B² Network (BSquared)
Bitcoin L2 with EVM compatibility, ZK proof rollup combined with optimistic challenge mechanism. Deployed 2024. Mainnet is still live as of September 2026, but DeFi TVL is down ~97% from its December 2024 peak — see Position below.
Architecture
- EVM execution (Solidity contracts).
- ZK proofs for state validity.
- Optimistic challenges as backup verification.
- Bridge: federation + planned BitVM upgrade.
- Native token: B²BTC (peg-style) + B² (governance/utility).
Use cases
- DeFi: yield protocols, lending, AMMs.
- Bitcoin staking-like products: bridged BTC earns yield in B² ecosystem.
- NFTs / Asset issuance.
Position
One of multiple "Bitcoin L2" projects competing for TVL in 2024-2025, and still smaller than Stacks, Rootstock and Merlin — but the absolute scale has changed by orders of magnitude since then. Chain DeFi TVL, DefiLlama, 16 September 2026:
| Chain | DeFi TVL |
|---|---|
| BSquared | ~$2.6M |
| Merlin | ~$8.9M |
| Stacks | ~$77.7M |
| Rootstock | ~$79.2M |
BSquared peaked at ~$103.3M on 7 December 2024 and was ~$89.1M on 1 January 2025, so this is a ~97% drawdown from peak. The contraction is sector-wide rather than BSquared-specific — between 1 January 2025 and 16 September 2026 Bitlayer went ~$361M -> ~$0.46M and Merlin ~$169M -> ~$8.9M. Treat every figure here as a dated snapshot, not a fact: re-check https://defillama.com/chain/BSquared before quoting.
Limitations
- Federation trust for current bridge.
- EVM compatibility but smaller dApp ecosystem.
- Unclear path to fully trustless bridging.