BOB brings native BTC (rather than wrapped BTC) into its extensive Bitcoin DeFi ecosystem, marking the dawn of a new era for Bitcoin DeFi. The brand new BitVM bridge testnet is supported by leading industry institutions including P2P.org, Lombard, Solv Protocol, Amber Group, Ankr, RockawayX, Fiamma, UTXO Management, Luganodes, and SatLayer.

On July 2, the hybrid Layer2 project BOB (Build on Bitcoin) announced the official activation of native BTC in its BitVM testnet, which is supported by ten leading industry and DeFi institutions including P2P.org, Lombard, Solv Protocol, Amber Group, Ankr, RockawayX, Fiamma, UTXO Management, Luganodes, and SatLayer. After the testnet goes live, the BitVM bridge and native BTC will launch on the BOB mainnet in the fourth quarter of 2025.

The activation of native BTC on the BitVM testnet successfully solidifies BOB's position as the "home" of Bitcoin DeFi, as it introduces native BTC (rather than wrapped BTC) into its extensive Bitcoin DeFi ecosystem, fundamentally differentiating it from the wrapped BTC currently used in DeFi, which relies on centralized custodians or multi-signature solutions. BOB's BitVM bridge employs an anti-fraud "1-of-N" security mechanism to provide Bitcoin security assurances. Just as ETH remains "ETH" on Ethereum scaling chains like Optimism and Arbitrum, BTC on BOB also retains its native status, referred to as "BTC."

It is reported that all partners of the BOB BitVM testnet are members of the BitVM Alliance, which is dedicated to advancing BitVM from theoretical research to practical application. Alliance members are collectively contributing by running or launching BOB BitVM nodes to support the testnet trials, and the participation of these leading DeFi "players" has significantly accelerated the practical implementation and deployment of BitVM.

This also marks the first time partners outside the BitVM Alliance (a collaborative organization composed of leading BitVM builders) are operating BitVM infrastructure, demonstrating that the BitVM bridge is practically usable in real-world development.

Alexei Zamyatin, co-founder of BOB and founding member of the BitVM Alliance, stated: "Our vision has always been to place Bitcoin at the core of the DeFi system, and BitVM makes this vision possible. With the launch of native Bitcoin on BOB, guaranteed by the native Bitcoin network, there is no need to trust any third-party centralized institution."

Additionally, Alexei Zamyatin predicts that Bitcoin DeFi will soon experience explosive growth, and the establishment of BitVM infrastructure will help unlock trillions of dollars in liquidity for Bitcoin within the multi-chain ecosystem. Alexei Zamyatin introduced, "The release of the BitVM testnet encompasses a wide range of partners—investment institutions, infrastructure, liquidity providers (LPs), and DeFi protocols. Here, I would like to especially thank the partners of the BitVM Alliance: 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: to unlock trillions of dollars in liquidity and yield from native Bitcoin assets. We believe BitVM represents a pathway to trustless BTC DeFi, and BOB's BitVM testnet precisely confirms this. The trustless architecture of BitVM perfectly aligns with our vision: to achieve institution-grade yields entirely based on the Bitcoin protocol itself and bring that yield into 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 serve as the foundation of DeFi systems, rather than just being dormant digital gold. BOB's BitVM bridge represents a fundamental breakthrough, enabling native BTC to participate in the DeFi system without overcoming the trust issues that hinder the development of the BTC DeFi ecosystem. We are excited to contribute our expertise to the BitVM testnet, as we have always viewed BitVM as the missing piece to unlock trillions of dollars in Bitcoin liquidity," said Artemiy Parshakov, Vice President of Institutional Business at P2P.org.

As a hybrid Layer2 chain, BOB combines the advantages of both Bitcoin and Ethereum networks, providing the best entry point for Bitcoin DeFi. This unique hybrid Layer2 model significantly improves the existing BitVM bridge design:

• Ethereum-based data availability: Utilizing lower-cost Ethereum data blocks for anti-fraud data access, rather than relying on Bitcoin for data storage. Therefore, the BOB-based BitVM inherits the same anti-censorship properties as Ethereum sidechains like Arbitrum or Base.
• Division of operator roles: Operator nodes are responsible for computation, while operator liquidity providers (LPs) are responsible for providing BTC liquidity for withdrawals. This system draws from proof-of-stake (PoS) systems, allowing for role specialization that matches institutional products, thereby improving efficiency and lowering capital thresholds.
• Collateral reuse: Based on research from Citrea and CommonPrefix, BOB allows operators to reuse BTC collateral across multiple BitVM instances, significantly enhancing scalability.

About BOB (Build on Bitcoin)

BOB (Build on Bitcoin) is a hybrid Layer 2 network that combines the advantages of Bitcoin and Ethereum, aiming to establish itself as the "home of BTC DeFi." The unique Hybrid L2 model merges the strengths of both ecosystems—Bitcoin's security and dormant BTC capital, along with Ethereum's DeFi innovation and versatility. By positioning BTC as the pillar of a new decentralized financial system, BOB can unlock new use cases and trillions in BTC liquidity. BOB perfectly inherits the security of the Bitcoin network through the BitVM protocol and creates trust-minimized bridges between BOB, Bitcoin, Ethereum, and other L1 networks. Thus, the Hybrid L2 does not need to rely on third-party cross-chain bridges for interoperability, easily concentrating liquidity around the Bitcoin network rather than dispersing it across various chains.

BOB is supported by leading investment institutions such as Castle Island Ventures, Coinbase Ventures, Ledger Cathay Ventures, and IOSG.
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