TL;DR:
- Bifrost, operating BTCFi to provide liquidity for Native Bitcoin, has partnered with COREx — the #1 DEX on Core — to enhance Bitcoin liquidity.
- This collaboration provides significance in which users on Core network will now have easy access to $BtcUSD. Additionally, this introduces another use case for $BtcUSD as a CDP (Collateralized Debt Position), allowing users to use Bitcoin as collateral with a 50% loan-to-value (LTV) ratio.
- Users will now be able to swap $USDC through core by using the $BtcUSD <> $USDC pool on COREx, as well as creating additional yields by providing liquidity.
Overview
We’re excited to announce our partnership with COREx!
Through this partnership, COREx will support a $BtcUSD <> $USDC pool, where $BtcUSD that was minted through BTCFi can now be swapped to $USDC through COREx, as well as liquidity provision.
Following the previous partnership, this partnership establishes $BtcUSD as the official CDP of Core network.
We hope to receive continuous support and attention from users, as $BtcUSD will continue to increase its use cases, as well as the expanding BTCFi ecosystem.
The Meaning of Partnership
As $BtcUSD is finally on the #1 DEX on Core, $BtcUSD has secured the position as the official Bitcoin-backed stablecoin on the leading Bitcoin-aligned L1, Core.
To add, users will have another use case for $BtcUSD to receive additional incentives.
As the only Native-Bitcoin backed CDP, BTCFi is progressing step by step. We hope to increase the usage and support of $BtcUSD, along with the BTCFi ecosystem.
About COREx
COREx is a pioneering decentralized exchange (DEX) at the forefront of the Core DAO ecosystem, backed by Core Ventures and HTX Ventures. As a flagship V3-style DEX, COREx revolutionizes the trading experience by seamlessly blending simplicity with cutting-edge technology. With an intuitive interface designed to minimize the learning curve, COREx is accessible to both newcomers and experienced traders in the Web3 space. The platform incorporates robust community features that foster collaboration and knowledge sharing among users, while advanced AI-driven trading assistance enhances decision-making through smart recommendations and real-time transaction monitoring.
Dedicated to continuous innovation, COREx integrates unique features of the CoreDAO to enhance liquidity management, improve trading efficiency, and develop sophisticated risk management strategies. By combining an accessible platform with intelligent functionalities, COREx aims to redefine decentralized trading on the Core Chain, lowering entry barriers for DeFi participation and creating a comprehensive trading environment that caters to all users in the decentralized finance landscape.
About Bifrost
BTCFi, powered by Bifrost Network’s cross-chain technology, is a pioneering Bitcoin asset management service that bridges Bitcoin with multichain ecosystems. As the foremost Native-Bitcoin collateralized debt position (CDP) protocol, BTCFi empowers users to unlock liquidity without selling their Bitcoin. With BTCFi, users can stake Bitcoin to mint $BtcUSD, a Bitcoin-backed stablecoin, while enjoying a low, fixed interest rate of 3.5% and maintaining exposure to Bitcoin’s value. Offering features like a 50% over-collateral ratio and the ability to earn a stable annual yield of 2–3% in Native BTC, BTCFi redefines Bitcoin’s utility.
Conclusion
BTCFi, the one and only Native Bitcoin-backed CDP, has successfully started its expansion into the Bitcoin DeFi ecosystem by becoming an official stablecoin on Core network, the largest Bitcoin-aligned L1.
As the one and only Native Bitcoin-backed CDP for Bitcoin DeFi, $BtcUSD will not only stop here but continue to grow and aim to be utilized in a wide range of applications.
Thank you for joining us on our journey, and we’ll continue trying our best to becoming bigger and better than ever.
Visit now: COREx