• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
BendDAO introduces two new solutions for the Bitcoin-NFT bridge

BendDAO introduces two new solutions for the Bitcoin-NFT bridge

user avatar

by Max Nevskyi

2 years ago

BendDAO, a well-known decentralized autonomous organization (DAO), has introduced unique solutions for integrating Bitcoin-NFT into the DeFi ecosystem. These solutions aim to unite Bitcoin-NFT and Bend DAO, using Bitcoin liquidity pools (wBTC) as loan assets.

The first proposal involves using a third-party bridge protocol that allows connecting Bitcoin NFTs from the Bitcoin network to BendDAO in the Ethereum network. This process includes transferring Bitcoin-NFT to an external bridge, which creates a corresponding ERC721 token. These tokens can then be used in BendDAO for borrowing ETH, USDT, or wBTC.

The second solution involves a system of multi-signature wallets acting as intermediaries between the Bitcoin and Ethereum networks. Users send Bitcoin-NFT to a multi-signature wallet managed by BendDAO. After the transaction is verified by the custodian, a corresponding ERC721 token is created.

These innovations open a new era in DeFi, offering users advanced solutions for utilizing their assets. BendDAO plays a key role in bridging the gap between different blockchain networks, promoting compatibility and flexibility in the world of decentralized finance.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

BRICS New Development Bank Advocates for Chinese Yuan in Global South Financing

chest

The BRICS New Development Bank is advocating for the use of the Chinese yuan in funding projects across the Global South, highlighting its stability and low borrowing costs.

user avatarLi Weicheng

Intense Debate on the Future of Stablecoins and Freezing Powers

chest

A recent discussion initiated by Columbia Business School professor Omid Malekan on X has sparked a significant debate regarding the operational capabilities of stablecoins, particularly their ability to refuse freezing funds.

user avatarAisha Farooq

Key Level for Bitcoin at 58,900

chest

The level of 58,900 is crucial for Bitcoin's price movement, with potential implications for bulls and bears.

user avatarTenzin Dorje

Brazil's Gold Reserves Surge Amid Global Currency Shift

chest

In late 2025, Brazil's Central Bank purchased 428 tons of gold, raising its reserves to 1724 tons, reflecting a strategic shift to diversify international reserves amid economic uncertainties.

user avatarBayarjavkhlan Ganbaatar

Market Stabilization Observed as Long Positions Absorb Volatility

chest

Recent liquidation data indicates that long positions have absorbed the latest market volatility, leading to a more stable TRX structure.

user avatarRajesh Kumar

Erste Group Upgrades AMD to Buy, Stock Surges

chest

Erste Group Bank upgraded AMD from Hold to Buy, citing strong demand from the data center sector and improved profit margins.

user avatarElias Mukuru

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.