Torram has opened an awesome dApp competition! They’re making 3 million tokens available to developers who can build institutional-grade DeFi applications natively on Bitcoin. The goal of the initiative is to spur more innovation on Bitcoin L1 by equipping developers with better resources and infrastructure. Torram's network allows developers to deploy on Bitcoin with block times as fast as 60 seconds without bridges or L2s.
The challenge is to develop native stablecoins, DEXs, and RWA platforms on Bitcoin L1. Torram’s testnet V2.0 is live, unlocking programmability and a new token standard natively on Bitcoin. This makes possible the development of truly decentralized DeFi apps on Bitcoin L1.
Today over 20 dApps have joined the Torram ecosystem, including Ordinal Hive, bitSmiley, and Sundial. Moreover, as of the time of writing, Torram has 30+ validators live on its testnet, including BitGo, Allnodes, Stakely, Validation Cloud, and Republic.
The first 10 dApps deployed to Torram will receive 200,000 tokens. Additionally, the three developers—ranked by usage—have a chance to win 1 million tokens, respectively. We hope you’ll join us for the 90-Day Testnet Marathon! The main competition starts on August 1 and goes through October 31, but first we have a super cool 30-Day Testnet Sprint from July 1 through July 30.
"Torram gives builders not just tools, but a foundation: smart contracts, oracles, and a programmable token standard. We’re creating the layer devs need to launch scalable DeFi applications," - Vakeesan Mahalingam, CFA, Co-Founder & CEO
Torram delivers a fully programmable Bitcoin native asset standard, smart contracts, oracles and a fully programmable token standard. This is paving the way for developers to create advanced DeFi applications entirely on bitcoin.
"Torram network cures Bitcoin's limitations and amplifies its strength. Our BUIDL thesis has been - do what's possible on Bitcoin, and leave the rest to Torram. Now, you can witness that with Torram network V2.0," - Lee Raj, Co-Founder & CTO
Torram is complemented by support from an impressive list of investors. These consist of Draper Associates, Blockchain Founders Fund, Side Door Ventures, Deep Ventures, Boost VC, Trive Digital, Silvermine, MH Ventures and Bitcoin Ai Startup Lab. The company’s Co-Founder & CEO is Vakeesan Mahalingam, CFA, and its Co-Founder & CTO is Lee Raj.
Token rewards need to have specific eligibility criteria. They are required to be in operating within program parameters and pass a technical assessment before receiving final certification approval from Torram Labs.
