Decentralized Exchange, or DEX, and the Self-Depot Wallet Platform have announced a strategic partnership with the two-tiered blockchain network Polygon to advance Bitcoin’s functionality in the decentralized financial market or DeFi market.
The portal currently offers fully decentralized trading of spot and on-chain options as well as peer-to-peer lending and borrowing. The partnership is expected to expand these dedicated features by activating the zero-knowledge exchange features for wBTC/BTC as well as POS/WBTC for BTC, as well as Polygon, which operates the Portal DEX liquidity support node.
The main objective of the portal is to create an independent, anonymous and unsupervised ecosystem for Bitcoin over DeFi. The platform’s use of Bitcoin fixed-time contracts provides users with robust security in their transaction activities, while its third layer technology, Fabric, allows typical smart contract functions such as effort and liquidity to be deployed.
Gateway CEO Dr. Chandra Dughirala commented on the potential to enhance the usability of Bitcoin in the DeFi space.
“As Portal is the Bitcoin DeFi team, we are pleased to work with Polygon to enable WBTC/BTC and POS-WBTC to exchange BTC. It is about the risks and will improve the usability of bitcoins.
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Portal received $8.5 million in funding in late September from a number of institutional hubs, including but not limited to Coinbase Ventures, Arrington XRP Capital, OKEx and seniors from Ethereum, Dfinity, and Galaxy Digital. , among other things.
Portal founder George Burke has made a humorous contribution to the company’s monthly Memeathon, a fun contest that invites community members to participate in the much-loved social sport of “meming.” You can see the winner of the October competition here.