Botanix Labs
Botanix Labs built Spiderchain, a decentralized EVM-compatible Bitcoin Layer-2 network enabling smart contracts, DeFi, and BTC yield for retail Bitcoin holders and DeFi developers. The company self-served globally and shut down on July 1, 2026.
- Company typePrivate
- Founded2022
- HeadquartersBoston, United States
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
What Botanix Labs does
Botanix Labs was a Boston-headquartered, Delaware-incorporated blockchain infrastructure company founded in 2022 that developed Spiderchain, a decentralized Bitcoin Layer-2 network providing Ethereum Virtual Machine (EVM) compatibility on Bitcoin's base layer. The core technology employed a federation model of independent operators (upgraded from 16 to 64 signers) to secure the network and enable smart contract functionality, allowing users to bridge BTC, stake for yield, lend and borrow against Bitcoin collateral, trade tokens, and execute Lightning Network payments. Product offerings included the Spiderchain mainnet, the Botanix Bridge, Botanix Yield (BTC staking with permissionless yield accrual), the Botanix Wallet, and BINK (a Bitcoin neobank launched weeks before shutdown).
The company operated a fully self-serve, community-led go-to-market model with no sales team, distributing globally via its website and Discord community. Its target customers were Bitcoin holders seeking yield and DeFi access (primary segment) and DeFi developers building on Bitcoin infrastructure (secondary segment). Revenue was generated exclusively through transaction fees from network usage — bridge operations, yield staking, lending, borrowing, and token swaps — though the company explicitly stated that fee income never covered infrastructure costs despite processing over 26 million cumulative transactions across 176,056 unique addresses.
Botanix Labs raised approximately $11.5 million in total venture funding, with a $8.5 million seed round in May 2024 led by Polychain Capital with participation from Placeholder and others. The company integrated with major DeFi infrastructure providers including Chainlink, OKX, Dolomite, GMX, and the Lightning Network. On June 10, 2026, Botanix Labs announced the shutdown of all operations effective July 1, 2026, citing insufficient demand for Bitcoin-native DeFi and a user preference for centralized wrapped Bitcoin solutions on Ethereum over decentralized Layer-2 alternatives. Users were required to withdraw assets before July 9, 2026.
Botanix Labs firmographics
Firmographics- Name
- Botanix Labs
- Legal name
- Botanix Labs Inc
- Website
- https://botanixlabs.xyz
- Company type
- Private
- Founded year
- 2022
- Operating status
- Closed
- Headcount range
- 11–50 employees
- Short description
- Botanix Labs built Spiderchain, a decentralized EVM-compatible Bitcoin Layer-2 network enabling smart contracts, DeFi, and BTC yield for retail Bitcoin holders and DeFi developers. The company self-served globally and shut down on July 1, 2026.
- Ownership category
- akta.pro rank
Botanix Labs industry classification
Industry- Product category
- Bitcoin Layer-2 Blockchain Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Securities and Commodity Exchanges (523210)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)
- akta.pro primary industry
- On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury) (FSAGAMAD)
- akta.pro secondary industries
- Stablecoins & On-Chain Money (fiat-backed, crypto-backed, algorithmic; issuance/redemption) (FSAPAEAB), Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails) (FSAPAIAJ), Borrowing/Lending Risk & Credit Infrastructure (on-chain credit scoring, risk engines, insurance wrappers) (FSAPAEAI), Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL)
Keywords
Where Botanix Labs is headquartered
LocationHeadquarters
- HQ city
- Boston
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Botanix Labs business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales
Revenue model
- Transaction Fees: The Spiderchain network generates revenue through transaction fees from processing Bitcoin Layer-2 transactions including bridge operations, yield staking, lending/borrowing, and token swaps. However, the company cited insufficient fee revenue to cover infrastructure costs as a primary reason for shutdown.
- DeFi Protocol Fees: Fee income from DeFi applications built on the network including lending, borrowing, trading, and stablecoin protocols. The company was unable to generate sufficient fee volume despite 25 million transactions and 200,000 wallets.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Bitcoin staking with yield accrual |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels4 records
Botanix Labs product offering
Product offeringCore offering
Botanix Labs operates Spiderchain, an EVM-equivalent Bitcoin Layer-2 blockchain that enables smart contracts and decentralized finance directly on Bitcoin's security model. The network offers native BTC staking yield, a federation-based bridge for Bitcoin, and tooling for developers to build DeFi applications without wrapped or bridged assets. Supporting products include Botanix Yield, Botanix Bridge, Botanix EVM, Botanix Wallet, and the BINK Bitcoin neobank.
Product overview
Botanix Labs built a Bitcoin Layer-2 ecosystem comprising the Spiderchain network (a decentralized EVM-compatible chain), the Bridge (for transferring BTC to Layer-2), the Yield product (for staking BTC and earning yield), and the Botanix Wallet (for managing BTC and Lightning payments). The company launched BINK, a bitcoin neobank, shortly before announcing shutdown. The company announced it was shutting down all operations on July 1, 2026, with users required to withdraw assets before July 9, 2026, citing insufficient demand for Bitcoin-native DeFi and inability to cover infrastructure costs from fee revenue.
