# Citrea (Chainway Labs)

Canonical page: https://technooptimist.io/companies/citrea
Citrea, built by Chainway Labs, is a zero-knowledge rollup that settles on Bitcoin: it runs Ethereum-style apps on its own chain and posts proofs and data to Bitcoin. Its Clementine bridge uses BitVM so that one honest participant can stop theft.

## In brief

- Mainnet launched Jan 27, 2026, with Clementine, a bridge built on BitVM.
- Raised a $14M Series A led by Founders Fund (Oct 2024), its first Bitcoin investment.
- Small so far: ~$12M in DeFi deposits and ctUSD at ~$24M (May–June 2026).

## Facts

- Headquarters: KY
- Status: private
- Raised: $14M
- Website: https://citrea.xyz
- Frontiers: [Crypto](https://technooptimist.io/crypto.md) (Bitcoin & mining)

## Programs

- [Citrea rollup and Clementine bridge](https://technooptimist.io/crypto/citrea-mainnet.md) (Crypto): Deploy; next: Decentralised sequencer network. Mainnet since Jan 27, 2026; ~$12M in DeFi deposits (Jun 2026); one sequencer, BitVM bridge live.

## Technical approach

- **Rollup: Ethereum-compatible chain on Bitcoin**: Apps run on an EVM-equivalent chain with 2-second blocks; batches are proven with zero-knowledge proofs and anchored to Bitcoin.
- **BitVM: Disputes instead of verification**: Bitcoin cannot check a proof directly, so Clementine lets anyone challenge a false claim step by step on Bitcoin, with the cheater's bond slashed.
- **Light client: Proving which chain is real**: Operators must show with a SNARK that their Bitcoin chain has the most work and contains the payout, defeating fake forks.

## Open problems

- **One sequencer orders all transactions** (open): Citrea runs a single sequencer today; a decentralised set is only being explored.
- **Permissioned watchtowers and signers** (open): Bridge safety assumes at least one honest watchtower in a permissioned set; opening these roles is future work.

## Latest updates

- **4 Jun 2026**: Four months in, Citrea holds about $12M in DeFi deposits as its CTR token starts trading. A FalconX market note put Citrea's DeFi deposits at about $12M, described by Citrea as organic and pre-incentive, with ctUSD at about $24M. ([our story](https://technooptimist.io/stories/four-months-in-citrea-holds-about-12m-in-defi-deposits-as-its-ctr-token-63bcffd3.md) · [original source](https://www.falconx.io/newsroom/citrea-ctr-the-bitcoin-zk-rollup))
- **27 Jan 2026**: Citrea launches mainnet with the Clementine BitVM bridge and a MoonPay-issued stablecoin, ctUSD. Citrea went live as a rollup that runs transactions off Bitcoin and uses Bitcoin for settlement. ([our story](https://technooptimist.io/stories/citrea-launches-mainnet-with-the-clementine-bitvm-bridge-and-a-moonpay-a2cc4d1e.md) · [original source](https://forklog.com/en/bitcoin-based-zk-rollup-citrea-launches-mainnet/))
- **31 Oct 2024**: Citrea raises $14M Series A led by Founders Fund to build a ZK rollup for Bitcoin. Chainway Labs, which builds Citrea, raised $14M in a round led by Founders Fund, with angels including Erik Voorhees, Balaji Srinivasan and Jameson Lopp, plus Maven11. ([our story](https://technooptimist.io/stories/citrea-raises-14m-series-a-led-by-founders-fund-to-build-a-zk-rollup-1142fbd6.md) · [original source](https://www.prnewswire.com/es/comunicados-de-prensa/citrea-recauda-14-millones-de-dolares-para-expandir-bitcoin-mas-alla-del-oro-digital-302293116.html))

## Funding

| Date | Round | Amount | Post-money | Leads |
| --- | --- | --- | --- | --- |
| 31 Oct 2024 | Series A | $14M |   | Founders Fund |

## Partners, customers and investors

- Founders Fund (investor): Led the $14M Series A; partner Joey Krug called it the firm's first Bitcoin-ecosystem bet.
- MoonPay (partner): Issues ctUSD, Citrea's dollar stablecoin, on M0 infrastructure.
- Morpho (partner): Lending markets live on Citrea at mainnet launch.

## People

- Orkun Kilic, Co-founder and CEO, Chainway Labs

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