May 9, 2024
DLC.Link, a pioneering Bitcoin DeFi protocol, has successfully raised $2 million in its latest funding round. This investment, led by CGV FoF, will drive the development of a decentralized cross-chain platform that leverages Discreet Log Contracts (DLCs) to enable Bitcoin use in DeFi protocols while maintaining self-custody.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
May 9, 2024 | $2M | Seed | $2M | CGV FoF | Web3 |
What is DLC.Link?
DLC.Link utilizes Discreet Log Contracts to mint dlcBTC, a decentralized wrapped Bitcoin. This process ensures Bitcoin deposits remain secure and resistant to censorship, as funds can only be retrieved by the original depositor. Unlike other wrapped Bitcoin solutions, dlcBTC does not require Bitcoin to be held by a custodian or bridged to a separate blockchain.
Key Features:
Self-Wrapping Mechanism: Users lock their Bitcoin in a DLC, minting dlcBTC while retaining full control.
Security and Censorship Resistance: Ensures funds cannot be lost through hacks or fraud.
Ethereum Bridge: DLC.Link connects Bitcoin to Ethereum DeFi protocols without separate validator nodes.
Recent Funding and Future Plans
The $2 million seed funding, led by CGV FoF, will be used to accelerate the platform's development and expand its network of DLC Attestors, which include prominent names like OKX, HashKey Cloud, and Republic.
Key Benefits
Enhanced Security: DLCs provide a theft-proof wrapping mechanism for Bitcoin.
Increased DeFi Adoption: Bridges Bitcoin liquidity to Ethereum DeFi protocols.
Decentralized Custody: Eliminates the need for custodians, enhancing decentralization.
Impact of DLC.Link
DLC.Link's innovative approach to Bitcoin DeFi integration is set to transform the landscape by offering a secure, decentralized solution for using Bitcoin in DeFi protocols. This development not only enhances Bitcoin's utility but also fosters a more inclusive financial ecosystem.
About DLC.Link
DLC.Link is a Bitcoin DeFi protocol that enables the use of Bitcoin in decentralized finance through Discreet Log Contracts. This technology ensures secure, self-custody wrapped Bitcoin, bridging the gap between Bitcoin and Ethereum DeFi ecosystems.
Website:https://www.dlc.link/
X Account: @DLC_Link
X Followers today: 3,357
X Followers 30 days ago: 1,201
X Follower change: 2,156 (+179%)
About Investor
Investor: CGV FoF
Description: CGV FoF is a venture capital firm focused on supporting innovative projects in the cryptocurrency and blockchain space.
Location: Tokyo, Japan
Website: https://www.cgv.fund/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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