoin)
BOB (Build on Bitcoin) It's a hybrid Layer 2 network that combines the best of Bitcoin and Ethereum, and is committed to building itself into “BTC” “Home of DeFi”. The unique Hybrid L2 model combines the strengths of two ecosystems — Bitcoin's security and dormant BTC capital, and Ethereum's DeFi innovation and versatility. By positioning BTC as the backbone of a new decentralized finance system, BOB can unlock new use cases and trillions of BTC liquidity. Using the BitVM protocol, Bob perfectly inherits the security of the Bitcoin network and creates a bridge with minimal trust between BOB, Bitcoin, Ethereum, and other L1 networks. Therefore, Hybrid L2 does not need to rely on third-party cross-chain bridges to achieve interoperability, and easily concentrates liquidity around the Bitcoin network rather than scattered across chains
.Bob got Castle Island Ventures, Coinbase Support from leading investment institutions such as Ventures, Ledger Cathay Ventures, and IOSG.
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