Coffer Network

Coffer Network is a decentralized smart account custody solution for Bitcoin L1 and L2, founded in 2024 by Peng Liu. Liu, who previously held a senior role at COBO/Bit-Z, utilized his experience in the Bitcoin ecosystem to develop the platform. The company provides a decentralized programmable smart account infrastructure for Bitcoin, which uses native multi-signature scripts to improve security and functionality.

The core of Coffer Network's business is offering non-custodial smart accounts that allow Bitcoin holders to manage their assets, generate yields, and engage in cross-chain farming opportunities without giving up control of their assets. The platform's product, CoBTC, is an ERC-20 compliant, non-custodial Bitcoin product designed for DeFi, which allows users to access leveraged yields while keeping their Bitcoin in their own wallets. This is achieved through Coffer Network's multi-signature API, which secures the assets in on-chain vaults.

Coffer Network operates as a bridge protocol on the Bitcoin network. In November 2024, the company gained significant recognition by winning the championship at the Shark Tank event in Bangkok, Thailand, an event aimed at fostering innovation in the Bitcoin ecosystem. The project has received support from investors such as Draper Dragon, Draper Associates, and BOOST VC.

Keywords: Bitcoin smart accounts, decentralized custody, Bitcoin L1, Bitcoin L2, non-custodial wallet, DeFi, cross-chain farming, leveraged yields, multi-signature scripts, Peng Liu, CoBTC, Bitcoin bridge protocol, crypto asset management, UTXO Management