Cross chain BTC or become an important outbreak point for DeFi?

in btc •  4 years ago 

As part of fintech, DeFi's biggest role is certainly to address the financial needs of users.

For example, by pledging encrypted assets for borrowing, interest generation, and liquidity mining, etc., the encrypted assets that have been holding and holding still can flow and obtain rich profits.

But the crypto assets on the Ethereum network don't seem to have much in the way of heavyweight assets other than the Ethereum itself and some mainstream tokens as prime assets.

As the big MAC and "digital gold" in the cryptography market, Bitcoin naturally has the largest demand for financial derivatives, so various cross-chain schemes that map Bitcoin to the Ethereum network emerge at the right moment.

And as DeFi has evolved, the number of BTC's entering the Ethereum network via a cross-chain solution has grown rapidly.

It is necessary to mention Farmland, because farmBTC introduced by it is more decentralized, more flexible and less risky than most mainstream cross-chain implicit assets such as WBTC, imBTC and tBTC that anchor BTC on Ether Lanes.

At the same time, its integrated mining insurance protocol is a good way to avoid the risk of DeFi mining and "lose your money".

In general, Farmland is a platform that integrates cross-chain technologies, DAO and other technologies and has added numerous innovative platforms in the protocol layer. In particular, the solutions proposed for cross-chain Bitcoin are more comprehensive.

It allows users to reap the benefits of DeFi mining at a very low or even zero commission, as well as a good experience, greatly reducing risk and DeFi barriers.

Bitcoin broke through $20,000. The overall market mood was aroused, and the ecological development of Ethereum was bound to be the top priority next. The demand for cross-chain converters would be increasing, and agreements like cross-border polymerization would face rare opportunities.

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