Portal to Bitcoin Announces Three Major Integrations With Bitlayer, Sovryn, and Tari Ahead of Upcoming Testnet Launch
29 Julio 2024 - 3:21PM
Portal to Bitcoin, the groundbreaking platform dedicated to
unlocking Bitcoin liquidity through the only truly trustless
solution, proudly announces major strategic integrations with
Bitlayer, Sovryn, and Tari as additional core components of its
impending testnet launch.
“We are thrilled to announce the launch of our
incentivized testnet and our union with these three outstanding
partners, a significant step in our mission to unlock the full
potential of Bitcoin liquidity,” said Chandra Duggirala, CEO of
Tides Network and Core Contributor of Portal to Bitcoin. “Our
commitment to providing a trustless solution is at the heart of
everything we do, and our use of the Lightning Network and atomic
swaps is a testament to this. This testnet is a crucial phase in
our development, allowing us to fine-tune our platform while
engaging with our community and rewarding their participation. We
believe that Portal to Bitcoin will transform the way users
interact with their Bitcoin, providing a secure, efficient, and
user-friendly experience.”
Bitlayer is a Bitcoin sidechain/L2 solution that
enhances scalability and privacy for blockchain transactions. By
integrating Bitlayer, Portal to Bitcoin will be able to offer even
faster transaction speeds and improved privacy features. Bitlayer's
BitVM-based technology allows for more efficient processing of
transactions, reducing the load on the main Bitcoin blockchain and
ensuring that users can enjoy a seamless experience.
“We’re thrilled to integrate with Portal to
Bitcoin to bring top-level BTC-FI solutions to market,” said
Charlie Hu, Bitlayer co-founder. “Killer applications like Portal
will revolutionize the Bitcoin ecosystem, bringing highly sought
after financial instruments to the most decentralized, most
renowned, and most capital-injected blockchain in the world.”
This integration means that users will benefit
from the combined strengths of the Portal Network and Bitlayer,
providing a robust and efficient transaction environment. Enhanced
privacy features will also ensure that user transactions remain
confidential, further bolstering the security of our platform.
Sovryn is the leading Bitcoin Defi project to
integrate the Sovryn Dollar (DLLR), an aggregated, BTC-backed
stablecoin. The integration of DLLR into the Portal DEX will make
it one-click tradable with native BTC using atomic swaps, with no
bridges, wrappers or custodians. Sovryn users will also be able to
trade against native Runes, Ordinals and other L1 and L2 assets,
without the risk of pseudo-custodial solutions. Portal and Sovryn
aim this partnership to boost the growth of their respective
communities. The Sovryn team shared, "We're excited Sovryn users
will also be able to trade against native Runes, Ordinals and other
L1 and L2 assets, without the risk of pseudo-custodial solutions.
Portal and Sovryn aim for this partnership to boost the growth of
their respective communities.”
Tari is an L1 focused on digital assets and the
creation and management of digital assets such as tickets, loyalty
points, and in-game items. The integration of Tari with Portal to
Bitcoin opens up new possibilities for the tokenization and
exchange of digital assets. Users will be able to trade these
assets seamlessly, using Bitcoin as the settlement layer.
The Tari Team shared, “Tari teaming up with Portal
to Bitcoin is like peanut butter and jelly, but for crypto. This
dynamic duo is opening up new possibilities for tokenizing and
exchanging digital assets, making Portal to Bitcoin the ultimate
bridge between Bitcoin, Ethereum, and yep, Tari! Get ready, because
this smooth way to move value between chains is bringing the future
right to us!”
This integration not only expands the utility of
Bitcoin within our platform but also bridges the gap between
traditional digital assets and the world of cryptocurrencies. By
leveraging Tari's protocol, we can offer users a broader range of
functionalities and use cases, making Portal to Bitcoin a versatile
and comprehensive DeFi solution.
Portal to Bitcoin stands at the vanguard of DeFi
innovation, offering users a revolutionary way to access Bitcoin
liquidity without relying on centralized intermediaries or
custodians. The platform achieves this through a unique integration
of the Lightning Network and atomic swaps, ensuring complete
security and decentralization. This combination of technologies
allows users to conduct transactions and exchanges in a fully
trustless environment, maintaining complete control over their
assets. The result is a revolutionary approach to unlocking bitcoin
liquidity, and is the only fully trustless solution in the
marketplace.
At the core of Portal to Bitcoin’s capabilities is
the Lightning Network, a second-layer protocol designed to enable
instant, low-cost Bitcoin transactions. By utilizing the Lightning
Network, Portal to Bitcoin significantly enhances the speed and
efficiency of Bitcoin transfers, allowing users to move their
assets swiftly and with minimal transaction fees. This is
especially beneficial for traders and users who require quick
access to their funds.
In addition to the Lightning Network, Portal to
Bitcoin employs atomic swaps to facilitate direct peer-to-peer
exchanges between Bitcoin and other cryptocurrencies. Atomic swaps
are smart contract-based transactions that allow users to exchange
one cryptocurrency for another without the need for a trusted third
party. This eliminates counterparty risk and enhances the security
of the exchange process. Users can trade directly from their
wallets, ensuring that they remain in control of their assets
throughout the transaction.
About Portal to BitcoinPortal to Bitcoin,
formerly known as Portal DeFi, conceived by a team of veteran
Bitcoin and AI engineers, is dedicated to empowering financial
self-sovereignty. Portal is the only custody-less interoperability
protocol for Bitcoin. Portal enables fast, low cost atomic swaps
between native Bitcoin assets like BTC, Ordinals, and Runes, to L2s
and other L1s. With Portal's technical breakthroughs, there is no
bridging or wrapping. User funds are always safe. Portal is backed
by Coinbase Ventures, OKX Ventures, Gate.io, Arrington Capital, and
many other prominent investors. For more information,
visit https://portaltobitcoin.com, X
(Twitter), Discord, Medium and Telegram.
Contact:Jon Lindsay
Phillips7049421557PortalToBitcoin@phillcomm.global