News and Analytics

0

**Bitcoin Integration Enhances Decentralized Finance**

Apr 5, 2024

Mintlayer, known for enabling native Bitcoin features in DeFi apps, has integrated with Portal, a DeFi innovator. This collaboration aims to improve DeFi with better security, increased usability, and seamless interoperability with Bitcoin. The integration eliminates the need for bridges, wrappers, or asset custody.

Mintlayer and Portal are aligned in their vision to achieve Bitcoin DeFi without wrapped tokens or custodial risks. Mintlayer's Layer 2 sidechain allows developers to build decentralized financial systems without burdening the Bitcoin Network. It enhances security by enabling atomic swaps and fostering innovation on Bitcoin's Layer 2 without network congestion.

Portal's DEX Network utilizes atomic swaps to enable noncustodial cross-chain trading of BTC and tokens on other EVM chains. Built on Bitcoin, it offers efficient trading similar to centralized exchanges but without the risks associated with bridges, wrappers, and CEXs.

The integration of Mintlayer with Portal opens up possibilities for tokenizing real-world assets, NFTs, and dApps, expanding the utility of BTC holdings. This collaboration aligns with Portal's goal of harnessing Bitcoin's potential in decentralized finance, ensuring security and user sovereignty in DeFi applications.

Comments

Latest analytics

Alonzo — the upgrade...

Alonzo — the upgrade that unlocked smart contract functionality...

Ethereum Shanghai...

Ethereum Shanghai Upgrade: Impact on Staking and Network...

Show more

Latest Dapp Articles

Show more

You may also like