Nikolas Sargeant
The company aims to utilize the funding to propel Arch’s development of decentralized finance (DeFi) applications directly on the Bitcoin blockchain, bypassing secondary layers or bridges. These layers often complicate user experiences and compromise security. According to Arch co-founder and CEO Matt Mudano, the introduction of Ordinals marked a significant shift in Bitcoin's trajectory, allowing it to transcend its role as a mere payment ledger.
This milestone paved the way for Arch, leveraging Bitcoin's unparalleled security and liquidity to establish a novel application ecosystem. The raised capital primarily targets expanding Arch's development team, speeding up the creation and enhancement of decentralized applications.
Under "Arch’s Features and Rollout Plan," Arch features a parallelized, proof-of-stake model with a Rust-based zkVM (ArchVM) and a decentralized verifier network, ensuring a trustless execution environment within the blockchain. Multicoin Capital Investment Principal Vishal Kankani highlighted that Arch diverges from traditional Layer 2 solutions, which often compromise security for speed, as users do not need to bridge assets to an untrusted chain.
In addition to team expansion, Arch Labs plans to launch a public development network (devnet) followed by a mainnet release in the latter half of the year. This strategic progression enables early adopters and future users to explore platform capabilities, enhancing stability and functionality before a comprehensive public rollout.
