X21 Digital and Sienna Network Partnership
The team at X21 Digital is pleased to welcome Sienna Network. Our strategic partnership and investment in Sienna gives us exposure to innovative privacy features within the DeFi space.
Sienna Network is a privacy-first cross-chain decentralized financing platform that will enable the swapping, lending, and conversion of cryptocurrencies to their private equivalents.
Operating on the Secret Network platform, Sienna will target institutional investment firms and pension funds offering security and privacy features to enable them to operate within the cryptocurrency space.
In addition to privacy features, additional benefits include quicker confirmation times, lower transaction fees, and cross-chain interoperability.
There are three core components of the Sienna Network. They are:
SiennaSwap: a cross-chain decentralized exchange with an automatic market maker where users can exchange tokens in complete privacy.
SiennaLend: a decentralized lending protocol where users can earn interest on crypto assets, borrow funds, and use tokenized assets as collateral.
SiennaBridge: a connecting interface to Secret Network bridges. It will support Binance Smart Chain, Cosmos, Ethereum, and Polkadot platforms. It will facilitate the conversion of tokens into their private equivalent for usage on the Sienna platform. For example, BNB will become sBNB.
The native token on the Sienna platform is $SIENNA. Its primary functions are governance and rewards. Users will need the $SIENNA token to vote on proposals and platform changes.
There is also wSIENNA (wrapped SIENNA), an ERC20 version of the native SIENNA token which connects the Secret Network to the Ethereum ecosystem. A bridge will be available to convert between SIENNA and wSIENNA.
About Sienna Network
Sienna is building an interconnected DeFi protocol that offers trustless financial instruments such as privacy-preserving lending, borrowing, and trading.
About X21 Digital
X21 Digital is one of the leading blockchain advisory and investment firms involved in developing promising startups. The team has offered advisory services and invested in several prestigious blockchain companies.
Telegram Announcements: https://t.me/SiennaAnnouncements