The native DeFi project BTCL, dedicated to unlocking the value of Bitcoin’s dormant assets, has officially announced the completion of a strategic financing round jointly backed by leading Bitcoin-focused venture firm Stillmark and prominent crypto investment institution Lemniscap. BTCL will soon launch on Tyche, the one-stop decentralized trading platform for the Bitcoin ecosystem. This cooperation not only injects professional capital and ecosystem resources into BTCL, but also marks a critical step in Bitcoin’s evolution toward the integration of “store-of-value + native DeFi.”

Targeting Bitcoin’s Structural Pain Points

As the cornerstone of the cryptocurrency market, Bitcoin commands a trillion-dollar market cap. However, its ecosystem has long suffered from a core pain point: the absence of native DeFi infrastructure. The majority of BTC assets remain passively held, lacking safe and transparent “value-accruing” pathways. Existing solutions mostly rely on cross-chain or sidechain technologies, which struggle to balance Bitcoin’s trustless native attributes with the practical needs of DeFi scenarios.

BTCL was born to address this dilemma. With the core mission of unlocking the latent value of Bitcoin’s stock assets, the project builds a “hold-to-yield” closed-loop ecosystem, filling the void of Bitcoin’s native DeFi infrastructure.

Unlike speculative rune assets or transferable cross-chain derivatives, BTCL is built on the Bitcoin mainnet’s UTXO model, establishing a native DeFi mining system. This allows BTC holders to generate continuous yields through liquidity contributions without reducing their holdings, upgrading Bitcoin from a “single store-of-value tool” into a diversified yield-generating ecosystem.

Leveraging the Tyche Ecosystem

BTCL has chosen to launch on Tyche Exchange, one of the most influential one-stop decentralized platforms in the Bitcoin ecosystem. Known as the “On-chain Binance for Bitcoin,” Tyche deeply integrates with Bitcoin’s ecosystem needs and delivers full-spectrum functionality.

Positioned as an ecosystem hub for Bitcoin and Runes assets, Tyche integrates issuance, trading, applications, and yield. Its core advantage lies in the deep compatibility of its technical architecture with the Bitcoin UTXO model — enabling programmability without relying on cross-chain solutions. All operations remain traceable on the Bitcoin mainnet, fundamentally eliminating black-box operations while ensuring both security and efficiency. Furthermore, Tyche’s mature ecosystem and compliance-driven roadmap will provide a solid foundation for BTCL’s issuance, circulation, and user adoption.

“The cooperation between BTCL and Tyche is a precise match of demand and capability,” said the Tyche platform lead. “Our mission is to provide native trading scenarios for BTCFi developers and users, and BTCL fills the long-standing gap of Bitcoin native DeFi. Together, we will accelerate the activation of Bitcoin assets.”

Top-tier Institutional Empowerment: Professional Capital Backing BTCL

BTCL is jointly supported by Stillmark and Lemniscap, receiving not only capital recognition but also multidimensional empowerment to strengthen its reliability and growth potential.

Stillmark, a pioneer in Bitcoin-focused VC, specializing in early-stage infrastructure and applications aligned with Bitcoin’s core narrative. Stillmark will open its ecosystem network to BTCL, connect developer communities and user flows, and provide compliance framework guidance based on its global regulatory experience.

Its investment lead stated: “BTCL builds DeFi capabilities directly on the Bitcoin UTXO model. This aligns perfectly with our conviction in Bitcoin-native innovation and positions BTCL as a potential benchmark for native DeFi.”

Lemniscap,as a leading early-stage crypto investment firm with over 100 portfolio projects, Lemniscap excels in token economics and liquidity strategy. It will empower BTCL through two main dimensions:

Deeply reviewing and optimizing BTCL’s tokenomics (deflationary mechanisms, mining release schedules) to ensure both incentive power and sustainability.

Leveraging its global liquidity network to support BTCL’s liquidity pool construction and trading expansion strategies, mitigating short-term volatility risks.

Vision: Driving Bitcoin into the “Native DeFi Era”

According to the BTCL core team, this launch and institutional empowerment is only the beginning. The long-term goal is to establish BTCL as a “foundational infrastructure project” for Bitcoin native DeFi. By continuously optimizing its mining and reward mechanisms, BTCL aims to attract more BTC holders into liquidity contribution, forming a virtuous cycle of “Bitcoin assets → DeFi applications → user yields.”

At the same time, BTCL will collaborate with Tyche, Stillmark, Lemniscap, and other partners to drive the standardization of Bitcoin native DeFi, creating a reference model for future ecosystem projects.

Currently, BTCL has completed its technical integration with Tyche Exchange. Details on issuance schedules and participation rules will be announced soon via official channels. The market expects BTCL to emerge as a “new engine” for activating Bitcoin’s liquidity ecosystem.

