Gomining forms foundation to support Bitcoin L1 and L2 projects

Gomining has launched the GoBTC Foundation, focused on advancing Bitcoin’s (CRYPTO:BTC) onchain ecosystem by increasing activity on both its Layer 1 (L1) and Layer 2 (L2) networks.

The foundation aims to enhance transaction volumes, supporting Bitcoin miners whose earnings are impacted by periodic halvings.

The GoBTC Foundation collaborates with mining companies, investors, and Bitcoin advocates to promote Bitcoin-related projects.

It offers two key programs: a Launchpad for Initial Token Offerings (IDOs) and an Accelerator that provides a 12-week mentorship program for startups.

Gadzhi Alievskey, the head of the foundation, highlighted the enthusiasm within the Bitcoin community for building new projects.

"We see strong enthusiasm for building in the Bitcoin community," Alievskey stated, citing innovations like BIP420 as bringing renewed energy to the blockchain.

He also emphasised the role of decentralised applications (dapps) in driving onchain growth, noting that increased transaction volume strengthens the Bitcoin ecosystem.

The foundation’s Launchpad aims to connect projects with a user base of over two million, while the Accelerator provides mentorship and potential investment from Gomining and associated venture capitalists.

Since its launch, the foundation has received over 40 applications from startups looking to develop on the Bitcoin network.

Gomining remains open to new projects, with the goal of further boosting transaction volumes and expanding Bitcoin’s infrastructure.

At the time of reporting, the Bitcoin price was $61,723.81.