Arch Labs, a company pioneering the next chapter of Bitcoin, has secured $7 million in funding to develop a revolutionary application platform built directly on the Bitcoin blockchain. This seed round, led by the industry giant Multicoin Capital, empowers Arch Labs to unlock the full potential of DeFi (decentralized finance) within the secure walls of Bitcoin itself.

"Gone are the days of secondary layers and bridges compromising security," says Matt Mudano, Arch's co-founder and CEO. "The Ordinals protocol marked a turning point, and Arch capitalizes on this shift. We're building an entirely new ecosystem of applications leveraging the unparalleled security and liquidity of the Bitcoin network."

This funding fuels Arch Labs' mission by allowing them to expand their development team with top talent. With these reinforcements, Arch aims to rapidly create and refine an exciting suite of decentralized applications, all native to Bitcoin.

Here's what sets Arch apart:

Bridgeless bliss: Unlike current DeFi solutions, Arch eliminates the need for insecure bridges or secondary layers. Users directly interact with their assets on the Bitcoin blockchain, maintaining utmost security.

Powerhouse under the hood: Arch utilizes a parallelized, proof-of-stake system alongside a Rust-based zkVM (zero-knowledge virtual machine) called ArchVM. This creates a trustless execution environment within the Bitcoin blockchain itself.

Security without sacrifice: "We evaluated numerous Bitcoin Layer 2 solutions," says Multicoin Capital's Vishal Kankani, "and all prioritize speed at the cost of security. Arch stands out because it's not a Layer 2. Users won't have to bridge assets to an unreliable chain."

The roadmap for Arch is clear: a public development network (devnet) will launch first, allowing early adopters to explore the platform's capabilities and contribute to its refinement. This paves the way for a stable and feature-rich mainnet launch later in 2024.

Get ready to witness Bitcoin take flight. Arch Labs is building the future of secure, native DeFi, and this $7 million investment fuels their mission to make it a reality.