PANews reported on April 4 that the modular BTC Layer2 one-click chain issuance platform UTXO Stack completed its seed round of financing. This round was jointly led by ABCDE and SNZ Capital, with strategic investment from CKB Ecological Fund, and followed by Waterdrip Capital, Matrixport, y2z Ventures, DRK Lab and UTXO Management, the venture capital department of Bitcoin Magazine's parent company BTC Inc.
UTXO Stack will be committed to expanding the Bitcoin ecosystem, helping project developers to start the BTC Layer2 based on the UTXO architecture with one click, and natively integrating the RGB++ protocol capabilities, so that BTC and Stack's parallel Layer2 can achieve seamless interoperability without a cross-chain bridge, and can ensure the security of Layer2 by staking BTC, CKB and BTC L1 assets.
Cipher, founder of UTXO Stack and author of RGB++ protocol, said: “If RGB++ solves the problems faced by the original RGB protocol in technical implementation, and brings Turing-complete smart contract capabilities to BTC L1 assets without cross-chain through isomorphic binding technology, then UTXO Stack will provide BTC Dapp with a scalable and pledgeable UTXO Layer2 solution to achieve seamless interoperability of all chains.”
CKB Eco Fund Partner Baiyu said: "With more and more UTXO assets issued on Bitcoin based on the RGB++ protocol and other base layer protocols, the implementation of UTXO Stack will usher in unprecedented development for the BTC ecosystem. The combination of UTXO Stack and RGB++ will give it unparalleled advantages over other Bitcoin Layer 2 solutions."
