Botanix Labs gears up for mainnet with plans to help people use their bitcoin

Welcome back to Talking Tokens.

We’re building the best place for quick crypto insights, news and in-depth interviews with the best leaders, startups, market players and up-and-coming founders that are changing the industry.

If you haven’t already, subscribe here.

Today's newsletter is sponsored by Gravity, the layer-1 blockchain created by Galxe for mass adoption and an omnichain future. Galxe’s onchain distribution platform is integrated across 34+ chains, has 21 million users and 100 million monthly transactions. 

To make the user experience as enjoyable as possible, Galxe created Gravity to simplify cross-chain transactions, enhance privacy via ZK proofs, offer rapid transactions, and deliver a user-friendly experience while integrating seamlessly with Galxe’s core products.

For developers, Gravity opens the door to building on the largest onchain distribution platform effortlessly. For users, it promises a smoother, more secure journey through web3. It's not just about being onchain; it’s about being on the right chain every single time.

Ready to elevate your web3 journey? Discover how Galxe and Gravity can propel you forward by clicking here.

Believe it or not: people want to use their bitcoin

There’s been a lot of discussions across the digital asset space about whether or not people actually want to use their crypto, opposed to just holding it as (hopefully) a store of value.

Alicia Painter, Botanix’s cofounder and COO, is of the camp that “people actually want to use their bitcoin and do interesting things with it,” she shared on the Talking Tokens podcast.

Botanix launched its own Ethereum Virtual Machine-equivalent layer-2 blockchain on top of Bitcoin last year. It is building Spiderchain, a decentralized network that allows others to participate in its ecosystem.

Its Spiderchain has about 60 teams building on it ahead of its mainnet, which is planned for this Fall, Painter said. Spiderchain has a goal of “being more decentralized than Ethereum itself.”

“For us that shows the massive appetite there is for something like this,” Painter said. “It’s a pretty insane amount of users and is testament to people wanting to use their bitcoin and do interesting things with it.”

One of the narratives Painter is really excited for in crypto more generally is to make it “usable,” she said. “We’re done with chains, new protocols, we now just need to actually have it used by the rest of the world.”

Painter sees a lot of opportunity in emerging markets due to its unique positioning of not being “burdened by legacy technologies or behaviors.”

This is why mobile payments are thriving in these economies, she added. “That’s why I’m excited about the usability of bitcoin coming.”

Regardless if it’s with bitcoin, or another cryptocurrency, having people transact onchain is a net-positive for the industry, Painter said.

“At the end of the day it brings us closer to crypto’s eventual goal, I would say, of greater financial freedom and democratization of money and our data,” Painter added. “I have a preference for bitcoin, but I think there should be products for all preferences.”

Check out the next section for more details and the full episode.

The latest Talking Tokens podcast 🎙️

For this week’s Thursday episode, I spoke with Alisia Painter, Botanix Labs co-founder and COO. 

Jacquelyn and Alisia talk about building on Bitcoin and the type of users its bringing in, the evolution of DeFi and other sectors on the network, how Bitcoin L2s differ from other blockchains and more.

Talking Tokens episodes are released on Spotify and Apple Podcasts at 6AM EST or YouTube at 10AM EST every Tuesday and Thursday. Listen in!

Make sure to subscribe to keep up with the latest episodes. Feel free to leave a review and tell us your thoughts.

Monitoring blockchains

Looking at some of the biggest developments onchain.

• Polygon’s native token upgrade from MATIC to POL is now live

• Offchain Labs launches Stylus, opening the door for developers in-and-out of web3 through Arbtrium

• Euler returns to launch v2 modular DeFi lending protocol following 31 audits post-$197 million hack (via The Block)

Taking on the tokens 

The total crypto market cap increased less than 1% in the past 24-hours to $2.03 trillion. It is down 2.4% over a 7-day period.

As for the largest cryptocurrencies by market cap…

These metrics were taken prior to publication on Thursday morning EST.

Other numbers we’re eyeing…

• $175K - that’s how much Uniswap is going to pay for its settlement with the CFTC

Money and people moves

Latest updates on crypto startups that secured funding and industry players who are starting something new.

1. Binance Hires UK-Based Accounting Firm Grant Thornton to Advise on Audits (CoinDesk)

2. Hypernative raises $16M Series A to alleviate web3 hacks

3. ZKsync's Matter labs laid off about 16% of team

Talking points for the road 

Here’s some headlines and topics that you can talk about at your next dinner party, crypto event or on a first date to look smart (results may vary.) 

1. Trump Family Crypto Project Vows to ‘Ensure Dollar’s Dominance’ (Bloomberg)

2. QCP Capital analysts forecast surge in near-term crypto market volatility (The Block)

3. DeFi traders bag $5.4m betting on new Ethereum exchange that claims to thwart ‘rug pullers’ (DL News)

Get involved and share the newsletter. The more you share, the higher your ranking.

• Refer 25 people and get my customized media guide.

• Refer 50 people for a chance at a 1:1 meeting with me to dive into best practices when engaging with the media.

Was this email forwarded to you? Subscribe here.

If you do (or don’t) like what you see, let me know by sending feedback to [email protected].

This product was built by Token Relations. 

Please note that this content is for informational and entertainment purposes only. Any views shared should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research. We may have a direct or indirect financial interest in content mentioned in this newsletter.