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Bitlayer, a bitcoin layer 2 based on the Batvm and Sui Blockchain paradigm, and the Bitcoins (BTC) are more useful in the sui ecosystem.
Cooperation includes SUI integration Bitlayer’s BITM BRIDGE To start the Peg-BTC (YBTC), a token supported by Bitcoin, on its platform, according to the exclusive announcement shared with Coindesk.
It allows the Bitcoin holders to transfer their BTC to Sui across the Bitvm Bridge. Bridged Version, PEG-BTC, can then be used within the SUi ecosystem to obtain additional revenues.
“Bitcoin’s Dominance AS and Store of Value Is Unmatched, But Its Utility in Defi Remains Untapped. By Integrating Bitcoin’s Liquidity to Sui’s Ecosystem, PEG-BTC (YBTC) EMPOWERS USERS TO Earn yield Paradigm Shift for Btcfi, ”Charlie Hu, Co-Founder of Bitlayer, Said in A Press Release Shared Exclusively with Coindesk.
Bitcoinfi or allowing BTC users to earn additional revenues through Defi, was one of the hottest topics at the Token2049 conference in Dubai. Franklin Templeton has supported the idea The event says that this will strengthen the attraction of BTC outside the long -term value trade.
Bitlayer is an equivalent layer of 2 bitcoin security 2 based on the Batvm paradigm to bring intelligent contractual abilities to Bitcoins without affecting its basic consensus. It relies on the calculation of the off-line and evidence of fraud on the chain to keep the network safe and decentralized.
Bitlayer Bitvm-Bitted ZK Bridge is a special tool that makes it easier to move the safe and safe movement of BTC on various blockchain ecosystems without relying on centralized intermediaries or intermediaries. It is trustworthy, which means it is designed to be very safe and decentralized.
SUI is a layer of 1 blockchain aimed at offering high -speed and cheap transactions through parallel processing. It defines 49 projects since writing its ecosystem and boasts more than $ 2 billion in crypto on the defillama data source.
The integration of PEG-BTC (YBTC) into the sui ecosystem opens several new opportunities for users such as PEG-BTC betting to gain interest through various bitcoin download protocols. Users can also borrow or borrow a Peg-BTC by borrowing to earn or use them as a loan collateral. In addition, PEG-BTC can be traded on popular decentralized exchanges within SUI, allowing users to replace and provide liquidity to obtain business fees.
HU said they were planning to work with the best SUI protocols, with the greatest traction in terms of the overall value locked, fully diluted value and user base in the sui ecosystem.
Adeniya Abiodun, co -founder and CPO at Mysten Labs, SUI, said they approach the holistic approach and at the same time ensure growing demand for Bitcoinfi.
“SUI occupies a holistic approach by the fact that on board on board the entire pile of infrastructure and the possibilities of BTCFI assets into the ecosystem, including betting, renewal, bridge integration, WBTC, SBTC and soon Peg-BTC (YBTC).
“Key integration, such as Bitvm Bridge with Bitlayer, transforms an experience for Bitcoins holders by allowing them to earn, get involved in the defi and give their assets to work on Sui,” Abiodun added.
To date, BTC assets include more than 10% of the total TVL locked in the SUI ecosystem, with more than 587 BTC to Defi from February. “With supporting BTCFI integration, it activates advanced programability of Sui Bitcoins, allowing users to move and secure a high -performance chain,” Abiodun said.
