Palladium x Botanix
Announcing strategic partnership with Botanix Labs
Palladium’s Quest: Building a Fortress of Reliability
Cryptocurrency thrives on decentralization, yet a hidden enemy lurks — our reliance on traditional banking for stablecoins. This single point of failure exposes DeFi services to potential censorship and disruption.
Palladium Labs set out to build a revolutionary stablecoin protocol, one that’s truly decentralized and immune to censorship. Inspired by Bitcoin’s security, we knew we needed a bulletproof foundation.
The Layer 2 Labyrinth: A Search for the Trustworthy Path
Bitcoin’s core strength lies in its secure settlement layer, but it lacks smart contract functionality. Bitcoin scaling solutions seemed promising, but are they truly trustless, truly a Bitcoin L2? We embarked on a quest, scrutinizing networks claiming to be a Bitcoin L2, only to find them riddled with vulnerabilities.
Enter Spiderchain — Trustless Bitcoin Primitive by Botanix Labs
In our relentless quest to identify a true Bitcoin Layer 2, we stumbled upon — Botanix Labs. A key feature of the Botanix EVM is the underlying sidechain protocol that powers it. Called the Spiderchain, this randomized and decentralized set of multi-signature wallets protect funds moved up from the Bitcoin base layer to the Botanix EVM. As a breakthrough in Bitcoin Layer 2 protocol architecture, the Spiderchain unleashes the full potential of securely pairing EVM-based applications with a Bitcoin-based ecosystem.
Botanix EVM has been under development since early 2023. After nearly a year of refining the cryptography that secures its network, Botanix Labs launched a testnet in November 2023. Today, more than 5,000 experimental token projects are live on the testnet and it is now gearing up for its mainnet launch in Q2 2024.
Joining Hands: A Partnership Forged in Innovation
Palladium Labs and Botanix Labs now stand united. This strategic partnership will unleash a Bitcoin-native stablecoin on the Botanix EVM, forever altering the DeFi landscape. By combining our expertise, we’ll usher in a new era of stability and empower the true potential of Bitcoin-based DeFi.
Embark on this transformative journey with us! Stay tuned for further updates on this pivotal partnership poised to redefine the contours of the BitcoinFi landscape.
Website: https://palladiumlabs.org
Docs: https://docs.palladiumlabs.org
Twitter: https://twitter.com/PalladiumLabs
