The Botanix network secures its Layer 2 protocol using a system called Spiderchain, which employs BTC-staked Orchestrator nodes selected from Bitcoin block hashes to manage peg-ins and peg-outs via rotating multisig wallets.

Quotes that support claims

Botanix relies on a novel security model called Spiderchain. This design uses BTC-staked Orchestrator nodes, selected via randomness sourced from Bitcoin block hashes, to manage a rotating multisig peg-in/peg-out system. State transitions are also anchored back to Bitcoin itself.

It is sometimes referred to as a ‘spiderchain’ due to its ‘web’ of multisig wallets that are created at every Bitcoin block as part of its security and programmability model.