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Warsaw, Poland – Warsaw became the stage for a historic milestone for CHERY. On October 6, during a celebratory event, the brand officially handed over its five-millionth export vehicle to a Polish customer. The occasion also marked the local debut of two key models: the TIGGO 4 HEV and the TIGGO 9 PHEV.

A Historic Milestone for the Brand

The highlight of the event was the symbolic handover of CHERY’s five-millionth export vehicle. The milestone car was the flagship TIGGO 8 PHEV, representing the brand’s intelligent mobility philosophy and combining advanced technology with comfort. This achievement underscores CHERY’s global reach and dynamic growth, with Poland playing an increasingly significant role in the brand’s expansion.

Chery has delivered its 5–millionth export vehicle

The Legacy of the TIGGO Family

At the premiere, Jeff Zhang, Vice President of CHERY International and CEO for the EU Region, highlighted the pivotal role of the TIGGO lineup. Launched in 2005, TIGGO has been a cornerstone of CHERY’s global strategy, progressively entering new markets until its presence spanned over 120 countries by 2025. This complete, standardized SUV portfolio has laid a solid foundation for the brand’s enduring success.

“These milestones underscore that our success is measured not just by sales, but by the reliability we deliver and the lasting trust we build with our users,” Jeff added.

From Exporter to Technology Leader

CHERY’s journey began with the export of Fulwin sedans in 2001 and has since evolved into the position of a global player driven by technological leadership. Today, the company operates 19 overseas assembly plants, enabling agile responses to local market needs. For 22 consecutive years, CHERY has remained China’s largest passenger car exporter. In the first three quarters of 2025, CHERY Group sold 2,007,768 vehicles globally, marking a year-on-year increase of 14.5%. The company exported 936,428 units during this period, a 12.9% growth, which translates to one “Made-by-CHERY” vehicle shipped overseas every 25 seconds. This performance not only solidified CHERY’s position as China’s top automotive exporter but also underscored its strategic expansion into more premium international markets. A key driver of this growth was Europe, where CHERY accelerated its market presence and saw sales surge over two-fold to 145,000 units from January to September.

Ceremony for the delivery of Chery’s 5-millionth export vehicle and the global launch of the all-new TIGGO series held in Poland

New Models for the Polish Market

The Warsaw event also marked the introduction of two new models to Poland. The TIGGO 4 HEV is CHERY’s first hybrid in the country and one of the most competitive B-segment SUVs. It features the advanced CHERY Super Hybrid system, low fuel consumption, a range of up to 950 km, and a rich package of safety and connectivity technologies. The TIGGO 4 HEV will be available in two trim levels: the Essential, starting at PLN 95,900, and the Prestige, priced at PLN 105,900.

Meanwhile, the TIGGO 9 PHEV is CHERY’s flagship seven-seat D-segment plug-in hybrid SUV. Delivering 428 KM, a spacious and luxurious interior, and an electric range exceeding 147 km, the model sets a new benchmark for comfort and performance. The TIGGO 9 PHEV will be available in one trim level priced at PLN 209,900.

Both models will be available across CHERY’s nationwide dealer network by the end of this year, marking a new chapter for the brand in Poland.

Chery’s global flagship SUV: TIGGO9 CSH

Poland on the Map of Global Expansion

The debut of these models and the handover of the five-millionth vehicle to a Polish customer highlight Poland’s growing importance as a strategic market for CHERY in Europe. The brand plans further expansion of its sales network and closer engagement with customers, focusing on an attractive product offering, innovative technologies, and premium service standards. This marks the beginning of a new chapter, giving Polish drivers a direct role in CHERY’s global success story.

Chery has achieved remarkable breakthroughs in multiple highly regulated markets, including Europe, Latin America, and the Middle East, delivering high-quality vehicles to more than 17 million users worldwide. From October 17 to 21, Chery will once again welcome its global community to its hometown of Wuhu, China, for the 2025 Chery Brand User Summit. Under the theme “Co-Create the New Move,” the event will bring together users and partners from across the globe to experience—both in motion and at rest—the powerful performance and safety technologies of Chery Super Hybrid (CSH). Through interactive sessions, attendees will explore Chery’s all-new “People + Vehicle + Home” intelligent ecosystem, marking a new chapter in Chery’s journey into the era of intelligent mobility.

2025 Chery Brand User Summit Set to Kick Off

About CHERY
Founded in 1997, CHERY is a leading Chinese automobile manufacturer and has been China’s largest exporter of passenger vehicles for 22 consecutive years. Today, CHERY has over 16 million users worldwide and operates in more than 110 countries and regions.

In 2024, CHERY’s total sales reached 2,603,916 units, representing a 38.4% year-on-year increase, while exports totaled 1,144,588 units, up 21.4% year-on-year. The company’s annual revenue climbed to 283 billion PLN, marking a 50% year-on-year growth, earning CHERY a spot on the Global Fortune 500 list.

CHERY is the first Chinese automaker to have fully mastered key technologies in engines, transmissions, and chassis. The company has filed over 29,000 patents, of which more than 18,000 have been granted.