Midl has secured a $2.4 million seed round investment from Draper Associates and Draper Dragon to advance Bitcoin-native dApp infrastructure development.

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Midl Receives $2.4M Investment from Draper, Native Bitcoin Smart Contract Infrastructure Achieves Key Breakthrough, Launching BTCFi New Era

Midl, an infrastructure project dedicated to bringing smart contracts to the Bitcoin network and supporting native decentralized applications (dApps) and financial products, has announced the completion of a $2.4 million seed round funding.

This funding round was led by Draper Associates, an early-stage venture capital firm founded by Tim Draper, which has previously invested in industry-leading companies such as Coinbase, Robinhood, and Ledger. Additionally, the cross-border blockchain innovation fund Draper Dragon also participated in the investment, having previously supported notable projects like Kelp DAO and Ether.Fi.

This funding milestone signifies another significant stage in the development of the Bitcoin financial ecosystem and highlights institutional interest in BTCFi. BTCFi represents a new wave of Bitcoin-native decentralized finance. Through Midl, developers can now directly build and run dApps on the Bitcoin network, unlocking the $2 trillion liquidity potential of the Bitcoin network.

Midl co-founder Iva Wisher stated: "It is a rare opportunity to be early involved in such an important space. Midl has taken Bitcoin programmability to unprecedented levels. The native Bitcoin Token standard finally has a home to support real applications and economies, including transactions, DeFi, gaming, governance, and more."

Unlocking Bitcoin's Potential

Unlike solutions relying on sidechains, bridging, or Layer 2, Midl has introduced a native execution environment for Bitcoin, enabling decentralized applications to run directly on the Bitcoin network.

This environment includes seamless support for the Bitcoin-native Token standard, allowing it to be traded, used in functionalities, and applied in various products and services from day one.

Currently, Midl is in the testnet phase, with the mainnet expected to launch shortly. Multiple early DeFi protocols are already running on the testnet, with over 20 projects at various deployment stages on the network.

In addition to technical deployments, Midl has also introduced a series of plans aimed at retail users to help achieve practical usage and liquidity for the Bitcoin ecosystem from day one. These initiatives are designed to drive early adoption and inject liquidity into the Bitcoin ecosystem before the mainnet launch.

Led by Veterans in Early-Tech Investment

Draper Associates was founded in 1985 by Tim Draper. This venture capital firm is known for its visionary investment philosophy and has funded many transformative technology companies across various industries. Draper Associates has a strong portfolio in the crypto and blockchain space, having supported early leaders such as Coinbase, Ledger, and Robinhood.

Draper Dragon is a cross-border venture capital firm focusing on early-stage Web3 and tech startups. The company invests in innovative blockchain projects that shape the future of decentralized finance and digital ecosystems, with its portfolio including well-known projects like Kelp DAO and Ether.Fi.

About Midl

Midl is an execution environment that brings smart contracts to Bitcoin, opening the door to a new generation of decentralized applications built natively on the world's most secure blockchain and providing dedicated developer tools.

Through Midl, a full-scale dApp can run directly on the Bitcoin network: everything that was once achievable on Ethereum can now be built on Bitcoin. The protocol improves developer and user experience by allowing multiple EVM-like interactions in a single Bitcoin transaction, enhancing scalability and throughput.

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