Midl has successfully secured a $2.4 million seed investment led by Draper Associates and Draper Dragon, signaling a major step forward in the development of native decentralized applications (dApps) on the Bitcoin network [1]. The funding underscores the growing interest in Bitcoin-native decentralized finance (BTCFi) and highlights the institutional confidence in expanding the capabilities of the world’s largest cryptocurrency.

The platform is designed to introduce smart contract functionality directly on the Bitcoin blockchain without relying on sidechains, bridges, or Layer 2 solutions. Instead, Midl creates a native execution environment where developers can build and deploy full-scale dApps and financial services directly on the Bitcoin network [1]. This approach aims to leverage the $2 trillion in liquidity already present on Bitcoin, transforming it into a more programmable and application-friendly asset.

Iva Wisher, founder of Midl, emphasized that the platform enables Bitcoin to be used in ways previously unimagined, allowing for the development of real-world applications and economies on the network [1]. Currently in the testnet phase, Midl has already launched early DeFi protocols and has over 20 additional projects in development. The company is also working on initiatives to foster adoption and liquidity within the Bitcoin ecosystem from the outset.

Draper Associates and Draper Dragon, the lead and co-investors respectively, are well-known for backing disruptive tech and crypto projects. Their prior investments include companies like Coinbase, Robinhood, Ledger, Kelp DAO, and Ether.Fi [1]. This investment reinforces Midl’s potential to reshape Bitcoin’s role in the broader decentralized finance landscape.

The platform’s architecture allows for multiple Ethereum Virtual Machine (EVM)-like interactions within a single Bitcoin transaction, significantly improving scalability and user experience [1]. By enabling developers to build directly on Bitcoin, Midl aims to replicate functionalities previously limited to other blockchain networks, such as Ethereum. This could lead to a new wave of innovation in the space, driven by Bitcoin’s security and widespread adoption.

As Midl prepares for its imminent mainnet launch, the investment and underlying technology position the platform to play a pivotal role in Bitcoin’s next stage of evolution. The broader implications for BTCFi—native decentralized finance on Bitcoin—could become clearer as the ecosystem matures. With institutional backing and a strong technical foundation, Midl is well-positioned to drive the next wave of innovation in Bitcoin-based applications and services.

Source: [1] Midl Secures $2.4M Seed Investment from Draper Associates and Draper Dragon to Pioneer Native dApp Infrastructure on Bitcoin – Branded Spotlight Bitcoin News (https://www.dlnews.com/external/midl-secures-24m-seed-investment-from-draper-associates-and-draper-dragon-to-pioneer-native-dapp-infrastructure-on-bitcoin/)