Botanix Labs launches final testnet for its Bitcoin L2

Botanix Labs, a decentralized layer 2 platform designed specifically for Bitcoin-specific decentralized finance, has announced that the final testnet of its solution is live.

The testnet goes live with the launch of the Aragog Testnet, the latest testnet version of Spiderchain Bitcoin (BTC) L2. Aragog replaces the v0 testnet, which launched in November 2023, and includes a “pre-mainnet deployment” of multiple Bitcoin native implementations.

The Botanix team said in a press release that Aragog Testnet brings its blockchain solution closer to its mainnet launch planned for 2025.

Botanix Labs has several local teams working on Spiderchain DeFi fundamentals through its new testnet. These include Bitcoin-backed stablecoin Palladium, decentralized exchange and automated market maker Bitzy, and lending/borrowing marketplace Spindle. Liquid stake token provider Rover and persistent DEC platform BitPerp are also based on the Spiderchain testnet.

Like other testnet environments, Aragog will allow developers to test their decentralized applications. Users participating in the test network will help stress test networks with tasks such as identifying bugs that are key to eventual mainnet deployment.

The Aragog release significantly improves on the previous testnet by moving beyond a single node to running distributed sequencers with full nodes. According to the team, the nodes are geographically decentralized and spread across the Americas, Africa, Europe and Asia.

Various platforms and solutions have been launched as part of the quest to bring Bitcoin on-chain and into the DeFi ecosystem. The ecosystem has attracted LST tokens, lending protocols, and other applications; because more and more people are trying to use their BTC beyond storing rewards.

Botanix Labs is collaborating with key industry players such as Chainlink, Vertex Protocol, and Solv Protocol to make this a reality for BTC holders. Botanix is ​​also building with web3 protocol The Graph and multi-chain explorer Routescan.

The Botanix team raised $11.5 million in a funding round led by Polychain and Placeholder in May 2024 and announced its integration with Chainlink’s CCIP in October.