🔸 Bitcoin Infrastructure @ ArchNtwrk announced today the completion of a $13 million Series A funding round. 🔸 What is Arch Network? How to introduce smart contracts into the Bitcoin mainnet? 🔸 Can they still participate in their motivational activities now? What are the specific reward rules? 👇 💰 Financing situation Arch Network has completed two rounds of financing, raising a total of $20 million. Led by Pantera Capital and Multicoin Capital, with participation from well-known venture capitalists such as OKX and Big Brain Holdings. 🪙 What is Arch Network? The asset value of Bitcoin exceeds $2 trillion, but its role is still limited to value storage. If users want to use BTC for more complex on chain activities, they can only bridge BTC to the Layer2 chain - and there are risks involved here. What Arch wants to do is to unlock the programmability of the native Bitcoin network and directly introduce smart contract functionality into the Bitcoin Layer1 layer. Then, developers can build the Defi protocol, lending market AMM、 Stablecoins and other protocols. To achieve this, Arch needs to build infrastructure on the Bitcoin Base Layer and address the three major pain points of the Bitcoin network. ❓ Problem 1: Poor programmability Reason: Bitcoin's Scirip language is too primitive to execute complex logic. Solution: They developed Arch VM, which can write complex programs in Rust language (Solana's programming language) and directly manipulate Bitcoin assets (such as BTC, Runes, Ordinals) ❓ Problem 2: Bitcoin is too slow Reason: 10 minutes per block, poor user experience. Solution: Arch has built a real-time indexing system that can track the UTXO of Bitcoin and provide "pre confirmation" of its status - executing logic before Bitcoin blocks out. If there is no confirmation on the Bitcoin chain in the future, undo the status change related to this transaction. And the entire Bitcoin network is not affected and does not need to be rolled back. ❓ Question 3: Dapp contracts have no direct collaboration Reason: Dapps on Ethereum can call each other, but native Bitcoin networks cannot. Solution: Arch uses an account model where the state of each Dapp can be managed separately, enabling cross contract invocation. This can enable mutual calling between Dapps, such as A contract calling the functions in B contract. 🧵 Arch Incentive Activity Details Arch is in the testing phase, and they launched a points program at the end of the 24th, which is a visible incentive activity. This incentive activity will continue until the mainnet, and it is expected to be launched on the mainnet in the summer of 2025. The mainnet tasks will be more valuable than the test network. There are two types of task rewards: XP and ORE. ORE is a rare point that is mainly obtained through participating in on chain activities on the testing/mainnet. The function of XP is a point multiplier, which can be obtained by completing social tasks off chain. According to Arch's explanation, the total score of the entire incentive activity is equal to (XP level) x (ORE quantity). Therefore, whether it is off chain social tasks or on chain activities on the testing/main network, they will greatly affect the final score. In addition, it is worth mentioning that users who obtain the Engineer level (Lv4) will have the opportunity to participate in the pre TGE Genesis Auction event. ▪️ Prepare wallets that support BTC, such as Unisat, OKX, Xverse, etc. ▪️ Go to Arch's XP Task Panel: https://dashboard.arch.network/dashboard ▪️ If the wallet has rune assets, it can automatically unlock badges and earn additional XP points. ▪️ At present, only a series of social tasks can be completed, and there will be on chain tasks on the main network in the future.