DLC.Link is excited to announce that it has secured a grant from the Arbitrum Foundation. The grant comes in the wake of dlcBTC, DLC.Link's decentralized wrapped Bitcoin, reaching $1 million in total value locked (TVL) within its first month of launch.
In April 2024, dlcBTC made its debut on Arbitrum, becoming the first decentralized wrapped BTC on the network. Arbitrum, renowned for being the leading Layer 2 (L2) scaling solution for Ethereum, boasts the highest TVL among all L2 networks. dlcBTC users can benefit immensely from the network's low gas fees and the robust security features of Ethereum.
The Grant
The Arbitrum Foundation's grant program aims to foster ecosystem growth by allocating funds to projects with the potential for significant impact. Grants are awarded to initiatives that can enhance adoption, strengthen technical foundations, and promote sustainable communities within the Arbitrum ecosystem.
DLC.Link received this grant in Phase I of the program, acknowledging the rapid achievement of $1 million in TVL within just one month of launch. This milestone underscores the unique potential and vision of DLC.Link in the decentralized finance (DeFi) space.
What the Grant Means to Us
Receiving this grant places DLC.Link among a select group of projects supported by the Arbitrum Foundation, highlighting our innovative approach and the significant impact of our technology. The financial support and validation from the Arbitrum Foundation bolster our mission to redefine DeFi with Bitcoin.
This grant arrives at a crucial time as we are actively engaging with more merchants, liquidity providers, node operators, and DeFi protocols on the Arbitrum network. Our goal is to expand our offerings and strengthen our market position, making dlcBTC a pivotal asset in the DeFi ecosystem.
About Arbitrum Foundation
The Arbitrum Foundation is dedicated to supporting the development and adoption of the Arbitrum protocol. Developed by Offchain Labs, Arbitrum is a layer 2 scaling solution for Ethereum, enhancing its scalability and efficiency.
About DLC.Link
DLC.Link harnesses the power of Discreet Log Contracts (DLCs) to establish a theft-proof bridge between Bitcoin and Ethereum. In 2024, DLC.Link launched dlcBTC, enabling depositors to self-wrap their Bitcoin for DeFi on Ethereum while retaining full custody of their assets. This innovation transforms Bitcoin's role in DeFi, empowering depositors to engage in trading, lending, and hedging while maintaining self-sovereignty
Stay tuned for more updates and developments from DLC.Link as we continue to drive innovation and growth in the DeFi space.
