Botanix Labs, the developer of Bitcoin layer-2 network Spiderchain, is entering its final testnet phase before its planned mainnet launch in 2025. The testnet, known as Aragog, will introduce tools for the mainnet's decentralized finance (DeFi) offerings, including a bitcoin-backed stablecoin, decentralized exchange, and lending and borrowing market. Botanix Labs aims to make Spiderchain compatible with the Ethereum Virtual Machine (EVM) to enable the migration of applications and smart contracts from Ethereum to Bitcoin. The goal is to bring Bitcoin back online and onchain, allowing it to transition from digital gold to a full global currency. Several other Bitcoin layer-2 projects are pursuing similar goals to enhance the utility and programmability of the Bitcoin network.



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