Bitcoin News Today: Midl Secures $2.4M Seed to Enable Native Bitcoin dApps with Draper-Led Investment

Midl has secured a $2.4 million seed funding round to develop a groundbreaking infrastructure that enables native decentralized applications (dApps) on the Bitcoin blockchain. The round was led by Draper Associates and Draper Dragon, the investment firm and fund founded by Tim Draper, known for early investments in companies such as Coinbase and Robinhood [1]. This milestone is seen as a major step forward in unlocking Bitcoin’s potential beyond its role as a store of value, positioning it at the forefront of decentralized finance (DeFi) and broader smart contract innovation.

Unlike existing solutions that rely on sidechains or Layer 2 protocols, Midl integrates smart contract functionality directly into the core Bitcoin blockchain, enabling developers to build and deploy dApps on Bitcoin itself [1]. This approach allows for native token standards to be implemented instantly, leveraging Bitcoin’s vast liquidity pool of over $2 trillion. The platform is designed to make Bitcoin programmable and applicable across a wide range of sectors, including government, video games, and financial markets.

According to Iva Wisher, founder of Midl, this advancement marks a first in the cryptocurrency industry—making Bitcoin programmable through a native infrastructure. “It’s remarkable to be early to something this significant,” Wisher noted [1]. The platform is already showing momentum, with over 20 projects currently deployed on the Midl testnet and an imminent transition to mainnet. These developments suggest a growing ecosystem is forming around native Bitcoin-based applications.

The involvement of Draper-led investors underscores institutional confidence in the future of Bitcoin-native DeFi, also referred to as BTCFi. The firm has a history of backing innovative blockchain startups and sees Midl as a key player in this emerging space [1]. With more than 20 projects already in development on the testnet, the platform is preparing to launch its mainnet in the near future.

Midl’s technology allows for multiple smart contract interactions within a single Bitcoin transaction, enhancing scalability and throughput while maintaining the security that has long defined Bitcoin [1]. This capability could redefine how Bitcoin is used, moving it from a purely monetary asset to a versatile platform for decentralized innovation. The platform's early adoption strategies also include initiatives aimed at increasing Bitcoin’s liquidity and adoption at the retail level.

The investment and technological progress represent a pivotal moment for Bitcoin, potentially shifting the narrative from a value store to a fully programmable blockchain capable of supporting a wide range of applications and services.

Source: [1] Midl Lands $2.4M Seed Boost to Revolutionize Bitcoin dApps

https://www.livebitcoinnews.com/midl-lands-2-4m-seed-boost-to-revolutionize-bitcoin-dapps/