What Botanix does

Botanix Labs, Inc. operated a Bitcoin-based EVM Layer 2 blockchain that brought Ethereum-style programmability to Bitcoin through its proprietary Spiderchain protocol — a series of successive multisigs between Botanix Orchestrators that decentralized Bitcoin custody via a 16-member federation, a 12-of-16 multisig threshold, CometBFT consensus, Distributed Key Generation, and FROST Schnorr threshold signatures. Founded in 2023 and incorporated in the United States, the company served two primary user segments: retail Bitcoin holders seeking to financialize idle BTC through staking, lending, and yield generation without selling, and Ethereum developers wanting to deploy existing smart contracts on Bitcoin's security model. Core products included the Botanix EVM mainnet, a Bridge service for pegging BTC in and out, a Yield staking platform advertising 3.6% APR, and third-party integrations with Dolomite (lending), GMX (perpetuals), and Lightning Network payments.

The business model was a self-serve, product-led growth platform with no enterprise sales force. Acquisition relied on Discord (~12,765 members), Telegram, comprehensive technical documentation, and organic content; revenue was generated solely from on-chain transaction fees, and the project never launched a token. Over four years of operation and one year of mainnet uptime, the network processed approximately 25–26 million transactions, ~176,000–200,000 wallets, and 8,387 smart contracts. The partner stack covered cross-chain messaging (LayerZero/Stargate), cross-chain security (Chainlink CCIP/Transporter), institutional custody (Fireblocks), multisig treasury (Gnosis Safe), oracles (Chainlink, Supra), RPC (Alchemy, Ankr), and indexing (The Graph, Alchemy Subgraphs, SubQuery).

In June 2026, Botanix announced its full wind-down with a July 1, 2026 shutdown and a July 9, 2026 asset withdrawal deadline. The company attributed the closure to insufficient demand for Bitcoin-native DeFi: fee revenue never covered infrastructure costs, and Bitcoin holders preferred routing wrapped BTC through established Ethereum Layer 2 networks rather than migrating to a new Bitcoin app-chain. The shutdown was a deliberate market exit, not a forced insolvency event.

Name

Botanix

Legal name

Botanix Labs, Inc.

Website

https://botanixlabs.com

Company type

Private

Founded year

2023

Operating status

Closed

Headcount range

1–10 employees

Short description

Botanix Labs operated a Bitcoin-based EVM Layer 2 blockchain using its Spiderchain protocol, enabling Bitcoin-native DeFi, staking, and lending for retail BTC holders and EVM developers before announcing its shutdown in June 2026.

Ownership category

akta.pro rank

Product category

Bitcoin Layer 2 Blockchain Infrastructure

NAICS

Securities and Commodity Exchanges (52321)

SIC

Finance Services (6199)

akta.pro primary industry

On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury) (FSAGAMAD)

akta.pro secondary industries

Decentralized Lending Protocols (DeFi Money Markets) (FSADAFAB), Tokenized Collateral & On-Chain Credit Infrastructure (Collateral Mgmt, Liquidations) (FSAGAMAK), Compliance, Risk & RegTech for Tokenized Assets (KYC/AML, sanctions, travel rule, reporting) (FSAPAIAH)

Keywords

• Bitcoin layer 2
• EVM compatible blockchain
• Bitcoin defi infrastructure
• Decentralized custody protocol
• Bitcoin staking platform

Headquarters

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Infrastructure, Technology or R&D

Revenue model

1. Transaction/Fee Revenue: Botanix generated revenue through transaction fees on its layer-2 network. However, fee income never matched infrastructure costs, leading to insufficient sustainable revenue. The network processed 25 million transactions but fee volume was insufficient to cover operational expenses.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Botanix operates a Bitcoin-based Layer 2 blockchain that provides EVM compatibility through the Spiderchain protocol, enabling users to bridge Bitcoin to the network, stake BTC to earn real Bitcoin yield, and access decentralized finance applications such as lending, borrowing, perpetual trading, and Lightning payments. The platform uses a 16-member federation with 12-of-16 multisig threshold signatures and Distributed Key Generation to secure bridged Bitcoin without wrapping. Botanix announced its wind-down effective July 1, 2026, after four years of operation due to insufficient fee revenue to cover infrastructure costs.

Product overview

Botanix is a Bitcoin-based layer-2 blockchain that provides Ethereum Virtual Machine (EVM) compatibility to Bitcoin, enabling Bitcoin-native financial applications like lending, staking, and yield generation. The core product is the Botanix EVM, powered by the Spiderchain protocol which creates a series of successive multisigs for securing bridged Bitcoin. The ecosystem includes a Bridge for transferring Bitcoin to/from the network, a Yield Platform for earning Bitcoin yield through staking, and integrations with Dolomite (lending/borrowing) and GMX (perpetual trading). Key technical components include DynaFed for dynamic federation management, FROST threshold signatures, and Distributed Key Generation. The platform also supports pegged Bitcoin (pBTC) and staked Bitcoin (stBTC) tokens. Botanix has shut down operations as of July 1, 2026.

