Botanix Labs is a fintech company founded in 2023 that is developing an innovative Spiderchain protocol that turns Bitcoin into a programmable platform for decentralized applications (dApps). Using a Proof-of-Stake (PoS) model on top of the Bitcoin blockchain, Botanix preserves the security and decentralization of Bitcoin while providing opportunities for the development and use of smart contracts.
Spiderchain is a second-layer layer compatible with the Ethereum Virtual Machine (EVM), allowing developers to migrate dApps from Ethereum to Bitcoin without changes to the code. The system uses multi-signatures and randomly selected validators (Orchestrator nodes) to ensure security and decentralization. Each Bitcoin block generates a new multi-signature wallet, ensuring the safety of users' funds.
Botanix Labs is actively developing the ecosystem, collaborating with various projects and providing developer tools such as a testnet, documentation, and SDK. The company aims to create a self-sustaining financial system on Bitcoin by integrating DeFi capabilities and stimulating the growth of decentralized applications.
Since the launch of the testnet in November 2023, Botanix Labs has attracted the attention of the community and investors, having received $11.5 million in funding from the likes of Polychain Capital and Valor Equity Partners. The company continues to expand its presence in the market and plans to launch its mainnet in the near future.
