DLC.Link receives sponsorship from the Arbitrum Foundation
DLC.Link is pleased to announce that it has received sponsorship from the Arbitrum Foundation. This sponsorship was awarded after the total value locked (TVL) of DLC.Link's decentralized wrapped Bitcoin, dlcBTC, reached $1 million within the first month of its launch.
In April 2024, dlcBTC made its debut on Arbitrum, becoming the first decentralized wrapped BTC on the network. Arbitrum is known for its leading Ethereum Layer 2 (L2) scaling solution, boasting the highest TVL among all L2 networks. dlcBTC users can benefit greatly from the network's low gas fees and Ethereum's robust security features.
Grants
The Arbitrum Foundation's grant program aims to foster ecosystem development by allocating funds to projects that can make a significant impact. Grants will be awarded to those initiatives that can enhance adoption, strengthen the technological foundation, and promote sustainable community development within the Arbitrum ecosystem.
DLC.Link received this grant in the first phase of the program, marking a rapid achievement of $1 million in TVL within just one month of going live. This milestone highlights DLC.Link's unique potential and vision in the decentralized finance (DeFi) space.
What This Grant Means to Us
Receiving this grant places DLC.Link among the select projects supported by the Arbitrum Foundation, underscoring the significant impact of our innovative approach and technology. The funding and recognition from the Arbitrum Foundation support our mission to redefine DeFi with Bitcoin.
This grant comes at a crucial time as we are actively collaborating with more merchants, liquidity providers, node operators, and DeFi protocols on the Arbitrum network. Our goal is to expand our product offerings and strengthen our market position, making dlcBTC a key asset in the DeFi ecosystem.
About the Arbitrum Foundation
The Arbitrum Foundation is dedicated to supporting the development and adoption of the Arbitrum protocol. Arbitrum, developed by Offchain Labs, is a Layer 2 scaling solution for Ethereum that enhances its scalability and efficiency.
About DLC.Link
DLC.Link leverages the power of Discreet Log Contracts (DLC) to create a theft-resistant bridge between Bitcoin and Ethereum. In 2024, DLC.Link launched dlcBTC, allowing depositors to wrap Bitcoin into DeFi on Ethereum while retaining full custody of their assets. This innovation transforms the role of Bitcoin in DeFi, enabling depositors to engage in trading, lending, and hedging while maintaining self-sovereignty.