Differentiator

Problem solved

Functional benefit

Brands

• Spiderchain: The Spiderchain protocol - a series of successive multisigs between Botanix Orchestrators that secures Bitcoin custody through decentralized multisig wallets.
• Botanix EVM

Products and services

• Botanix EVM (Mainnet) The first fully decentralized Bitcoin-based blockchain providing EVM compatibility. Enables developers to deploy Ethereum-style smart contracts and dApps on Bitcoin-secured infrastructure using the Spiderchain protocol. Targets Ethereum developers wanting to leverage Bitcoin's security.
• Spiderchain A series of successive multisigs between Botanix Orchestrators creating a decentralized network that safeguards Bitcoin on the Botanix EVM. Provides the two-way peg mechanism for bridging Bitcoin to the L2 network without wrapping.
• Bridge Bridge service enabling users to transfer Bitcoin to the Botanix network (peg-in) and withdraw back to Bitcoin mainnet (peg-out) through the Spiderchain federation. For Bitcoin holders wanting to access L2 DeFi applications.
• Yield Platform Platform enabling users to stake Bitcoin and earn real Bitcoin yield through permissionless yield generation on the Botanix network. For BTC holders seeking yield without selling their Bitcoin.
• Botanixscan Block explorer for viewing transactions, blocks, and smart contract interactions on the Botanix network. For users and developers needing transparency into on-chain activity.

Quantifiable outcome

• Network processed 25 million transactions across 200,000 wallets, yet fee revenue was insufficient to cover infrastructure costs, demonstrating failure to achieve sustainable product-market fit

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration22 records

Feature6 records

Partnerships

Four partnerships are on record, tiered core.

• LayerZerocoreTechnology or IntegrationLayerZero integration enables omnichain interoperability, allowing Botanix applications to communicate with other blockchain networks. The protocol provides the messaging layer for cross-chain interactions without requiring trusted intermediaries.
• StargatecoreTechnology or IntegrationStargate provides fully composable liquidity transport for omnichain DeFi, enabling instant movement of tokenized assets between 70+ blockchains. Built on LayerZero, Stargate provides the liquidity layer for cross-chain asset transfers with guaranteed finality on Botanix.
• Chainlink CCIPcoreTechnology or IntegrationChainlink CCIP integration provides enterprise-grade cross-chain connectivity with Level-5 security through independent decentralized oracle networks and a Risk Management Network for monitoring and anomaly detection.
• TransportercoreTechnology or IntegrationTransporter is a hyper-secure bridge app powered by Chainlink CCIP, providing intuitive cross-chain token and message transfers for Botanix users with real-time transaction visibility and 24/7 support.

Scale indicators8 records

Recent moves7 records

Expansion highlights3 records

Emerging players

• BounceBit: BounceBit is a Bitcoin Layer 1 CeDeFi chain that enables BTC restaking and yield generation across CeFi and DeFi venues. Competed with Botanix in the BTC-yield narrative and shared a similar developer-targeted audience.
• Babylon: Babylon builds Bitcoin staking and restaking infrastructure, allowing BTC holders to secure other chains and earn yield. Botanix's yield offering competed directly with Babylon's staking narrative within the broader Bitcoin DeFi ecosystem.
• Core DAO: Core DAO operates a Bitcoin-aligned, EVM-compatible Layer 1 using Satoshi Plus consensus. It positions around Bitcoin-secured DeFi and competes for the same developer and yield-seeking BTC-holder audience as Botanix.
• Dolomite: Dolomite is the lending and borrowing protocol integrated on Botanix, enabling BTC-collateralized stablecoin borrowing. While an integration partner rather than competitor, Dolomite's broader multi-chain presence makes it a comparable DeFi primitive user.

Broad incumbents

• Lightning Network: Lightning is the dominant Bitcoin Layer 2 for payments and micropayments. Botanix's Lightning integration (Pay product) sat alongside Lightning's broader payment rails, with Lightning serving as the incumbent Bitcoin scaling solution.
• Arbitrum: Arbitrum is a leading Ethereum L2 where the majority of wrapped BTC DeFi activity actually settled. Botanix explicitly competed against this category, as Bitcoin holders preferred using existing wrapped BTC (WBTC, tBTC) on Arbitrum rather than migrating to Botanix.

Direct peers

• Rootstock (RSK): Rootstock is an EVM-compatible Bitcoin sidechain that merged-mined with Bitcoin for security, enabling DeFi applications including lending and stablecoins. Directly comparable to Botanix as an earlier-mover Bitcoin L2 with EVM support and similar DeFi positioning.
• Merlin Chain: Merlin Chain is a Bitcoin Layer 2 with EVM compatibility and a focus on Bitcoin-native DeFi, including asset bridging and yield generation. Directly comparable technical positioning to Botanix with similar Bitcoin L2 value proposition.
• Liquid Network: Liquid is a Bitcoin sidechain operated by Blockstream that enables fast settlement, asset issuance, and DeFi on Bitcoin. A direct alternative for users seeking Bitcoin-native financialization, with stronger institutional backing and longer operational history.
• Stacks: Stacks is a Bitcoin Layer 2 that enables smart contracts and DeFi using Bitcoin as the base asset via Proof-of-Transfer consensus. It is the most established Bitcoin L2 directly competing with Botanix for developer mindshare and Bitcoin DeFi activity.

Market position

Strengths1 record

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/botanixlabs
• GitHubgithub.com/botanix-labs/documentation
• LinkedInlinkedin.com/company/botanix-labs

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Botanix