Differentiator
Problem solved
Functional benefit
Brands
- Spiderchain: A decentralized Bitcoin Layer-2 network developed by Botanix Labs, featuring a network of independent operators (Federation validators) for secure, decentralized transactions.
- BINK
Products and services
- Spiderchain
- Botanix Bridge
- Botanix Yield
- Botanix EVM
- Botanix Wallet
- BINK
Quantifiable outcome
- 25 million transactions processed across 200,000 wallets
- +3 more outcomes
Companies that use Botanix Labs
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
Botanix Labs technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature5 records
Botanix Labs partnerships and signals
Strategic signalScale indicators7 records
Recent moves7 records
Expansion highlights4 records
Botanix Labs competitors and assessment
Company assessmentDirect peers
- Stacks: The leading Bitcoin Layer-2 for smart contracts, using a Proof-of-Transfer mechanism. Directly competes with Botanix by enabling DeFi and programmable functionality on Bitcoin.
- Rootstock (RSK): A Bitcoin sidechain with EVM compatibility and merge-mined security. One of the longest-running Bitcoin L2s and a direct competitor in the BTC DeFi space.
- Liquid Network: A Bitcoin sidechain operated by Blockstream for fast settlement and asset issuance. Comparable as a Bitcoin-native L2 with financial services and tokenization use cases.
Emerging players
- Babylon Labs: A Bitcoin staking protocol that enables BTC to be used as security for PoS chains. Comparable thesis of unlocking Bitcoin capital productivity, the same demand Botanix targeted.
- Merlin Chain: A Bitcoin L2 focused on scaling and DeFi using ZK and fraud-proof mechanisms. Competes directly with Botanix for Bitcoin DeFi TVL and developer mindshare.
- BounceBit: A Bitcoin L2 offering CeDeFi yield products on BTC. Targets a similar Bitcoin-holder yield-seeking user base as Botanix's Yield product.
- Sovryn: A decentralized Bitcoin DeFi protocol built on Rootstock, offering lending, borrowing, and trading. Comparable as a Bitcoin-native DeFi application layer.
- Alex (Bitcoin DeFi): A Bitcoin DeFi launchpad and AMM built on Stacks. Comparable as a Bitcoin-native DeFi application layer pursuing BTC financialization.
Broad incumbents
- Core DAO: A Bitcoin-aligned EVM-compatible Layer-1 using Satoshi Plus consensus. Offers a broader Bitcoin-peg ecosystem and a larger tokenholder base than Botanix.
Others
- Lightning Network: Bitcoin's primary payments L2 for fast, low-cost transactions. Botanix integrated Lightning for payments, making it an enabling infrastructure dependency rather than a direct competitor.
Market position
Strengths2 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights5 records
Customer concentration
Botanix Labs social profiles
Digital presenceBotanix Labs financial estimates
Financial estimateRevenue estimate
Valuation estimate
Botanix Labs leadership team
Management profileNumber of profiles
Profiles1 record
Botanix Labs funding detail
Funding detailFunding overview
Funding rounds3 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Botanix Labs M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Botanix Labs
What does Botanix Labs do?
Botanix Labs operates Spiderchain, an EVM-equivalent Bitcoin Layer-2 blockchain that enables smart contracts and decentralized finance directly on Bitcoin's security model. The network offers native BTC staking yield, a federation-based bridge for Bitcoin, and tooling for developers to build DeFi applications without wrapped or bridged assets. Supporting products include Botanix Yield, Botanix Bridge, Botanix EVM, Botanix Wallet, and the BINK Bitcoin neobank.
Is Botanix Labs a public or private company?
Botanix Labs is a private company. It is classified as venture growth investor backed and is currently closed.
When was Botanix Labs founded?
Botanix Labs was founded in 2022. It employs 11 to 50 people.
Where is Botanix Labs based?
Botanix Labs is headquartered in Boston, United States, in the North America region.
How does Botanix Labs make money?
Two revenue lines are on record. Transaction Fees are the primary driver. The others are deFi Protocol Fees.
Who are Botanix Labs's main competitors?
Direct peers on record are Stacks, Rootstock (RSK) and Liquid Network. Emerging players are Babylon Labs, Merlin Chain, BounceBit, Sovryn and Alex (Bitcoin DeFi). Core DAO is listed as a broad incumbent. Lightning Network is listed as an others.
Does Botanix Labs have an API?
No public API is recorded for Botanix Labs.
What industry is Botanix Labs in?
Botanix Labs's product category is Bitcoin Layer-2 Blockchain Infrastructure. Its primary akta.pro industry code is FSAGAMAD, On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury), with a secondary code of FSAPAEAB, Stablecoins & On-Chain Money (fiat-backed, crypto-backed, algorithmic; issuance/redemption). Its NAICS code is 522320 and its SIC code is 6200.